Premium Renewal Rates Mixed in May; Workers Comp Still Declines

Commercial insurance premium renewal rates were up year over year for most major commercial lines of business, while workers compensation continued to decline. Month-over-month results were mixed, according to the latest IVANS Index, a monthly report from IVANS, a division of Applied Systems. 

The May 2025 data showed upward movement in premium renewal rates for commercial auto, businessowners policies (BOP), general liability, commercial property, and umbrella compared to the same period last year. Month over month, commercial auto, general liability, and commercial property experienced increases in premium renewal rate change, while BOP, umbrella, and workers compensation saw decreases from April. 

Renewal rate changes in May included the following. 

• Commercial auto: 8.45 percent, up from 8.41 percent in April 
• BOP: 7.89 percent, down from 7.98 percent 
• General liability: 4.86 percent, up from 4.33 percent 
• Commercial property: 7.77 percent, up from 7.70 percent 
• Umbrella: 9.11 percent, down from 9.41 percent 
• Workers compensation: –1.87 percent, down from –1.78 percent 

Despite month-over-month fluctuations, year-over-year rates remained higher across all major commercial lines except workers compensation, which continued to see average renewal premium decreases. 

The IVANS Index analyzes more than 120 million transactions annually to track average premium renewal rate changes for a consistent sample of policies. Drawing from data across over 38,000 agencies and 650 insurers and managing general agencies, the index reflects overall trends in the US commercial insurance market.