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Motor, property lead US commercial rate rises

US commercial motor rates recorded the largest rise by line in the second quarter at 6%, followed by commercial property at 4%, industry analyst MarketScout says.

The average commercial composite rate was plus 2.5%.

All commercial lines improved in the period with the exception of workers’ compensation, which declined 3%.

Business interruption, business owner policies, umbrella/excess, professional liability and directors’ and officers’ liability recorded 2% rate rises.

Employment practices liability insurance increased 3% and remaining lines including inland marine, general liability, fiduciary, crime and surety gained 1%.

In personal lines, the average rate was plus 2.5%.

Personal motor rates gained 4%, matching rises seen in the first quarter.