"The IVANS Index provides a data-driven pulse on the market, indicating hardening and softening trends across major commercial lines of business," Brian Wood, vice president of Data Products Group, IVANS Insurance Services, said in a statement. "Q1 2020 experienced an increase in premium renewal rate change across all major commercial lines, and we expect to see marked change in the coming months as the industry responds to the COVID-19 pandemic." (Credit: katjen/Shutterstock)
The first-quarter results for 2020 show an increase premium renewal rate change across nearly all major commercial lines of business, including commercial auto, business owners policies (BOP), general liability, umbrella and commercial property insurance compared to the fourth quarter of 2019, according to data from IVANS, a division of Applied Systems.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
