U.S. commercial insurance rates moderate to 2.9% as market continues to stabilize
Commercial Lines Insurance Pricing Survey: Q4 2025
NEW YORK, March 11, 2026 (GLOBE NEWSWIRE) -- U.S. commercial insurance rates increased 2.9% in the fourth quarter of 2025, continuing the gradual moderation from the previous two quarters (3.8% in Q2 and Q3 2025), according to the latest findings from WTW's Commercial Lines Insurance Pricing Survey (CLIPS). The survey compares premiums for policies underwritten in a given quarter compared with the same coverage lines in the prior year, providing a year-over-year perspective. Carriers reported an aggregate price increase of 2.9% in Q4 2025, down from 5.6% in Q4 2024.
Price growth continued to moderate across most commercial lines in the fourth quarter, with commercial property again recording price decreases and general/products liability increases continuing to moderate. Commercial multi-peril and business-owners policy insurance also saw smaller increases compared with the prior quarter. Excess/umbrella liability remained the line with the largest price increases though lower than prior quarter, while commercial auto continued to experience strong growth. Small and mid-market accounts recorded more moderate increases than in previous periods, and large account pricing continued to rise at a slower pace. Several other lines maintained price decreases, reinforcing the broader trend of moderation across the market.
“Commercial insurance pricing continued to moderate in the fourth quarter, reflecting a more stable market,” said Yi Jing, senior director, Insurance Consulting and Technology (ICT), WTW. “While some lines continue to see increases, others are flattening or declining, highlighting a more measured approach across the market.”
CLIPS is a retrospective look at historical changes in Commercial Property & Casualty insurance (P&C) prices and claims cost inflation. A forward-looking analysis of Commercial P&C trends, outlook, and rate predictions can be found in .
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About CLIPS
CLIPS data are based on both new and renewal business figures obtained directly from carriers underwriting the business. CLIPS participants represent a cross-section of U.S. P&C insurers that includes many of the top ten commercial lines companies and the top 25 insurance groups in the U.S. This survey compared prices charged on policies written during the fourth quarter of 2025, with the prices charged for the same coverage during the same quarter of 2024. For this most recent survey, 41 participating insurers representing approximately 20% of the U.S. commercial insurance market (excluding state workers compensation funds) contributed data.
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