Comp Renewal Rates Decrease a Little Less, Ivans Finds

Workers’ comp renewal rates were down 2.71% last month, a smaller decrease than the 2.93% drop seen in April, according to Ivans, an insurance industry exchange. The Ivans Index for May found that rates for most standard commercial lines are trending positively, except commercial auto and umbrella, which experienced smaller increases last month. Commercial auto was up 4.04%, compared to 4.54% in April; and rates for umbrella policies increased 1.54% in May, compared to 2.31% the previous month. General liability rates were up 2.37%, commercial property increased 3.2%, and busines...