Commercial Lines Insurance Pricing Survey 2025 Q3
U.S. commercial insurance prices grew again in the third quarter of 2025, according to WTW’s most recent Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the third quarter of 2025 with those charged for the same coverage during the same quarter in 2024. The aggregate commercial price change reported by carriers spiked upward to nearly 10% in the second through fourth quarters of 2020. Since then, it started to decline and decreased to just below 5% in the fourth quarter of 2022 but increased to above 6% in the second quarter of 2023. Over the second half of 2023 and through the first quarter of 2025, the price increase stayed around 6% but dropped to under 4% in the past two quarters.
With the exception of workers compensation, directors' and officers' liability, commercial property and cyber, data for all other surveyed lines continue to indicate moderate to significant price increases in the third quarter. Most of the lines had a similar price change compared with last quarter. The largest price increases continue to come from excess/umbrella liability. Commercial auto still retained a double-digit price increase. After having significant price increases during 2023, commercial property had its first price decrease during the second quarter of 2025, which continued into the third quarter, following several quarters of progressively moderating price increases.
When comparing account sizes, reported price increases for small and mid-market accounts were slightly lower than the prior quarter. The price increase for large accounts continued to be slightly higher than the one from the prior quarter. Specialty lines continued to maintain an almost flat price change.
