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Overall in 2024, the average premium renewal rate change was higher for most commercial lines of business compared to 2023, with only general liability and workers’ comp seeing slightly lower changes. (Credit: leszekglasner/Adobe Stock)The average premium renewal rate change for all major commercial lines of business except for workers’ compensation is up year over year, according to the Q4 2024 Ivans Index report.
In Q4 2024, Ivans reports commercial auto, BOP and umbrella policies all saw an increase in the average premium renewal rate change. General liability, commercial property and workers’ comp, however, all experienced a decrease.
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