Commercial Rates Climb in Wake of Higher Claims Costs, Catastrophes

| posted in Blog

There is a confluence of factors affecting insurance rates going into 2018 that are pushing premiums higher in a number of commercial lines policies, including auto, liability and property. Increasing claims costs in commercial auto are at the top of the list, largely due to a spike in distracted driving accidents, injuries, deaths and higher costs to repair modern vehicles. Now, after the most expensive natural disaster season on record – hurricanes, floods and wildfires – premiums for commercial property are also on the rise. Workers’ compensation seems to be the outlier, as rates in most states have remained steady…
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