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Commercial insurance renewal rates eased in Q2 2026 across most lines
Umbrella posted the biggest quarterly drop in the Ivans Index, falling from 9.36% in Q1 to 7.96% in Q2 while workers' compensation edged up but stayed negative.
Commercial insurance renewal rates eased in Q2 2026 across most major lines, according to the Ivans Index reported by Insurance Business. Five of six tracked lines showed lower quarterly average renewal rates, extending a softening pricing trend that has been building since late 2025, while all lines except workers' compensation remained higher year over year.
The index showed the clearest year over year moderation in commercial auto, with an average premium renewal rate change of 4.93% in Q2 2026 versus 8.43% in Q2 2025. Commercial auto also fell from 5.28% in Q1 to 4.93% in Q2, while New York ran notably higher than the national average, with monthly figures between 12.80% and 13.98% across the quarter.
Business owners policy (BOP) averaged 6.16% in Q2 2026, down from 6.74% in Q1 and below 7.87% in Q2 2025, with April at 6.43% and June at 5.97%. General liability declined quarter over quarter from 6.85% in Q1 to 5.44% in Q2, though it averaged higher than a year earlier.
Commercial property averaged 6.40% in Q2, below 6.83% in Q1 and 7.89% in Q2 2025, and Michigan was an outlier with monthly changes between 15.78% and 17.78%. Umbrella saw the largest quarterly decline of any tracked line, dropping from 9.36% in Q1 to 7.96% in Q2, remaining the highest rated line in the index, while workers' compensation was the only line to move upward quarter over quarter, improving from -1.73% in Q1 to -1.37% in Q2, with carrier profitability cited as a driver.