Skip to content

Visit Our Family of Brands

Customer Login Applied University

Registration is open for Applied Net 2024! Sign up through May 31 to get the best price.   Register Now

Applied Releases Commercial Lines Premium Rate Index Findings for Q2 2022

August 18, 2022

Year-over-year average premium rates increased while quarterly rate change experienced a downturn across most major commercial lines

Mississauga, ON – August 18, 2022 – Applied Systems® today announced the second quarter 2022 results of the Applied Commercial Index™, the Canadian insurance industry’s premium rate index. Year over year, average renewal rate change across all lines decreased to 8.95% in Q2 2022 from 9.12% in Q2 2021. All lines of business, except Retail and Business & Professional Services, saw decreases compared to the same quarter last year.

Quarter over quarter, Q2 2022 results showed average renewal rate change increased across all lines of the most commonly placed Commercial Lines categories, including Business and Professional Services, Construction, Hospitality Services, Real Estate Property and Retail Services.

Significant findings include:

  • Real Estate Property: Premium renewal rate change average was 8.81% for the quarter, up from the Q1 2022 average of 8.75%.
  • Business and Professional Services: Q2 2022 premium renewal rate change average was 8.72%, up from the Q1 2022 average of 7.96%.
  • Construction, Erection and Installation Services: Premium renewal rate change average was 9.80% for the quarter, up from the Q1 2022 average of 9.32%.
  • Hospitality Services: Q2 2022 premium renewal rate change average was 8.82%, up from the Q1 2022 average of 8.02%.
  • Retail Services: Premium renewal rate change averaged 9.51%, up relative to the Q1 2022 average of 8.59%.

“While premium renewal rates are lower than this time last year, we are seeing a steady increase in rates since the start of the year,” said Steve Whitelaw, senior vice president and general manager, Canada, Applied Systems. “Our index supports the anecdotal evidence that we are indeed in a hard market. As we make our way into the second half of 2022, our quarterly index will show if the market continues this trend.”

Access the complete quarterly report here.


# # #


Applied Commercial Index is a trademark of Applied Systems, Inc. All data is fully anonymized when aggregating and analyzing the Applied Commercial Index.

About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

Ready to Learn More?

When you’re ready to learn more about leveraging advanced insurance software and solutions to build a better insurance business, we’re here to help.