U.S. commercial insurance rates have continued their upward trajectory through the fourth quarter of 2023, according to the latest findings from WTW’s Commercial Lines Insurance Pricing Survey (CLIPS). Carriers reported an aggregate commercial price increase of 6.7%, continuing a consecutive quarter upsurge over 6%.
Tag: GL
Renewal Rates for Nearly All Commercial Lines Up YoY; Nearly All Experience Decrease Month Over Month
Year over year, all major commercial lines experienced an increase in average premium renewal rates. Month over month, Workers’ Compensation experienced an increase in premium renewal rate change, while Commercial Auto, BOP, General Liability, Commercial Property, and Umbrella saw decreases.
Distinguished Programs Announces New Program with Core Specialty for Hotel General Liability Coverage
Distinguished Programs announced its partnership to with Core Specialty to provide General Liability & Auto Liability coverage for hotels.
Berkshire Hathaway GUARD Adding Commercial Package Coverage
Berkshire Hathaway GUARD Insurance Companies is adding a Commercial Package product that will include coverages for Property, General Liability, Umbrella, and Employment-Related Practices Liability Insurance (EPLI). According to GUARD CEO Sy Foguel, “An early April Pennsylvania launch is anticipated with other states to follow. Our goal is to become a ‘One Stop Shop’ for our… Continue reading Berkshire Hathaway GUARD Adding Commercial Package Coverage