US commercial insurance prices increased 0.5% in the second quarter of 2026, according to WTW’s Commercial Lines Insurance Pricing Survey. The result shows further moderation from a 2.5% increase in the first quarter and 3.8% in the second quarter of 2025.
CLIPS compares premiums for commercial policies written during the quarter with prices for equivalent coverage a year earlier. The latest results show pricing moving closer to flat across several property and casualty lines.
Commercial Property recorded the largest price decline during the quarter. The decrease was also greater than in the first quarter, extending the softening already visible in that segment.
General and Products Liability pricing continued to moderate. Directors and Officers insurance moved back to a small increase after several consecutive quarters of declining prices.
Pricing also weakened across most account sizes. Small Commercial and Mid-Market Commercial still recorded increases, though both moderated compared with previous quarters.
Large Account Commercial moved into negative territory for the first time since late 2017. Specialty lines remained positive, although price growth was limited.
Commercial insurance pricing is continuing to move toward a more balanced market, with overall price increases moderating across many lines. Some segments still face upward pressure, but the pace of pricing change has slowed considerably.
Yi Jing, Managing Director, Insurance Consulting and Technology at WTW
WTW’s broader North American market outlook describes many commercial lines as favorable for buyers with good loss histories and detailed risk information. Property and Financial Lines are among areas where competition has increased and pricing has become more accommodating.
Several lines remain more difficult. WTW identified auto liability, unsupported umbrella and excess liability as segments where buyers continue to face pricing and capacity pressure.
Political Violence, Terrorism and Marine are also seeing tighter conditions for risks exposed to the Middle East. Depending on the account, buyers may encounter higher pricing, narrower coverage or reduced aggregate capacity.
WTW also pointed to tariff uncertainty, climate-related volatility and third-party litigation funding as factors affecting commercial insurance. AI, digital dependency and geopolitical instability are adding further underwriting considerations across multiple lines.
The broker said savings achieved in softer areas such as Property and Financial Lines may give buyers room to reconsider limits, retentions or alternative risk structures. Those decisions will depend on the individual account and the type of emerging exposure being insured.
CLIPS provides a retrospective measure of pricing changes and claims cost inflation across US commercial P&C insurance. WTW publishes separate forward-looking rate expectations and market commentary through its Insurance Marketplace Realities series.
The second-quarter data shows the broader pricing cycle continuing to lose momentum. Aggregate commercial insurance pricing remained positive, but the 0.5% increase was substantially below both the previous quarter and the comparable period in 2025.
