Some liability rate increases accelerate in January: Ivans

Commercial property insurance rate hikes slowed in January, but increases for general liability and umbrella ticked up, according to a report Thursday from Ivans Insurance Services, a unit of Applied Systems Inc.

Property again saw the largest rate increase among the major coverage lines at 9.74%, but that was down from 11.12% in December, Ivans said.

Umbrella liability rates rose 9.47% last month, up from 9.09% in December; commercial auto was up 9.41%, compared with 9.99%; and general liability climbed 4.19%, compared with 4.16%.

Rates for business owners policies – package policies for small businesses – increased 9.02%, compared with 9.59%.

Workers compensation rates fell 1.44%, compared with a 1.45% decrease.