Commercial property insurance rates entered negative territory for the first time in 27 quarters with a second-quarter average rate decrease of 0.94% as capacity increased and pricing eased, according to a report Tuesday from Aon PLC.
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Commercial insurance rates rose for most lines last month, but Workers Comp was the only major line that saw a decrease.
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Most major commercial lines saw monthly increases in average renewal rates in January, except for workers compensation, but the pace of the rate hikes slowed, according to a recent report.
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