US commercial insurance pricing held at a 3.8% increase in Q3 2025, extending a cooling pattern that has played out since early in the year. WTW’s Commercial Lines Insurance Pricing Survey shows the same 3.8% rise in Q2 2025, down from 5.3% in Q1.
The survey tracks year-over-year premium changes by comparing policies written in a given quarter with equivalent coverage written a year earlier.
On that basis, carriers reported an aggregate 3.8% increase for Q3 2025, a sharp step down from the 6.1% increase recorded in Q3 2024.
Pricing pressure continued to ease across most major commercial lines. Workers compensation, directors and officers liability, cyber, and commercial property all moved into rate declines.
According to Beinsure, excess and umbrella liability still posted the strongest increases, though the pace slowed again compared with earlier quarters.
Commercial auto remained an outlier. Rates stayed in double-digit territory, keeping the line among the fastest-rising in the market.
Loss severity, repair costs, and litigation exposure still weigh heavily there, and carriers show little sign of backing off.
Account size mattered. Small and mid-market buyers saw lighter increases than in prior periods. Large accounts continued to face higher pricing, though the rate of increase dropped noticeably, pointing to a market that is settling rather than tightening further.
“US commercial insurance rates held steady in the third quarter of 2025, continuing the gradual easing we’ve seen over the past two quarters,” said Yi Jing, senior director of insurance consulting and technology at WTW.
She said some lines ticked up modestly, others stayed flat, and pricing behavior looked more restrained overall.
CLIPS looks backward, by design. It measures historical shifts in commercial P&C pricing and claims cost inflation rather than projecting future moves.
For a forward view on commercial P&C conditions, rate direction, and carrier expectations, WTW publishes separate analysis in its Insurance Marketplace Realities series.
According to Beinsure analysts, the Q3 data reinforces a simple point. Capacity has improved, competition has returned in several lines, and pricing power is no longer one-sided, even if pockets of stress like commercial auto refuse to cool down.
