The U.S. commercial property and casualty insurance market moved further into soft-market territory during the second quarter of 2026, with average premiums declining across every account category, according to the latest survey from The Council of Insurance Agents & Brokers (CIAB).
Surveyed brokers reported an overall 2.0% reduction in premiums during Q2. Large accounts recorded the sharpest decline at 3.7%, compared with a 2.7% fall in the previous quarter. Pricing for medium-sized accounts dropped 1.9%, while small accounts posted a more modest 0.5% decrease.
Pricing weakened across 10 lines of business, including commercial property, business interruption, construction risks, cyber, directors and officers, employment practices, flood, marine, terrorism and workers compensation.
Commercial property experienced the largest decline, with premiums falling an average 6.3% for the second consecutive quarter. Cyber and workers compensation each declined 3.2%. Cyber has now recorded nine straight quarters of falling premiums, while workers compensation has posted decreases for 18 consecutive quarters.
The market remained uneven, however. Umbrella premiums increased 5.3%, marking the line’s 35th consecutive quarterly increase. Commercial auto followed with a 4.5% rise. Nuclear verdicts associated with commercial auto claims continued to pressure umbrella coverage, with 40% of respondents reporting reduced capacity.
Meanwhile, 75% of respondents reported greater property capacity, adding competitive pressure to pricing. Brokers said the improved conditions produced larger reductions at renewal, particularly for major property accounts, while buyers also gained higher sublimits and lower deductibles for exposures such as wind and hail.
The image is an illustration created with AI for general context.
Source: The Council of Insurance Agents & Brokers.
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