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

Property/casualty insurance prices keep rising

rising chart

Commercial property/casualty insurance rates rose 7% on average in the first quarter, but some lines saw significantly steeper hikes, according to insurance exchange MarketScout Corp.

Umbrella and excess liability insurance rates rose the most at 14%, followed by directors and officers liability, 11.6%; professional liability, 11.3%; commercial auto 8.7%; and commercial property, 8.6%, according to the report released Tuesday.

No lines experienced rate decreases. The smallest increases were in workers compensation and surety, which both saw rates rise 1.7%.

Large accounts saw the biggest increases, up 8.3% on average, compared with 6.3% for small and mid-sized accounts, the report said.

By sector, transportation policyholders were hit the hardest, with 11.7% rate increases on average, followed by habitational risks at 9.3%.