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Commercial rates mostly up in February: Ivans

Posted On: Mar. 5, 2019 1:03 PM CST

Ivans rates

February premium renewal rates increased across all major commercial lines of business in February except for workers compensation, Ivans Insurance Solutions said Tuesday in its monthly report.

Tampa, Florida-based Ivans said the largest increase in premium renewal rates was for commercial auto, which increased 4.61%, compared with a 4.57% increase in January.

Increases were also reported for commercial property, up 4.58% from 3.74%; umbrella, up 3.06% from 2.17%; and general liability, up 1.81% from 1.16% in January.

Workers compensation was down 3.38%, compared with a 1.04% decrease in January. In addition, business owners’ policies were down 3.94%, compared with a 4.23% decrease in January, according to the report.