WTW CLIPS reveals US rates are down in Q2’24, increasing to only 5.9%
- September 2, 2025
- Posted by: Saumya Jain
- Category: Insurance
According to a new WTW Commercial Lines Insurance Pricing Survey (CLIPS), US commercial insurance rates grew at a rate of 5.9% throughout the second quarter of 2024, down from 6.1% in Q2 2023.
The rates for the same segment were reported at 6.3 % in Q1 2024, the survey suggests the overall decline in commercial insurance price increase was largely driven by a significant reduction in price increase from the prior quarter in commercial property.
WTW affirms growth in commercial property prices has markedly slowed compared to Q1 2024, suggesting that the sector has reached its peak and is beginning to stabilize.
This decline in commercial property pricing has significantly influenced the current market trend, leading to a slower rate of increase across the broader commercial insurance market, when compared to Q1 2024.
Notable adjustments in the overall segment pricing are particularly noted in the Large Account Commercial segment, while other market segments have remained relatively stable overall.
Additionally, other commercial lines, including workers’ compensation, directors and officers, and cyber insurance, continued to exhibit consistent pricing patterns as observed in prior quarters.
On the other hand, WTW revealed commercial auto and excess umbrella lines are facing sustained upward pressure due to high loss cost trends.
Yi Jing, Senior Director, Insurance Consulting and Technology (ICT) at WTW, commented, “The decline in Commercial Property prices this quarter underscores a notable change in market conditions.
“Although some sectors, such as Commercial Auto and Excess Umbrella, continue to face upward pressure, many other lines are demonstrating stability. These results highlight the shifting dynamics within the commercial insurance market.”
CLIPS is a retrospective look at historical changes in commercial property & casualty insurance (P&C) prices and claims cost inflation.
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