May commercial property renewal rate increases slow to 9.89%: Ivans
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May commercial property renewal rate increases slow to 9.89%: Ivans

Kyoung-son Song
June 14, 2023
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Premium renewal rate increases for commercial property in May fell to 9.89% from 10.09% in April, marking the first month-on-month slowdown since October 2022, according to Ivans pricing data.

May’s increased rates for the business line remained higher than the Q1 2023 average of 8.89%.

Compared to April, all lines of business tracked by Ivans experienced decreases in premium renewal rate changes, except for commercial auto.

The

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Kyoung-son Song
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