U.S. commercial insurance rates increased 2.9% in the fourth quarter of 2025, according to the latest WTW Commercial Lines Insurance Pricing Survey (CLIPS).

“Commercial insurance pricing continued to moderate in the fourth quarter, reflecting a more stable market,” said Yi Jing, senior director, Insurance Consulting and Technology (ICT), WTW. “While some lines continue to see increases, others are flattening or declining, highlighting a more measured approach across the market.”

Increases were 3.28% for Q3 and Q2 2025. Increases had been around 6% from the second half of 2023 through Q1 2025.

According to the survey, moderation was seen in most commercial lines during Q4 2025. Commercial property, which saw large increases during 2023 before seeing its first decrease during Q2 2025, recorded price decreases again in Q4.

Product liability continued to moderate, while commercial multi-peril and business-owners policy insurance saw smaller increases compared with Q3 2025.

Excess/umbrella liability remained the line with the largest price increases though lower than prior quarter. Commercial auto maintained a double-digit price increase.