WTW Survey Finds Commercial Insurance Price Increases Moderating

US commercial insurance rates increased 3.8 percent in the second quarter of this year, continuing a trend from the prior two quarters of slowing rate increases, according to Willis Towers Watson's (WTW's) second quarter Commercial Lines Insurance Pricing Survey (CLIPS).

WTW's CLIPS found US commercial insurance rates increased 5.3 percent during this year's first 3 months and 5.6 percent over the fourth quarter of 2024. Insurers had reported a 5.9 percent rate increase during last year's second quarter, according to WTW.

WTW found commercial insurance price growth moderated across most lines during this year's second quarter, with workers compensation, directors and officers liability, and cyber insurance continuing to experience price decreases. Also during the second quarter, commercial property insurance posted its first price decrease after several quarters of slowing price growth, CLIPS found.

Excess/umbrella liability insurance recorded the largest price increases during the second quarter, WTW found, while commercial auto insurance continued to see double-digit growth. Small and mid-market accounts experienced slightly lower increases during the second quarter, CLIPS found, while large accounts continued to see price increases, though 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," Yi Jing, senior director of insurance consulting and technology (ICT) at WTW, said in a statement. "While some lines continued to see increases, others remained stable or slightly declined, reflecting a period of more measured rate growth across the market."

WTW's CLIPS data are based on both new and renewal business figures obtained directly from insurers underwriting the business, representing a cross-section of US property-casualty insurers. The most recent 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.