An unfinished wooden percentage sign sits on a table next to a variety of smaller wooden numbers. Premium renewal rate changes for general liability lines in Q2 averaged 4.76%, which is up from 4.3% in Q1. (Credit: vadim yerofeyev –

All major commercial lines of business – with the exception of workers’ compensation, which remained negative – saw premium rate renewal changes in the second quarter of 2022, says the latest report from Ivans Index.

Here’s how each line of business fared in Q2 2022, according to the report:

Workers’ compensation

As mentioned previously, workers’ compensation is the only major commercial line of business that saw a negative renewal rate change in the second quarter, with an average of -0.73%. However, this is up from Q1 2022, which saw a renewal rate change of -1.23%.

Commercial auto

Compared to Q2 2021 – when the premium renewal rate was 4.51% – commercial auto saw significant gains in Q2 2022, with a renewal rate change of 5.05%. According to the Ivans Index report, New Mexico was an outlier in commercial auto, with the state consistently showing lower-than-average renewal rate changes, which fluctuated between -2.14% and -14.25% in Q2 2022.

Business owner’s policy (BOP)

The report shows BOPs also saw increased renewal rate changes in Q2, with an average of 5.69%, compared to the 5.32% change in Q1 2022. Utah had the most variable rate, relative to the average, bouncing from 0.01% in April, to 21.66% in May and 4.85% in June.

General liability

Premium renewal rate changes for general liability lines in Q2 averaged 4.76%, which is up from 4.3% in Q1 2022. Compared to the previous year, general liability saw a significant increase, going from 3.79% in May 2021 to 4.85% in May 2022.

Commercial property

Commercial property saw a quarter-over-quarter increase, according to the report, with the renewal rate change going from 6.16% in Q1 2022 to 6.4% in Q2 2022. This is also an increase from Q2 2021’s premium renewal rate change of 5.54%.


Umbrella insurance saw its quarter renewal rate change low in May 2022, at 5.12%, and ended Q2 with an average quarterly rate of 5.19%. West Virginia had the most variable change among the states, with a renewal rate change of 3.26% in April, 13.14% in May and 2.45% in June 2022.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of She can be reached at [email protected].

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