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

Commercial insurance price hikes speed up in April: Report

upward chart

Commercial insurance rate increases accelerated in most lines last month, but workers compensation rates continue to fall, according to a report by insurance exchange Ivans Insurance Services.

Commercial property insurance saw the biggest increase, with average annual renewal rates rising 5.51% in April, compared with 5.28% in March, the Tampa, Florida-based division of Applied Systems Inc. said Monday.

Business owners policies recorded the second biggest increase at 5.22%, compared with 4.85% in March; commercial auto rates increased 4.8%, up from 4.75%; and general liability rates increased 3.29%, up from 3.18%.

Umbrella liability rates increased 3.18% in April, which was slightly lower than the 3.22% increase recorded for March.

Workers comp rates fell at a faster pace, down 2.06% in April compared with a 1.96% decline in March, Ivans said.