Commercial rate hikes ease in most lines in August: Ivans

The pace of renewal rate increases slowed for most commercial lines in August, with only an uptick for umbrella coverage, according to a report Wednesday from Ivans Insurance Services, a unit of Applied Systems Inc.

Renewal rates for umbrella coverage were 8.5%, up from 8.4% in July. Commercial property renewals rose 11.4%, compared with 11.8% the prior month. Commercial auto renewals were 9.7%, nearly unchanged from July, and general liability renewals were 4.1%, almost unchanged from the prior month.

Business owner policy renewals increased 8.6%, compared with 8.7% in July. Workers compensation renewals fell 1.37%, compared with July’s 1.32% decline.