The November 2025 Ivans Index showed continued upward pressure on renewal rates across most US commercial insurance lines, with the exception of workers' compensation.
Year-over-year, commercial auto, business owner's policy (BOP), general liability, commercial property and umbrella all recorded increases in average premium renewal rates, while workers' compensation remained negative. Meanwhile, month-over-month changes were mixed. General liability, commercial property and workers' compensation saw increases in premium renewal rate change, whereas commercial auto, BOP and umbrella experienced slight declines.
Specifically, commercial auto renewal rates were 6.87% in November, down from 7.57% in October. BOP decreased slightly to 7.46% from 7.51%. General liability rose to 7.14% from 7.04%, while commercial property increased to 8.08% from 7.61%. Umbrella policies declined to 9.18% from 9.22%, and workers’ compensation showed a minor improvement to -1.52% from -1.53% in October.
Year-to-date, the data shows persistent rate growth in property and liability lines, with commercial property and umbrella consistently leading the increases. These trends reflect ongoing claims inflation, higher loss costs and underwriting adjustments across multiple sectors.
Commercial auto and BOP have seen moderate year-to-date gains, suggesting gradual rate stabilization in those lines, while workers' compensation has remained flat or negative, continuing to reflect soft market conditions in many regions.
The November results indicated that commercial carriers are selectively adjusting pricing by line. Last month, most coverages also experienced rising rates, while workers' compensation continued to face downward pressure.
Property, general liability and umbrella coverage are experiencing the largest upward momentum as insurers respond to increased exposure and broader economic pressures. Workers' compensation continues to show rate softness, driven by competitive pressures and lower claim severity or frequency trends in some states.
The Ivans Index tracks more than 120 million transactions across over 38,000 agenices and 700 carriers and MGAs, providing a broad, data-driven view of premium renewal rate trends in the US commercial lines market.
Analysts noted that the index continues to highlight a market where insurers are balancing rate increases in higher-risk or high-loss lines with targeted adjustments in more competitive segments.
