Commercial property/casualty insurance rates rose an average of 4% in November, Dallas-based electronic insurance exchange MarketScout reported Thursday.
Among lines of coverage tracked by MarketScout, commercial automobile experienced the largest increase at 5%. Commercial property, general liability and workers compensation registered increases of 4%, while crime and surety coverages posted the smallest increases at 1% each.
Manufacturing, contracting and service accounts experienced the greatest increase at 5% each, while public entities had the smallest increase at 3%.
“The market is still on an upward trajectory, but rate increases are slowing,” said Richard Kerr, CEO of MarketScout, in a statement accompanying the report.