IVANS: Commercial Renewal Rates Continue Increase

Rate increases across nearly all major commercial lines of business.
October 28, 2020

IVANS, a division of Applied Systems, announced the Q3 2020 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Q3 results showed an increase in premium renewal rate change average across nearly all major commercial lines of business, including Commercial Auto, Business Owner’s Policy, General Liability, Umbrella, and Commercial Property compared to Q3 2019; however, Workers’ Compensation average premium renewal rate change remained in negative territory. Commercial Auto, Business Owners Policy, Commercial Property, and Umbrella experienced lower average premium renewal rate for Q3 2020 relative to Q2 2020; General Liability and Workers’ Compensation experienced flat to slightly higher average premium renewal rate quarter over quarter.

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