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IVANS Index Q4 and 2017 Results Released

January 10, 2018

Insurance industry premium renewal rate experiences positive change across nearly all major commercial product lines

Tampa, FL – January 10, 2018 – IVANS, a division of Applied Systems, today announced the results of 2017’s year-end IVANS Index, the insurance industry’s premium renewal rate index. Q4 results showed a slight uptick in premium renewal rate change average across Commercial Auto, Business Owner’s Policy, General Liability, and Commercial Property compared to Q3; however, Umbrella and Workers’ Compensation average premium renewal rate change dropped, with the latter remaining in negative premium renewal rate change territory, making May the only month in 2017 that experienced positive change. Notably, across all lines of business, December was consistently one of the greatest premium renewal rate change months for the year.

Premium renewal rate change by line of business for Q4 and 2017 highlights includes:

  • Commercial Auto: Premium renewal rate change averaged 3.11% for the quarter, with a quarter high in November at 3.24% and ending the quarter at its low of 3.00% in December. The year high and low premium renewal rate change occurred in back to back months, with June at 2.41% and July at 3.28%.
  • BOP: Quarter premium renewal rate change averaged 3.85%, representing an increase over last quarter’s average of 4.79%. BOP premium renewal rate change finished the quarter at 3.79% in December. The year high and low premium renewal rate change occurred in May and October at 4.49% and 3.57% respectively.
  • General Liability: Q4 premium renewal rate change increased from Q3, averaging 1.86% change relative to 1.74%. The quarter premium renewal rate change low reached 1.66% in November and ended the quarter in December at 2.13%.
  • Commercial Property: Q4 premium renewal rate change rose again quarter over quarter, with an average rate change of 2.91% as compared to 2.48% in Q3. The year low and high premium renewal rate change occurred in back-to-back months, with May at 1.46% and June at 2.22%.
  • Umbrella: Q4 premium renewal rate change averaged 1.34% vs. 0.47% in Q3. The year high and low premium renewal rate change occurred in June and September at 3.52% and 2.40% respectively.
  • Workers’ Compensation: Average premium renewal rate change reached a year low at -2.32%, down from Q3 average of -1.18%. The year low and high premium renewal rate change occurred in May and August at 0.81% and 1.56% respectively.

"2017 was one of the highest loss periods in commercial insurance, with catastrophic natural disasters driving significant claims and premium rate changes for most carriers in the U.S.,” said Matt Foran, vice president of IVANS Markets. “Over the past year, the IVANS Index has provided a new view into these movements of the industry on a monthly basis, firmly establishing a new authority for agents and insurers to manage their renewals and pricing models.”

Released on a monthly basis, 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 30,000 agencies and 380 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 2017 Year-End IVANS Index report

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IVANS, a division of Applied Systems, is the insurance industry’s exchange connecting insurers, MGAs, agencies, and the insured. IVANS cloud-based software automates the distribution and servicing of insurance products. For more than 30 years, IVANS innovation and expertise has connected 30,000 independent insurance agencies and 380 MGA and insurer partners to enable millions of people to safeguard and protect what matters most in people’s lives.

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