Rates in both commercial- and personal-lines insurance continued to increase through November, according to electronic exchange MarketScout. Rates for commercial-lines accounts increased an average of 5 percent in November compared to the same period last year, and personal lines increased 4 percent, the Dallas-based company says. (In October, commercial-lines accounts were up 4 percent compared to the same period last year, and personal lines were up 3 percent.)
By coverage class for commercial lines, Commercial Property, General Liability, Umbrella/Excess, Commercial Auto and Workers' Compensation increased the most at 5 percent each. Surety was up the least at 1 percent. No lines showed a rate decrease.
In terms of account size, small, medium and large accounts were all up by 5 percent, while jumbo accounts (those with more than $1 million in premium) were up 2 percent.
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