Willis Towers Watson Survey: Q4 Insurance Pricing Growth Eases to 2.9%
WTW's CLIPS survey shows US commercial insurance rates rose 2.9% in the fourth quarter of 2025, down from 3.8% in Q3 2025 and 5.6% in Q4 2024. Price growth slowed across most lines: commercial property decreased, general/products liability moderated and excess/umbrella liability remained the highest gainer.
1. Survey Overview
WTW's CLIPS survey covering data from 41 insurers representing about 20% of the US commercial insurance market found a 2.9% year-over-year rate increase in Q4 2025, down from 3.8% in the prior quarter and 5.6% in Q4 2024.
2. Line-by-Line Pricing Trends
Commercial property rates decreased further while general and products liability saw moderated increases; commercial multi-peril and business-owners policy posted smaller hikes, excess/umbrella liability maintained the highest gains and commercial auto continued robust growth.
3. Market Stabilization Outlook
Small and mid-market accounts recorded more modest rate rises and large account pricing growth slowed, reinforcing a trend toward a more stable pricing environment as carriers adopt a measured approach.