Umbrella liability rate hikes slowed in May, but increases for commercial auto, general liability and commercial property ticked up, according to a report Thursday from Ivans Insurance Services, a unit of Applied Systems Inc.
Umbrella rates rose 9.11%, down from a 9.41% increase in April, and business owners policies increased 7.89%, compared with 7.98%, Ivans said.
Commercial auto rates rose 8.45%, up slightly from 8.41% in April; commercial property was up 7.77%, compared with 7.70%; and general liability increased 4.86%, compared with 4.33%.
Workers compensation rates fell 1.87%, compared with a 1.78% decrease in April.
