2024 4th Quarter Commercial Insurance Rates — An Average Rise of 5.6%
Published January 9, 2024 at 2:22 PM · News Releases and Bulletins
Commercial insurance rates rose an average of 5.6% in the fourth quarter of 2023.
MarketScout tracks such things and said the biggest hike was found in commercial property. Rates rose 8.3% in that line and 7% in commercial auto which had the second highest increase.
- Umbrella / excess rates rose 6.7%
- General liability rates saw a hike of 5.3%
- Professional liability clients had rates go up 4.7%
- D&O rates rose 2.7%
Work comp rates stayed even.
Source link: Business Insurance — https://bit.ly/48rBGya