US commercial insurance premiums rose by 2.9% in the fourth quarter of 2025, continuing a steady slowdown from the 3.8% increases seen in the second and third quarters, according to global advisory and brokerage firm WTW’s Commercial Lines Insurance Pricing Survey (CLIPS).
Insurers reported an overall 2.9% increase in Q4 2025, down from 5.6% in Q4 2024. Price growth moderated across most commercial lines, with commercial property insurance seeing falls in premiums and general and products liability increases easing. Commercial multi-peril and business-owners policies recorded smaller rises than in the previous quarter.
Excess and umbrella liability continued to experience the largest increases, though lower than the prior quarter, while commercial motor insurance maintained strong growth.
Small and mid-market accounts saw more modest increases, and pricing for large accounts continued to rise at a slower pace. Several other lines also saw declines, reinforcing the broader trend of moderation in the market.
“Commercial insurance pricing continued to moderate in the fourth quarter, reflecting a more stable market,” added 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.”
