Most Commercial Lines Continue Premium Increases in February 2025

Most major commercial insurance lines experienced year-over-year increases in average premium renewal rates in February 2025, according to the IVANS Index, a premium renewal rate index compiled by the IVANS insurance exchange service. However, month over month, nearly all major commercial lines posted decreases in average premium renewal rates, with the exception of commercial auto, which saw a slight increase.

Commercial auto, businessowners policy (BOP), general liability, commercial property, and umbrella continued to show positive year-over-year renewal rate increases, while workers compensation renewal rates remained in decline.

Premium renewal rate changes by line of business during February 2025 include the following.

• Commercial auto. The average premium renewal rate change for commercial auto was 9.53 percent in February, up from 9.41 percent the prior month.

• BOP. The average BOP premium renewal rate change was 8.48 percent in February, down from 9.02 percent in January.

• General liability. General liability posted a 3.95 percent premium renewal rate change in February, down from 4.19 percent in January.

• Commercial property. The average premium renewal rate change for commercial property was 8.34 percent in February, down from 9.74 percent in January.

• Umbrella. The average premium renewal rate change for umbrella was 9.03 percent in February, down from 9.47 percent in January.

• Workers compensation. The average premium renewal rate change for workers compensation was -1.55 percent in February, down from a -1.44 percent decrease in January.

The IVANS Index is released monthly and is based on the analysis of over 120 million commercial insurance transactions, reflecting data from more than 38,000 agencies and 700 insurers and managing general agents across the US insurance market.