Reading through the lines

Here is the breakdown of the premium renewal rate changes across commercial lines, as compiled by IVANS:

Commercial Auto: Premium renewal rate change averaged 4.32% for the quarter, ending at 4.38% for June.
BOP: There was no change over last quarter's average of 4.00%. BOP premium renewal rate change finished the quarter at 4.14% in June.
General Liability: Premium renewal rate change reached 2.16% in April and ended the quarter in June at 2.35%.
Commercial Property: Premium renewal rate change experienced an average rate change of 3.14% as compared to 3.11% in the first quarter.
Umbrella: Premium renewal rate change averaged 1.77% versus 1.49% in the first quarter.
Workers' Compensation: Premium renewal rate change slightly decreased in the second quarter, averaging at -2.49% as compared to -2.47% in the first quarter.

"As the second quarter comes to a close, the IVANS Index shows that the Commercial Lines market continues to harden, providing guidance for agents to advise their clients on policy changes and market intelligence for insurers to support pricing strategies," Brian Wood, vice president of IVANS Markets, said in a statement.

Special Reports /

IVANS Q2 results: Workers' comp only line with negative rate change

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