You are here:HomeNews CenterInsurance News2017IVANS: All Commercial Rates Up in May

IVANS: All Commercial Rates Up in May

The May IVANS Index released June 1 shows that for the first time in several months, premium renewal rates in all major commercial insurance lines are in positive territory...
June 7, 2017

The May IVANS Index released June 1 shows that for the first time in several months, premium renewal rates in all major commercial insurance lines are in positive territory. According to the index, commercial auto rose to 2.66 percent from 2.65 percent at the end of April; business owner’s policy was 4.49 percent, up from 4.02 percent; and workers’ compensation was 0.58 percent, up from -0.19 percent. However, general liability was 1.46 percent, down from 2.02 percent at the end of April; commercial property was 2.78 percent, down from 2.95 percent; and umbrella was 0.81 percent, down from 1.04 percent.

The IVANS Index for April showed most standard commercial lines products had an uptick in premiums at renewal, with workers’ compensation again being the main exception. Business owners and commercial property policyholders saw the biggest premium increases in April.

IVANS, a division of Applied Systems, releases the IVANS Index on a monthly basis, measuring projected premium renewal rate change against industry averages.

Filed under: