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For the third quarter of 2025, average premium renewal rates have increased across all major commercial lines of business year over year, except Workers’ Compensation, according to the latest Ivans Index.
However, the overall trend for Q3 2025 was a decrease in the average rate change for most lines of business compared to the previous quarter. This suggests that while premiums are still up year-on-year, they are rising at a slower pace than before.
The two notable exceptions to this slowdown were General Liability and Workers’ Compensation, which experienced an increase in their average renewal rate change compared to Q2 2025.
General Liability renewal rate change averaged 5.89% versus 4.66% in Q2 2025, and Workers’ Compensation averaged -1.42% in Q3 2025, up from Q2 2025 at -1.75%.
Commercial Auto’s Q3 2025 premium renewal rate change decreased from last quarter, averaging 7.60% compared to Q2 2025’s average premium renewal rate change of 8.43%.
BOP premium renewal rate change decreased to an average of 7.55% compared to Q2 2025’s 7.87%. Premium renewal rate change for Commercial Property averaged 7.64% in Q3, compared to 7.89% in Q2.
Average premium renewal rate change for Umbrella experienced a slight decrease during Q3 2025 at 8.99% versus 9.07% in Q2 2025.
Kathy Hrach, senior vice president of Product Management, Ivans, commented: “The change of premium renewal rates continued to ease across most key commercial lines this quarter, extending the pattern of gradual softening we’ve observed since earlier in the year.
“A more balanced market between carrier appetite and available capacity — combined with the hard-market repricing largely already absorbed in prior renewals — is tempering the pace of increases, and the Ivans Index shows where that normalization is taking hold.”
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