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Ivans Index Q4 and Year-End 2022 Results Released

January 26, 2023

Average premium renewal rates experience a general uptick across most major commercial products compared to last year

Milwaukee, WI. – January 26, 2023 – Ivans® today announced the results for Q4 and year-end 2022 Ivans Index™, the insurance industry’s premium renewal rate index. The fourth quarter results showed an increase in the average premium renewal rate change across all major commercial lines of business year over year, except Workers’ Compensation which closed with negative year over year premium renewal growth for the sixth straight year. Compared to the prior quarter, Q4 experienced an increase in average premium renewal rate change across most major commercial lines of business, with the exceptions being Umbrella and Workers Compensation.

Premium renewal rate change by line of business for Q4 highlights includes:

  • Commercial Auto: Average premium renewal rate change averaged 5.62% for the quarter and ended the year with 6.13% in December, which was also the quarter high. The quarter low was in October at 5.12%.
  • BOP: Q4 premium renewal rate change averaged 7.01%, representing an increase over last quarter’s average of 6.45%. BOP premium renewal rate change finished the quarter at a high of 7.23% in December. The Quarter low came in November at 6.66%.
  • General Liability: Q4 premium renewal rate change increased from Q3, averaging 5.49% relative to 5.01%. The quarter average premium renewal rate change reached its low of 5.24% at the start of the quarter in October and ended the year in December with the quarter high of 5.71%.
  • Commercial Property: Q4 premium renewal rate change rose quarter over quarter, with an average rate change of 7.95% as compared to 6.95% in Q3. Commercial Property average premium renewal rate change reached its high for 2022 in December at 8.38%, with the quarter low in November at 6.4%.
  • Umbrella: Q4 premium renewal rate change averaged 4.94% versus 5.21% in Q3. Umbrella average premium renewal rate change reached its quarter low in October at 4.44% and its high in December at 5.35%.
  • Workers’ Compensation: Average premium renewal rate change for the quarter reached -1.66%, down from the Q3 average of -1.08%. Workers’ Compensation began the quarter with its high at -01% in October and hit its low in November at -1.77%.

Notably, Commercial Auto, BOP, General Liability, and Commercial Property ended the year with their highest average premium renewal rate change. Commercial Property premium renewal rate change averaged consistently higher compared to all other lines of business in 2022.

“2022’s hard market was reflected in this year’s Ivans Index, showing continued elevation in average premium renewal rates consistently across most major commercial lines,” said Kathy Hrach, vice president of Product Management, Ivans. “Built from the industry’s largest data set, the Ivans Index continues to deliver premium renewal rate insights for the benefit of the entire industry as we navigate ways to best support clients and maximize business profitability.”

Released monthly, Ivans Index is a data-driven report of current conditions and trends for premium rate renewal 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. Inclusive of more than 34,000 agencies and 450 insurers and MGAs, the Ivans Index is reflective of the premium rate change trends being experienced by all agencies and insurers across the U.S. insurance market. Ivans Index is available to agencies and insurers as part of Market Insights at

Download the complete Q4 and Year-End 2022 IVANS Index report.

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About Ivans

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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