U.S. commercial insurance prices showed an aggregate increase of 2.5%

U.S. commercial insurance prices grew again in the first quarter of 2026, according to WTW’s most recent Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the first quarter of 2026 with those charged for the same coverage during the same quarter in 2025. 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 started dropping in 2025 and now is at 2.5%.

Line of business

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 first quarter. Most of the lines had a similar or lower price change compared with last quarter. The largest price increases continue to come from excess/umbrella liability. The commercial auto price increase has dropped below double digits for the first time since the third quarter of 2023. After having significant price increases during 2023, commercial property had its first price decrease during the second quarter of 2025 and continuing through the first quarter of 2026, following several quarters of progressively moderating price increases.

Account size price changes

When comparing account sizes, reported price increases for all sizes of accounts were slightly lower than the prior quarter. Specialty lines continued to have a small price increase as a result of the price increase in professional liability offsetting the price decrease in directors’ and officers’ liability.