Average premium renewal rate changes for most major commercial lines increased in October, according to a report Wednesday from Ivans Insurance Services, a unit of Applied Systems.
Umbrella liability rates increased 9.22% in October, up from 9.12% in September, while commercial property rates rose 7.61%, up from 7.11%.
General liability rates increased 7.04%, up from 6.78% in September and business owners policy rates rose 7.51%, up from 7.46%.
Commercial auto rates rose 7.57%, down from 7.65% in September.
Workers compensation rates fell 1.53%, compared with a 1.32% decrease in September.