Ivans Q1 Index Again Shows Decline in Premium Renewal Rate

•  Insurance data firm Ivans said that workers’ compensation lines bucked year-on-year commercial lines premium renewal increases in the first quarter of the year.
• Workers’ comp premium renewal rate changes averaged -1.51% in Q1 2025, down slightly from Q4 2024 at -1.47%.
• The quarter started with its highest premium renewal rate change, averaging -1.44% in January and reaching its lowest rate of -1.55% in February.
• The average premium renewal rate change was significantly lower in Q1 2025 compared to Q1 2024, which averaged -0.88%, with the most significant change in February 2025 at -1.55% compared to -0.40% in February 2024.
• Maine experienced a consistently lower premium renewal rate change relative to the quarter average across all three months, beginning in January with -6.47%, -6.62% in February, and ending at -6.38% in March.
• Commercial lines broadly experienced a decrease in average premium renewal rates in the first three months of 2025  compared to Q4 2024, with the exception of Umbrella, which increased.
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Canadian Unions Opposing $2B Employer Refund

• UFCW Canada has joined other unions in opposing Ontario’s Workplace Safety and Insurance Board’s (WSIB) second $2 billion rebate to employers, expected to be issued by June.
• Earlier this month, WSIB announced the rebate, part of a broader $11 billion provincial package aimed at stabilizing the economy amid rising trade tensions and financial market volatility.
• That was on top of a previous $2 billion rebate that went out earlier this year.
• The private-sector labor group represents more than 250,000 food and commercial workers.
• “We believe that money should be going to support injured workers,” says Debora DeAngelis, director of political action and member engagement for UFCW Locals 175 and 633. “When you deny the benefits, that’s when there is a surplus. There should not be a surplus. This is what we believe.”
• WSIB president and CEO Jeffery Lang says the rebate reflects the organization’s strong financial footing. “Today we’re in the strongest financial position in our history, and it’s only right to pass that on to the people who pay the premiums – Ontario businesses,” Lang said. Eligible employers will receive the funds automatically, with no application required.
• Last month, the Canadian Union of Public Employees began running an ad campaign calling out the refunds, saying “Instead of offering rebates, WSIB should be looking into key reforms to ensure greater safety to Ontario workers while contributing to Ontario’s economy during an uncertain time.
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