Average rate changes decrease in Q2 commercial lines: Ivans
- July 15, 2025
- Posted by: Web workers
- Category: Finance
Average premium renewal rate changes for most major commercial lines of business decreased in the second quarter compared with the first quarter, according to a report Thursday from Ivans Insurance Services, a unit of Applied Systems Inc.
The commercial auto second-quarter premium renewal rate change decreased to 8.43% from first-quarter’s 9.24%. The quarter began with its lowest rate change of 8.41% in April and reached its highest premium renewal rate change of 8.45% in May.
In commercial property, the average premium renewal rate change was 7.89% in the second quarter compared with first quarter’s 8.57%, with a quarter low in April at 7.70% and a high in June at 8.19%.
Business owners policy premium renewal rate changes decreased an average of 7.87% in the second quarter compared with 8.56% in the first quarter. The quarter had its highest rate change in April, averaging 7.98%, and its lowest rate change in June, averaging 7.74%.
The umbrella lines average premium renewal rate change decreased to 9.07% in the second quarter from 9.26% in first-quarter 2025. The quarter began with the highest rate change in April, averaging 9.41%, and ended with its lowest rate change in June, averaging 8.69%.
For general liability, the second-quarter premium renewal rate change average increased to 4.66% compared with first-quarter’s 3.95%. The quarter saw its lowest rate change in April, averaging 4.33%, and reached its highest rate change in May at 4.86%.
The workers compensation premium renewal rate change averaged -1.75% in second-quarter 2025, down from first-quarter 2025 at -1.51%. The quarter reached its lowest premium renewal rate change of -1.87% in May and ended with its highest rate of -1.61% in June.
“Similar to last quarter, premium renewal rates decreased for nearly all major commercial lines during Q2, continuing the trend of a slowly softening market after several hard market years,” Kathy Hrach, senior vice president of product management for Ivans, said in the report.
