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January renewal rates for six major commercial property/casualty lines were mostly lower, insurance exchange Ivans Insurance Solutions said Tuesday in its monthly analysis.
Reported decreases included general liability, which dropped to 1.16% from 2.23% in December; commercial property at 3.74%, down from 3.95% at the end of December; and umbrella at 2.17%, down from 2.29% the prior month, according to the report.
But the outliers were commercial auto, with a renewal rate up 4.57% from 4.51% in December, and workers compensation down just 1.04% compared with a decline of 2.66% the prior month, according to a statement released by the Tampa, Florida-based unit of insurance technology firm Applied Systems Inc.
Renewal rates for business owners policies were flat at 4.23%, consistent with the prior month, according to the report.
November renewal rates for six major commercial lines split evenly between higher and lower in November, according to the monthly report issued by insurance exchange Ivans Insurance Solutions on Thursday.