Insurance rate hikes accelerate in second quarter: MarketScout

Commercial insurance rates increased 4.4% in the second quarter, compared with 3.9% in the first quarter, MarketScout Corp. said in a report Wednesday.

Commercial auto coverage again increased the most, rising 8% compared with a 6.7% increase in the first quarter.

Commercial property rates rose 7% in the second quarter, compared with 6.3% in the first quarter; general liability and umbrella/excess rates were up 4.7%, compared with 3.3% and 6.3%, respectively; professional liability rates increased 3.7%, the same as the prior quarter; and directors and officers liability rates were up 3.3%, compared with 2.7%.

Workers compensation rates were again flat.