Premium increases remained stable in Q2 2023, with an average increase of 8.9% across all account sizes, up slightly from the previous quarter’s 8.8%. This marked the 23rd consecutive quarter of increases.
Tag: commercial lines premiums
Average Commercial Lines Renewal Rates Up Y-O-Y
IVAN’s first quarter results of 2023 showed premium renewal rate change for all major commercial lines of business except Workers’ Compensation are up year over year.
Commercial Insurance Prices Increased in 4Q 2021
U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the fourth quarter of 2021 with those charged for the same coverage during the same quarter in 2020. The aggregate commercial price change reported… Continue reading Commercial Insurance Prices Increased in 4Q 2021
Average Premium Renewal Rates Experience Variable Change Across Nearly All Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the October results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business saw an increase in average premium renewal rate, except Workers’ Compensation, which experienced a negative change in premium. Month over month, October premium renewal rates experienced… Continue reading Average Premium Renewal Rates Experience Variable Change Across Nearly All Major Commercial Lines
Average Renewal Rates Continue to Increase Year Over Year Across Most Major Commercial Lines
IVANS®, a division of Applied Systems®, today 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… Continue reading Average Renewal Rates Continue to Increase Year Over Year Across Most Major Commercial Lines
Average Premium Renewal Rates Up Month-to-Month Across Most Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the February results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, nearly all lines of business experienced an increase in average premium renewal rate, except Workers’ Compensation, which maintained its negative trend. Month over month, February saw the greatest average premium… Continue reading Average Premium Renewal Rates Up Month-to-Month Across Most Major Commercial Lines
USI Report: Commercial P&C Rates Across Several Lines Continue to Accelerate
Many commercial property/casualty rate increases appear to be accelerating, according to a recent report by USI Insurance Services LLC. Fewer lines such as workers compensation and primary general and products liability were flat or down from midyear, according to USI’s 2019 Fourth Quarter Commercial Property/Casualty Insurance Market Outlook, released Nov. 1 Noncatastrophe-exposed property accounts with… Continue reading USI Report: Commercial P&C Rates Across Several Lines Continue to Accelerate
Premium Renewal Rates Continue Upward Trend Across Half of Commercial Products
IVANS®, a division of Applied Systems®, today announced the October results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business, except Workers’ Compensation, experienced an increase in average premium renewal rate. Month over month, October experienced an uptick in premium renewal rate change across half of… Continue reading Premium Renewal Rates Continue Upward Trend Across Half of Commercial Products
Premium Renewal Rates Experience Increase Across Nearly All Major Commercial Product Lines: IVANS
IVANS®, a division of Applied Systems®, announced the Q3 2019 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, Commercial Auto, Business Owner’s Policy, General Liability, Umbrella and Commercial Property all experienced an increase in average premium renewal rate change in Q3; Workers’ Compensation remains in negative territory. Quarter… Continue reading Premium Renewal Rates Experience Increase Across Nearly All Major Commercial Product Lines: IVANS
Premium Renewal Rates Experience Upward Trend Across Nearly All Major Commercial Lines: IVANS
IVANS®, a division of Applied Systems®, today announced the August results of the IVANS Index™, the insurance industry’s premium renewal rate index. Month over month, August experienced an uptick across nearly all of the commercial lines products, except Business Owners Policy which experienced a slight negative change. Year over year, all lines of business experienced… Continue reading Premium Renewal Rates Experience Upward Trend Across Nearly All Major Commercial Lines: IVANS