US Commercial Insurance Rates Rise Moderately with Stabilization Signs in Q3 2025

WTW's latest Commercial Lines Insurance Pricing Survey (CLIPS) reports a 3.8% increase in U.S. commercial insurance rates for Q3 2025, marking a continuation of the easing trend from earlier quarters. This follows identical 3.8% growth in Q2 and a higher 5.3% rate rise in Q1 of 2025, with overall rate increases notably slower than the 6.1% recorded in Q3 2024. The rate moderation signals a more stabilized commercial insurance market across various coverage lines. Price growth slowed across most commercial insurance categories during Q3 2025, including workers compensation, directors’ and officers’ liability, cyber, and commercial property policies, most of which saw declines in their rate increases. Excess and umbrella liability insurance continued to post the largest rate hikes but with moderated growth compared to previous quarters. Commercial auto insurance experienced sustained double-digit rate increases, maintaining its status as one of the fastest-growing segments in the commercial insurance sector. In contrast, smaller and mid-sized accounts saw more moderate premium increases, while large accounts experienced rising rates at a slower pace, reflecting differentiated pricing dynamics within the market. These trends highlight a period of more measured pricing in the U.S. commercial insurance market, with overall stability emerging after prior years of significant rate volatility. Industry observers and stakeholders may consider these developments indicative of a market adjusting to evolving loss trends, underwriting strategies, and competitive pressures. WTW's insights underscore ongoing adjustments within commercial lines pricing, shaped by claims experience, regulatory environment, and broader economic factors influencing risk appetite and insurer capacity. The data provides valuable guidance for brokers, underwriters, and risk managers as they navigate a complex commercial insurance landscape moving into 2026.