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Home / Insurance / Most commercial interest rate changes increase during the second quarter: Ivans

Most commercial interest rate changes increase during the second quarter: Ivans



The rate of change during the second quarter of 2021 for most major commercial operations increased from year to year, in addition to workers' compensation, according to a report Wednesday from Ivan's Insurance Services, a division of Tampa, Florida-based Applied Systems Inc. [19659002] sequentially with results from the first quarter of 2021, changes in the second quarter's renewal rate for commercial cars, corporate policy, general liability and umbrella lines increased, while commercial property and labor compensation decreased.

In commercial real estate lines, the average change in the premium renewal rate was 5.54% compared to 5.82% in the first quarter and 5.29% in the second quarter of 2020. The change in the premium renewal's share of the quarter reached its lowest point of 5.43% in May and the highest of 5.68% at the end

For commercial cars, the average change in the premium renewal rate during the second quarter was 4.51

%, an increase from 4.25% during the first quarter, but a decrease from 4.72% during the second quarter 2020 The quarter began with a highest level of 4.65% and ended with a low of 4.28%.

In general debt interest rates, the changes in the premium renewal period during the second quarter were 3.95%, up from 3.74% in the first quarter and 3.29% in the second quarter of 2020. The changes in the premium renewal rate were lowest in May, 3.79% and highest in June, 4.07%.

For entrepreneurs, the second quarter of the renewal rate increased by an average of 4.59%, an increase from 4.53% in the first quarter but down from 4.97% in the second quarter of 2020. The lowest interest rate change of 4.48% was in May and the highest of 4.66% at the end of the quarter.

In umbrella lines, the premium renewal during the second quarter was an average change of 4.40%, compared with 4.24% during the first quarter and 3.25% during the second quarter of 2020. The change in the umbrella lines' premium renewal began the quarter with a minimum value of 4 , 29% and ended with a quarterly increase of 4.60%. [19659002] In labor compensation, the rate of premium change decreased by an average of 1.74% compared to d own 1.38% in the first quarter and down 2.41% in the second quarter of 2020. The average change in premium renewal was highest in May, decreased by 1, 52% and lowest at the end of the quarter, a decline of 2.06%.

Ivans says it tracks more than 120 million data transactions in its pricing analysis.

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