Premium increase moderation continued this quarter, with premiums across all account sizes increasing by 7.7%, slightly up from the previous quarter’s 7.0%. It was the 26th consecutive quarter of increases.
Tag: Umbrella
YOY Average Premium Renewal Rates Remain Up for Majority of Commercial Lines
Except for Workers’ Compensation, all lines of business saw an increase in average premium renewal rate year over year, according to Ivans.
Insurance Buyers Still Face Challenges at Mid-Year: USI
Despite stabilization in several lines, the second half of 2022 will remain challenging for insurance buyers, particularly in the cyber market, according to a mid-year outlook from USI Insurance Services. “Some of the traditional (non-COVID-19-related) trends continue to take center stage, such as the frequency and severity of claims, underwriting discipline, insurance capacity, the cost… Continue reading Insurance Buyers Still Face Challenges at Mid-Year: USI
Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines Products
IVANS®, a division of Applied Systems®, today announced the results for Q4 and year-end 2020 IVANS Index™, the insurance industry’s premium renewal rate index. Q4 results showed an increase in the premium renewal rate change average across General Liability, Commercial Property, Umbrella and Workers’ Compensation compared to Q3; however, Workers’ Compensation average premium renewal rate… Continue reading Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines Products
Average Premium Renewal Rates Continue to Increase Year Over Year Across Most Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the Q2 2020 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Q2 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 Premium Renewal Rates Continue to Increase Year Over Year Across Most Major Commercial Lines
WTW and Sompo Global Risk Solutions Launch Insurance Platform for Middle Market Commercial Real Estate Firms
Willis Towers Watson, a leading global advisory, broking and solutions company, announces that it has entered into a strategic partnership with Sompo Global Risk Solutions (GRS) to create an integrated insurance platform to serve the needs of the middle market commercial real estate segment. The Willis Towers Watson Retail, Office and Industrial (ROI) platform offers… Continue reading WTW and Sompo Global Risk Solutions Launch Insurance Platform for Middle Market Commercial Real Estate Firms
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
Premium Renewal Rates Experience Changes Across All Major Commercial Lines of Business
IVANS®, a division of Applied Systems®, today announced the April results of the IVANS Index™, the insurance industry’s premium renewal rate index. Month over month, the results showed varied change in premium renewal rates, specifically, General Liability, Umbrella and Workers’ Compensation experienced an uptick in rate, and Commercial Auto, BOP and Commercial Property experienced a… Continue reading Premium Renewal Rates Experience Changes Across All Major Commercial Lines of Business
Berkshire Hathaway GUARD Adding Commercial Package Coverage
Berkshire Hathaway GUARD Insurance Companies is adding a Commercial Package product that will include coverages for Property, General Liability, Umbrella, and Employment-Related Practices Liability Insurance (EPLI). According to GUARD CEO Sy Foguel, “An early April Pennsylvania launch is anticipated with other states to follow. Our goal is to become a ‘One Stop Shop’ for our… Continue reading Berkshire Hathaway GUARD Adding Commercial Package Coverage
August Commercial Insurance Renewal Rates Bounce Back Across Nearly All Major Lines
IVANS®, a division of Applied Systems®, today announced the results of IVANS Index for the month of August, the insurance industry’s premium renewal rate index. Bouncing back from last month’s results of decreasing rate change across almost all lines of business, August results show positive change across nearly all major commercial lines except for Commercial… Continue reading August Commercial Insurance Renewal Rates Bounce Back Across Nearly All Major Lines