| Trend | Range | |
|---|---|---|
| Favorable risks | ||
Property |
 |
Flat to +8% |
General liability |
 |
Flat to +5% |
Automobile |
|
+10% to +15% |
Workers’ compensation |
 |
-5% to flat |
Umbrella and excess liability |
|
+5% to +15% |
| Challenging risks | ||
Property |
|
+10% to +20% |
General liability |
|
+10% to +20% |
Automobile |
|
+20% to +30% |
Workers’ compensation |
|
+5% to +10% |
Umbrella and excess liability |
|
+15% to +30% |
Key takeaway
The property and casualty insurance market continues to shift, with property rates continuing to stabilize and casualty lines facing mounting pressures. Despite property stabilization, carriers remain firm on rate increases for high-hazard clients and are carefully managing capacity and closely monitoring climate-related losses. As the property market becomes more manageable, the casualty market is encountering expected rate increases, re-underwriting and capacity reductions, particularly in excess liability, as legal system abuse and nuclear verdicts drive claims costs. Auto-liability rates continue to climb due to rising claims expenses and continued concerns with distracted driving, while workers’ compensation remains a strong performer, offering a competitive landscape. A bifurcated market is expected to persist, with favorable business classes benefiting from increased competition and new market entrants, while high-risk accounts must differentiate themselves to mitigate premium costs. As market dynamics evolve, multi-line solutions remain a valuable strategy for middle-market clients, helping to leverage coverage and offset premiums. However, businesses must navigate new exclusions, shifting attachment points and capacity constraints, making strategic risk management and proactive renewal planning more critical than ever.
