How Commercial Insurance Rates Changed in Q4 and 2018: IVANS

Renewal premium rates for nearly all major commercial insurance lines increased in the fourth quarter of last year with the exception of workers’ compensation where the average rate dropped and remained negative.

The 2018 IVANS Index for Q4 and year-end shows that commercial auto, general liability, commercial property and umbrella all experienced the greatest premium renewal rate change from the year prior in Q4. The Q4 negatIve change for workers’ compensation was consistent with the full year’s results for that line.

For its index, IVANS, a division of insurance technology firm Applied Systems. analyzes more than 120 million data transactions to measure the premium difference year over year for a single consistent policy. The data is from more than 32,000 agencies and 380 insurers and managing general agencies.

The analysis of premium renewal rate change by line of business for Q4 and 2018 showed:

“The end of 2018 experienced the greatest change in premium renewal rates from the year prior for nearly all major commercial lines products,” said Brian Wood, vice president of Data Products Group, IVANS Insurance.