U.S. commercial insurance rates ease to 3.8% increase
WTW (NYSE:WTW) released its Commercial Lines Insurance Pricing Survey (CLIPS) for Q2 2025, revealing U.S. commercial insurance rates increased by 3.8%, down from 5.3% in Q1 2025 and 5.6% in Q4 2024.
The survey showed varied trends across insurance lines: workers compensation, directors' and officers' liability, and cyber experienced price decreases, while commercial property recorded its first price decline after several quarters of slowing growth. Excess/umbrella liability saw the largest increases, and commercial auto maintained double-digit growth. Small and mid-market accounts experienced slightly lower increases, while large accounts continued to rise at a slower pace.
WTW (NYSE:WTW) ha pubblicato il suo sondaggio Commercial Lines Insurance Pricing Survey (CLIPS) per il Q2 2025, mostrando che i tassi delle assicurazioni commerciali negli USA sono aumentati del 3,8%, in calo rispetto al 5,3% del Q1 2025 e al 5,6% del Q4 2024.
Il sondaggio evidenzia dinamiche differenziate per ramo: infortuni sul lavoro, responsabilità di amministratori e dirigenti e cyber hanno registrato diminuzioni dei prezzi, mentre la property commerciale ha segnato il primo calo dopo diversi trimestri di rallentamento della crescita. Le maggiori crescite si sono avute per le responsabilità eccessive/umbrella, e il commercial auto ha mantenuto una crescita a due cifre. Conti small e mid-market hanno subito aumenti leggermente inferiori, mentre i grandi conti continuano a salire ma a ritmo più lento.
WTW (NYSE:WTW) publicó su encuesta Commercial Lines Insurance Pricing Survey (CLIPS) para el T2 2025, revelando que las tarifas de seguros comerciales en EE. UU. aumentaron un 3,8%, por debajo del 5,3% en el T1 2025 y del 5,6% en el T4 2024.
La encuesta mostró tendencias variadas por ramo: compensación laboral, responsabilidad de directores y ejecutivos y ciber registraron descensos de precios, mientras que la propiedad comercial anotó su primera caída tras varios trimestres de desaceleración del crecimiento. Las mayores subidas se dieron en exceso/umbrella liability, y el automóvil comercial mantuvo un crecimiento de dos dígitos. Las cuentas pequeñas y medianas tuvieron incrementos algo menores, mientras que las grandes cuentas siguieron subiendo pero a un ritmo más lento.
WTW (NYSE:WTW)는 2025년 2분기 상업보험 요율 조사(Commercial Lines Insurance Pricing Survey, CLIPS)를 발표했으며, 미국 상업보험 요율이 3.8% 상승했다고 밝혔습니다. 이는 2025년 1분기 5.3%와 2024년 4분기 5.6%보다 낮은 수치입니다.
조사에 따르면 손해보험 항목별로 다른 흐름이 나타났습니다. 산재보상, 임원배상(D&O), 사이버은 가격이 하락한 반면, 상업용 재산보험은 성장 둔화 이후 처음으로 가격 하락을 기록했습니다. 엑세스/엄브렐라 책임보험이 가장 큰 인상폭을 보였고, 상업용 자동차보험은 두 자릿수 성장세를 유지했습니다. 소규모 및 중형 계정은 인상폭이 다소 낮았고, 대형 계정은 더 느린 속도로 상승세를 이어갔습니다.
WTW (NYSE:WTW) a publié son enquête Commercial Lines Insurance Pricing Survey (CLIPS) pour le T2 2025, révélant que les tarifs des assurances commerciales aux États-Unis ont augmenté de 3,8%, en baisse par rapport à 5,3% au T1 2025 et 5,6% au T4 2024.
L'enquête montre des tendances contrastées selon les branches : assurance accidents du travail, responsabilité des administrateurs et dirigeants (D&O) et cyber ont connu des baisses de prix, tandis que l'assurance biens commerciaux a enregistré son premier recul après plusieurs trimestres de ralentissement de la croissance. Les plus fortes hausses concernent les excess/umbrella liability, et l'assurance auto commerciale a maintenu une croissance à deux chiffres. Les comptes petits et midsize ont subi des hausses légèrement plus faibles, tandis que les grands comptes continuent d'augmenter à un rythme plus lent.
WTW (NYSE:WTW) veröffentlichte seine Commercial Lines Insurance Pricing Survey (CLIPS) für Q2 2025 und zeigte, dass die US-Gewerbeversicherungstarife um 3,8% gestiegen sind, nach 5,3% in Q1 2025 und 5,6% in Q4 2024.
Die Umfrage ergab unterschiedliche Entwicklungen je Sparte: Arbeitnehmerentschädigung, D&O-Versicherung und Cyber verzeichneten Preisrückgänge, während die Gewerbeimmobilienversicherung nach mehreren Quartalen mit verlangsamtem Wachstum erstmals einen Preisrückgang meldete. Am stärksten stiegen die Preise bei Excess/Umbrella Liability, und Commercial Auto hielt zweistelliges Wachstum. Kleine und mittelgroße Kundenkonten erfuhren etwas geringere Erhöhungen, große Konten stiegen weiterhin, jedoch langsamer.
- Commercial insurance price growth moderation indicates market stabilization
- Price decreases in workers compensation, D&O liability, and cyber lines benefit customers
- Small and mid-market accounts seeing lower price increases
- Commercial auto insurance maintains double-digit price increases
- Large accounts continue to experience price increases, though at a slower rate
Insights
Commercial insurance rate increases are slowing, with Q2 2025 showing 3.8% growth versus 5.3% in Q1 - signaling market stabilization.
WTW's latest Commercial Lines Insurance Pricing Survey (CLIPS) reveals a significant moderation in the commercial insurance pricing environment. The 3.8% increase in Q2 2025 represents a continuing deceleration from the 5.3% in Q1 2025 and 5.6% in Q4 2024, indicating a clear softening trend in the commercial insurance market cycle.
Most notable in this data is the first price decrease in commercial property after several quarters of progressively slower growth. This inflection point suggests the hard market for property coverage that emerged following recent catastrophe losses may be finally turning. Similarly, workers compensation, D&O liability, and cyber all continued their downward pricing trajectory. The only lines maintaining significant upward pressure are excess/umbrella liability and commercial auto, with the latter still experiencing double-digit growth.
The differentiated pricing by account size is particularly telling - with small and mid-market accounts seeing more moderate increases while large accounts, despite showing the most pronounced slowdown, continue facing upward pressure. This segmentation reflects insurers' strategic approach to balancing portfolio profitability with competitive market positioning.
This pricing deceleration signals a potential transition toward a more balanced market - not yet soft, but definitely cooling from the significant hardening seen in recent years. For industry stakeholders, this represents a potential inflection point where pricing power may be gradually shifting back toward insurance buyers after an extended period of carrier advantage.
Commercial Lines Insurance Pricing Survey: Q2 2025
NEW YORK, Sept. 10, 2025 (GLOBE NEWSWIRE) -- U.S. commercial insurance rates increased
Price growth moderated across most lines, with workers compensation, directors’ and officers’ liability, and cyber continuing to have price decreases, and commercial property recording its first price decrease after several quarters of slowing price growth. Excess/umbrella liability saw the largest increases, while commercial auto maintained double-digit growth. Small and mid-market accounts saw slightly lower increases, while large accounts continued to rise, but at a more pronounced slowdown.
"Amidst the ongoing general upward trend, our latest data from the second quarter of 2025 shows a moderation in commercial insurance pricing," said Yi Jing, Senior Director, Insurance Consulting and Technology (ICT), WTW. "While some lines continued to see increases, others remained stable or slightly declined, reflecting a period of more measured rate growth 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 WTW’s Insurance Marketplace Realities series.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
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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 second quarter of 2025, with the prices charged for the same coverage during the same quarter of 2024. For this most recent survey, 42 participating insurers representing approximately
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FAQ
What was the U.S. commercial insurance rate increase in Q2 2025 according to WTW's CLIPS survey?
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What is the trend in commercial insurance pricing for different account sizes according to WTW?
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