9/6/2018 12:49:00 PM
Source: Business Insurance
Most major commercial lines reported higher renewal rates in August, according to the monthly report issued by insurance exchange Ivans Insurance Solutions on Thursday.
General liability was 2.5%, up from 2.2% at the end of July, according to the statement issued by Tampa, Florida-based unit of insurance technology firm Applied System Inc.
Other reported increases were: business owners policies, 4%, up from 3.8% in July; commercial property, 3.5%, up from 3% in July; and umbrella, 1.8%, up from 1.7% in July.
The renewal rate for commercial auto was 4.4%, down from 4.5% at the end of July.
Workers compensation renewal rates were down 2.2%, compared with a 3.4% decrease in July, according to the report.