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IVANS Index: Q2 2021 in Review

August 5, 2021

Ivans logo By: Ivans Communications

Nearly all major commercial lines of business experienced quarterly increases in average premium renewal rate

The second quarter results of 2021 showed premium renewal rate change for all major commercial lines of business increased year over year, except Workers’ Compensation which remained negative. Compared to Q1, Q2 experienced an increase in average premium renewal rate change across Commercial Auto, BOP, General Liability and Umbrella compared to Q1. Commercial Property and Workers’ Compensation experienced decreases in average premium renewal rates.

Key changes from the Q1 2021 results include:

Commercial Line Q1 Q2
Commercial Auto 4.25% 4.51% ↑
BOP 4.53% 4.59% ↑
General Liability 3.74% 3.95% ↑
Commercial Property 5.81% 5.54% ↓
Umbrella 4.24% 4.40% ↑
Workers' Compensation -1.37% -1.74% ↓

For further insights into premium renewal rate change across the industry, download the latest IVANS Index report now.

IVANS Index is a data-driven report of current conditions and trends for premium renewal rate change of the most placed commercial lines of business in the insurance industry. Data collected in the IVANS Index enables insurers to determine competitive rates and the most profitable lines of business for investment.

To learn more about IVANS Index, read IVANS Index: Industry Insights to Help You Run Your Business Better.

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Ivans Communications

Ivans is where insurance carriers, agents, and MGAs come together to grow their businesses. Every day, our 34,000 agents and 450 carrier partners plug into technology that empowers them to better determine appetite and eligibility, swiftly produce quotes, get accurate claims and commission updates, automatically communicate policy data, and connect to one another to drive new business. With easier ways to get the day's work done, insurance professionals can open the door to more revenue without letting complexity in behind it.