The composite rate for the second quarter 2021 was 5.9 percent versus 7 percent in the first quarter. Commercial insurance buyers paying $25,000 or less in premium are paying a slightly lower rate at 5 percent versus 6.3 percent in the first quarter. As measured by line of coverage, professional lines rates adjusted significantly at… Continue reading Rate Moderation in Second Quarter 2021
Tag: commercial insurance rates
Average Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the April 2021 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business experienced an increase in average premium renewal rate, except Workers’ Compensation which stayed negative. Month over month, premium renewal rates for lines of business including… Continue reading Average Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines
Commercial Lines Renewals Experience Varied Rate Changes
IVANS®, a division of Applied Systems®, today announced the May results of the IVANS Index™, the insurance industry’s premium renewal rate index. The results showed varied change in premium renewal rates month over month with BOP, General Liability and Commercial Property experiencing an upward turn, and Commercial Auto, Umbrella and Workers’ Compensation experiencing a downtick… Continue reading Commercial Lines Renewals Experience Varied Rate Changes
Renewal Rates Experience Increase Across Nearly All Major Commercial Lines Products
IVANS, a division of Applied Systems, announced the results for Q1 2019 IVANS Index, the insurance industry’s premium renewal rate index. Q1 results showed an increase in premium renewal rate change average across Commercial Auto, Business Owner’s Policy, Umbrella, and Commercial Property compared to Q4; however, General Liability renewal rate change experienced a decrease and… Continue reading Renewal Rates Experience Increase Across Nearly All Major Commercial Lines Products