Ivans, a division of Applied Systems, has released its January 2025 Ivans Index results, showing that more major commercial lines saw a deceleration rather than an acceleration in average premium renewal rates year over year.
Month over month, Commercial Auto, BOP, and Commercial Property saw decreases in renewal rate changes, while General Liability, Umbrella, and Workers’ Compensation experienced increases.
For Commercial Auto, the average premium renewal rate for January 2025 was 9.41%, down from 9.99% in December but up from 7.4% in January 2024.
BOP was 9.02%, down from 9.59% in December and slightly below last year’s 9.33% in January.
General Liability averaged 4.19%, up slightly from 4.16% in December but down from 5.38% in January 2024.
Commercial Property declined to 9.74% from 11.12% in December and 10.30% a year earlier.
Umbrella rose to 9.47%, up from 9.09% in December and 6.35% in January 2024.
Workers’ Compensation renewal rate change was -1.44%, up slightly from -1.45% last month but down from -0.67% a year earlier.
