The rate of renewal of commercial insurance premiums continued to increase on most lines last month, but the increase was frequent, according to a report Tuesday from Ivan Insurance Services, a division of Tampa, Florida-based Applied Systems Inc.
The rate of renewal of commercial real estate increased by 5.43% in May, which was a decrease from 5.52% in April. commercial car interest rates rose 4.59, a decrease from 4.65%; the general debt rate increased by 3.79%, down from 4%. and business owners' key interest rates rose 4.48%, down from 4.64%.
Umbrella responsibility was the only tracked line that saw a continued increase in the rate of increase with a rate of renewal that rose 4.31
The rate of renewal of labor compensation decreased by 1.52% in May, a slight slowdown compared to the decline of 1.64% in April.
"While the trend from month to month experienced some softening in the market compared to last year, the market remained steady with expected price increases during renewals," said Kathy Hrach, vice president of product management at Ivans, in a statement.
ADD – May results are broadly similar to April when they show a continued hard market with various and even dampening changes