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”.

Login Register Subscribe

Insurance rate hikes pick up speed: Report

prices rise

Commercial insurance price hikes accelerated in most coverage lines last month, according to insurance exchange Ivans Insurance Solutions.

The biggest increase in average annual renewal rates was in commercial auto, where rates rose 5.58% for accounts renewing February, up from 4.09% in January, the Tampa, Florida-based unit of Applied Systems Inc. said in a statement Wednesday.

Commercial property rates increased 5.28% in February compared with 4.86% in January, business owners policy rates rose 4.69% compared with 4.4% and general liability rates increased 3.04%, up slightly from the 3.02% increase in the prior month.

Umbrella liability rates increased, too, at a rate of 2.89%, which was down from the 3.08% in January.

Workers compensation rates continued to fall, down 1.85% in February compared with a 1.63% decrease in the prior month.

Several other recent pricing surveys, including one from Marsh and another from the Council of Insurance Agents & Brokers, show prices steadily increasing over the past year, with the degree of increase often varying depending on the size of the accounts surveyed.  








Read Next