Login Register Subscribe
Current Issue

Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Commercial insurance prices increase

Reprints

Nearly all major commercial insurance lines saw renewal rate increases in October, according to a report released Thursday by insurance exchange IVANS.

Workers compensation was the only line that remained in the negative premium renewal rate territory, IVANS said in a statement, with average premium rates slipping 2.2%.

Commercial auto premium renewal rates increased 3.1% on average, the Tampa, Florida-based unit of insurance technology firm Applied Systems Inc. said in a statement. General liability premium rates increased 1.8%, umbrella rates were up 1.3%, commercial property rates increased 2.8% and business owner’s policy premium renewal rates increased 3.6%.

The monthly IVANS Index analyzes more than 120 million data transactions and measures the premium difference year-over-year, according to the statement.