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Commercial insurance prices increase across most lines



Average renewal rates rose for most commercial coverage in February, but the pace of increases slowed in some main lines, according to a report Thursday from Ivan Insurance Services, a division of Tampa, Florida-based Applied Systems Inc. [19659002] Commercial real estate showed the largest increases, an increase of 6.13% on an annual basis and up slightly from 5.63% in January.

Business owners' insurance rates rose 4.59% last month, compared to 4.46% in January, and the general debt rate rose 3.93% compared to 3.69% the previous month.

Commercial car interest rates increased by 4.38% in February, a slight slowdown from 4.45% in January, and the umbrella liability rate rose 4.25%, fractionated from the 4.29% increase a month earlier.

Workers' compensation, which has been the only line showing consistent reductions in the past year, decreased by 1

.47% in February, compared with a decrease of 1.02% in January.

Ivans says it builds the index from transactions placed through more than 33,000 agencies.


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