Ivans, a division of Applied Systems, has released Ivans Index results for the fourth quarter of 2025, showing year-over-year changes in average premium renewal rates across all major commercial business lines except workers’ compensation.
Average premium renewal rates for general liability, commercial real estate, and umbrella lines increased compared to the prior quarter, while average premium renewal rates for commercial auto, business owner’s policies, and workers’ compensation decreased compared to Q3’25.
By business scope, the premium renewal rate change of commercial automobiles averaged 6.97% in 4Q25, which was lower than 7.60% in 3Q25. The fourth quarter started in October, with the highest interest rate changes in the quarter, with an average of 7.57%, and ended in December, with the lowest interest rate changes in the quarter, with an average of 6.46%.
In terms of international balance of payments, the average premium renewal rate changed to 7.52%, a slight decrease from 7.55% in the previous quarter. The highest was 7.58% in December and the lowest was 7.46% in November.
General liability averaged 7.23%, a significant increase from 5.89% in the third quarter of 2025. The lowest interest rate change this quarter occurred in October, at 7.04%, and the highest occurred in December, with an average of 7.52%.
Commercial real estate was 8.01%, higher than the 7.64% in the previous quarter, with the quarterly high in December being 8.34% and the lowest in October being 7.61%.
Umbrella grew slightly quarter-on-quarter, from 8.99% to 9.49%. November had the lowest interest rate change, at 9.18%, and December had the highest interest rate change, with an average of 10.07%.
In Q4’25, workers’ compensation averaged -1.61%, down from -1.42% in Q3’25. Interest rate changes in the fourth quarter reached their highest level for the quarter in November, averaging -1.52%, and reaching their lowest level for the quarter in December, averaging -1.77%.
“The commercial insurance market overall remains strong, although renewal trends suggest it is gradually moving away from the peak conditions of recent years,” said Kathy Hrach, senior vice president of product management at Ivans. “As airlines are pressured to balance growth targets with primary and secondary loss risks, the Evans Index will be a key gauge of how the industry responds to broader market dynamics in 2026.”
