Most US commercial insurance lines continued to post higher premium renewal rates in the fourth quarter of 2025, but some increases slowed compared with earlier in the year, according to the latest Ivans Index.
Year over year, premium renewal rates rose across all major commercial lines except workers’ compensation. Compared with the third quarter of 2025, renewal rates increased for general liability, commercial property, and umbrella, while commercial auto, business owner’s policy, and workers’ compensation recorded lower averages.
Commercial property and umbrella continued to have the highest renewal rates. Commercial property averaged 8.01% in the fourth quarter, up from 7.64% in the previous quarter. Rates were lowest in October at 7.61% and climbed to 8.34% in December. Umbrella averaged 9.49% for the quarter, compared with 8.99% in the third quarter, and reached a high of 10.07% in December.
General liability renewal rates also moved higher. The fourth-quarter average was 7.23%, up from 5.89% in the prior quarter. Rates increased each month, starting at 7.04% in October and ending at 7.52% in December.
Other lines showed easing. Commercial auto renewal rates averaged 6.97% in the fourth quarter, down from 7.60% in the third quarter. Rates fell from 7.57% in October to 6.46% in December. Business owner’s policy renewal rates averaged 7.52%, slightly lower than the 7.55% recorded in the previous quarter, with only small monthly changes.
Workers’ compensation remained the only major line with negative renewal rate changes. The fourth-quarter average was -1.61%, compared with -1.42% in the third quarter. November posted the smallest decline at -1.52%, while December had the largest at -1.77%.
“The commercial insurance market remains firm overall, though renewal trends suggest it is gradually moving off the peak conditions of recent years,” said Kathy Hrach, senior vice president of product management at Ivans.
“As carriers balance growth objectives with pressure from both primary and secondary loss exposure, the Ivans Index will serve as a key gauge for how the industry navigates broader market dynamics in 2026.”
The Ivans Index is released monthly and tracks year-over-year premium renewal rate changes for commonly placed commercial policies. It is based on more than 120 million data transactions from over 38,000 agencies and 600 insurers and managing general agents across the U.S. insurance market.
