Commercial property rates increase 10.34% in Q4 2023: Ivans
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Commercial property rates increase 10.34% in Q4 2023: Ivans

Ivans commercial property report.jpg

Average commercial property premium renewal rates increased by double digits during Q4 2023, rising 10.34% versus 10.08% in the previous quarter, according to the latest quarterly rate-renewal index from Ivans.

Commercial property rate changes reached their lowest point in November at 9.93%, and peaked in December, averaging 10.67%.

Overall, except for workers’ compensation, all major commercial lines of business saw average premium renewal rate rises year over year.

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