Premium renewal charges elevated yr over yr for all main business traces, besides employees’ compensation, in line with the January 2025 results of the Ivans Index.
Month over month, business auto, enterprise house owners coverage (BOP), and business property skilled decreases in premium renewal price change, whereas normal legal responsibility, umbrella and employees’ compensation noticed a rise.
Premium renewal price change by line of enterprise for January 2025 highlights embrace:
- Industrial Auto: 9.4%, down from almost 10% final month, however up from January 2024, which was 7.4%.
- BOP: 9%, down from 9.6% on the finish of December. This can be a slight lower from final yr’s 9.3% in January.
- Common Legal responsibility: 4.2%, up barely from December, which was 4.16%, and reducing from January 2024, which was 5.4%.
- Industrial Property: 9.74%, down considerably from 11.1% in December, in addition to from 10.3% in January 2024.
- Umbrella: 9.5%, up from 9.1% in December 2024 and 6.35% in January 2024.
- Staff’ Compensation: -1.44%, up barely from -1.45% final month, however down from -0.67% in January 2024.
The Ivans Index is a data-driven report of present circumstances and tendencies for premium price renewal change of probably the most positioned business traces of enterprise within the insurance coverage trade. It analyzes greater than 120 million information transactions, and measures the premium distinction yr over yr for a single constant coverage.
Supply: IVANS Index
Subjects
Trends
Workers’ Compensation
Commercial Lines
Business Insurance
Pricing Trends
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