Majority of January Commercial Lines Renewals See Lower Rates

IVANS® today announced the January 2022 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, nearly all lines of business, except Workers’ Compensation, experienced an increase in average premium renewal rate. Month over month, premium renewal rates increased for lines of business including Commercial Property and Umbrella. Commercial Auto, Business Owners’ Policy (BOP), General Liability and Workers’ Compensation experienced decreasing average premium renewal rates.

Source: IVANS | Published on February 11, 2022

premium increases down or flat

Premium renewal rate change by line of business for January 2022 highlights include:

  • Commercial Auto: 4.13%, down from 4.55% last month
  • BOP: 4.28%, down from 5.77% at the end of December
  • General Liability: 4.23%, down from 4.78% the month prior
  • Commercial Property: 6.17%, up from 6.14% in December
  • Umbrella: 5.58%, up from 5.40% the month prior
  • Workers’ Compensation: -1.26%, down from -1.16% last month

“Many of the major commercial lines of business that had been steadily rising over the course of last year, such as BOP and General Liability, experienced decreases in average premium renewal rates this month,” said Kathy Hrach, vice president of Product Management, IVANS Insurance Services. “Year over year, major commercial lines of business remain positive, with the exception of Workers’ Compensation, which continues to report below zero.”

Released monthly, IVANS Index is a data-driven report of current conditions and trends for premium rate renewal change of the most placed commercial lines of business in the insurance industry. Analyzing more than 120 million data transactions, the IVANS Index premium renewal rate change measures the premium difference year over year for a single consistent policy. Inclusive of more than 33,000 agencies and 430 insurers and MGAs, the IVANS Index is reflective of the premium rate change trends being experienced by all agencies and insurers across the U.S. insurance market. IVANS Index is available to agencies and insurers as part of Market Insights at