Premium Renewal Rates Mostly Up in February
Ivans Insurance Solutions reports that premium renewal rates increased in most major commercial business lines in February. Commercial auto saw the largest increase in premium renewal rates at 4.61 percent. That is a rise from a 4.57 percent increase recorded in January. Increases also were reported for commercial property, umbrella, and general liability. Workers’ compensation declined 3.38 percent. However, Ivans also reports that business owners’ policies declined by 3.94 percent from January.