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Ivans Index Q3 2022 Results Released

November 01, 2022

Average premium renewal rates for most major commercial lines of business remain up year-over-year and variable compared to last month

UNIVERSITY PARK, Ill. – November 1, 2022 - Ivans® today announced the results for the Q3 2022 Ivans Index™, the insurance industry’s premium renewal rate index. The third quarter results of 2022 showed premium renewal rate change for all major commercial lines of business increased year over year, except Workers’ Compensation which remained negative. Q3 experienced an increase in average premium renewal rate change across Business Owner’s Policy (BOP), General Liability, Commercial Property, and Umbrella compared to Q2 2022, while Commercial Auto and Workers’ Compensation experienced a decrease.

Premium renewal rate change by line of business for Q3 2022 highlights include:

  • Commercial Auto: Q3 average premium renewal rate averaged 4.89%, a decrease compared to Q2 2022’s average premium renewal rate of 5.05%. The quarter began with its lowest rate in July, averaging 4.76% and ended with its highest of 5.05% in September.
  • BOP: BOP premium renewal rate increased in Q3 with an average of 6.45% versus 5.69% in the same quarter of 2022. The quarter premium renewal rate change experienced its low of 6.28% in July and ended the quarter at its high of 6.63%.
  • General Liability: Third quarter premium renewal rate experienced an increase compared to Q2 2022, averaging 5.01% versus 4.76%. Q3 premium renewal rate experienced its low in July at 4.65% and reached its high in September at 5.40%.
  • Commercial Property: Average premium renewal rate change for Commercial Property increased quarter over quarter at 6.95% versus 6.40% in Q2 2022. The quarter premium renewal rate change reached its low of 6.57% in August and experienced its high in September at 7.65%.
  • Umbrella: Q3 premium renewal rate change averaged 5.21%, increasing from 5.19% in Q2 2022. Umbrella premium renewal rate change began with its highest rate of 5.49% in July and experienced its low of 4.9% in August.
  • Workers’ Compensation: Workers’ Compensation premium renewal rate change averaged -1.08%, down from Q2 2022 at -0.73%. The quarter premium renewal rate change experienced its low of -1.24% in July and reached its high of -0.97% in August.

“The Q3 results indicate that we continue to operate in a hardening market,” said Kathy Hrach, vice president of Product Management, Ivans. “Ongoing macro forces, as well as recent weather events, all continue to influence rates and as we look to the fourth quarter, we will continue to track how these commercial lines of business end the year and head into uncertain economic times.”

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. Analyzing more than 120 million data transactions, the Ivans Index premium renewal rate change measures the premium difference year over year for a single consistent policy.

To derive the change in cost, Ivans uses policies that have the same insured, insurer, product type, policy number, expiration date, effective date and producing agency. For example, if an insured paid $1,000 for a policy last year and $1,023 this year, Ivans Index would state that as a premium renewal rate change of 2.3%. Ivans Index does not use exposure-based change or claims experience. Policies with anomaly exposure changes or claims experience are removed.

Download the complete Q3 2022 Ivans Index report here.


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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.

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