Marginal Q3 Changes In Policy Renewal Rates, Report Shows

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By Eli Flesch (November 12, 2021, 7:43 PM EST) — Renewal rates for insurance policies across most commercial lines changed marginally in the third quarter of 2021, according to insurance product distribution company IVANS, which said most of the renewal rates stayed positive.

IVANS reported Tuesday that renewal rates for workers’ compensation policies stayed negative — the outlier in a quarter when there were otherwise more renewals than not in lines for commercial auto, general liability, commercial property and umbrella.

The findings came amid a backdrop of recent reports showing that policy premiums are increasing for cyber and property insurance, and another estimate showing that the global commercial insurance market is…

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