Premium renewal rates increased year-over-year for all major commercial lines, except workers’ compensation, according to second quarter 2025 results of the Ivans Index.
The Chicago-based technology provider for insurance carriers, agents, and managing general agents said the average premium renewal rate for all major commercial lines except workers’ compensation increases in Q2 2025, but was overall lower compared to the averages from Q1 2025.
“Similar to last quarter, premium renewal rates decreased for nearly all major commercial lines during Q2, continuing the trend of a slowly softening market after several hard market years,” said Kathy Hrach, senior vice president of product management, Ivans.
The Ivans Index found renewal rates decreased compared to Q1 2025 in commercial auto, commercial property, businessowners policy (BOP), and umbrella. The rate change for workers comp was down again in Q2, but fell even more (-1.75% versus -1.5% in Q1 2025). General liability was the only lines of business tracked where the increase in Q2 was higher than that of Q1 (about 4.7% compared to nearly 4%).
Premium renewal rates in Q2 increased about 8.4% in commercial auto—down from increases of about 9.2% in Q1. Commercial property rates were up nearly 8% in Q2, which was down from renewal rates that were up about 8.6% in Q1. Premiums renewals were 10.85% in Q2 2024.
BOP renewal rates were up about 7.9% in Q2 compared to up about 8.6% in Q1. Umbrella rates changes increased about 9.1% in Q2, slightly lower than when renewals were up about 9.3% in Q1.
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