U.S. commercial insurance rates continue to rise, moderating to 5.6% increase
WTW's Commercial Lines Insurance Pricing Survey (CLIPS) reveals U.S. commercial insurance rates continued their upward trend in Q4 2024, showing a 5.6% aggregate price increase, down from 6.1% in Q3 2024.
Key findings include:
- Excess/Umbrella Liability recorded its highest price increase in three years
- Commercial Auto saw its highest price increase in CLIPS history, maintaining double-digit growth
- Commercial Property experienced a significant slowdown, showing moderate price increases compared to the previous quarter
Mid-market and small accounts demonstrated moderating price increases, while large account pricing remained stable. The survey compares premiums for policies underwritten in Q4 2024 to those from Q4 2023, providing year-over-year insights into the commercial insurance landscape.
Il sondaggio sui prezzi delle assicurazioni commerciali di WTW (CLIPS) rivela che le tariffe delle assicurazioni commerciali negli Stati Uniti hanno continuato la loro tendenza al rialzo nel quarto trimestre del 2024, mostrando un aumento aggregato dei prezzi del 5,6%, in calo rispetto al 6,1% del terzo trimestre del 2024.
I risultati chiave includono:
- Responsabilità eccesso/ombrello ha registrato il suo più alto aumento di prezzo in tre anni
- Auto commerciale ha visto il suo più alto aumento di prezzo nella storia di CLIPS, mantenendo una crescita a doppia cifra
- Proprietà commerciale ha subito un significativo rallentamento, mostrando aumenti di prezzo moderati rispetto al trimestre precedente
I conti di medie dimensioni e piccoli hanno dimostrato un moderato aumento dei prezzi, mentre i prezzi per i grandi conti sono rimasti stabili. Il sondaggio confronta i premi per le polizze emesse nel quarto trimestre del 2024 con quelli del quarto trimestre del 2023, fornendo informazioni anno su anno sul panorama delle assicurazioni commerciali.
La Encuesta de Precios de Seguros de Líneas Comerciales de WTW (CLIPS) revela que las tarifas de seguros comerciales en EE. UU. continuaron su tendencia al alza en el cuarto trimestre de 2024, mostrando un aumento de precios agregado del 5,6%, en comparación con el 6,1% del tercer trimestre de 2024.
Los hallazgos clave incluyen:
- Responsabilidad Excesiva / Umbrella registró su mayor aumento de precio en tres años
- Auto Comercial alcanzó su mayor aumento de precio en la historia de CLIPS, manteniendo un crecimiento de dos dígitos
- Propiedad Comercial experimentó una desaceleración significativa, mostrando aumentos de precios moderados en comparación con el trimestre anterior
Las cuentas de mercado medio y pequeñas mostraron aumentos de precios moderados, mientras que los precios de las grandes cuentas se mantuvieron estables. La encuesta compara las primas de las pólizas suscritas en el cuarto trimestre de 2024 con las del cuarto trimestre de 2023, proporcionando información interanual sobre el panorama del seguro comercial.
WTW의 상업 보험 가격 조사(CLIPS)는 2024년 4분기 미국 상업 보험 요율이 계속해서 상승세를 보이고 있으며, 5.6%의 총 가격 상승을 기록했다고 밝혔습니다. 이는 2024년 3분기의 6.1%에서 감소한 수치입니다.
주요 결과는 다음과 같습니다:
- 초과/우산 책임보험은 3년 만에 가장 높은 가격 상승률을 기록했습니다.
- 상업용 자동차는 CLIPS 역사상 가장 높은 가격 상승률을 보였으며, 두 자릿수 성장을 유지했습니다.
- 상업용 재산은 이전 분기와 비교하여 온건한 가격 상승을 보이며 상당한 둔화를 경험했습니다.
중소형 계좌는 가격 상승이 완화되었고, 대형 계좌의 가격은 안정적으로 유지되었습니다. 이 조사는 2024년 4분기에 인수된 보험료를 2023년 4분기와 비교하여 상업 보험 시장에 대한 연간 통찰력을 제공합니다.
Le sondage sur les prix des assurances commerciales de WTW (CLIPS) révèle que les tarifs d'assurance commerciale aux États-Unis ont poursuivi leur tendance à la hausse au quatrième trimestre 2024, affichant une augmentation de prix agrégée de 5,6%, en baisse par rapport à 6,1% au troisième trimestre 2024.
Les résultats clés incluent:
- Responsabilité excédentaire/umbrella a enregistré sa plus forte augmentation de prix en trois ans
- Auto commercial a connu sa plus forte augmentation de prix dans l'histoire de CLIPS, maintenant une croissance à deux chiffres
- Propriété commerciale a connu un ralentissement significatif, affichant des augmentations de prix modérées par rapport au trimestre précédent
Les comptes de taille moyenne et petits ont montré des augmentations de prix modérées, tandis que les prix des grands comptes sont restés stables. L'enquête compare les primes des polices souscrites au quatrième trimestre 2024 avec celles du quatrième trimestre 2023, fournissant des informations d'une année sur l'autre sur le paysage de l'assurance commerciale.
Die Preisumfrage für gewerbliche Versicherungen von WTW (CLIPS) zeigt, dass die gewerblichen Versicherungsprämien in den USA im vierten Quartal 2024 weiterhin einen Aufwärtstrend verzeichneten, mit einem gesamtpreislichen Anstieg von 5,6%, was einen Rückgang von 6,1% im dritten Quartal 2024 darstellt.
Wichtige Ergebnisse sind:
- Über-/Umbrella-Haftpflicht verzeichnete den höchsten Preisanstieg seit drei Jahren
- Gewerbliche Autos erlebten den höchsten Preisanstieg in der Geschichte von CLIPS und wiesen ein zweistelliges Wachstum auf
- Gewerbliche Immobilien erlebten eine signifikante Verlangsamung mit moderaten Preissteigerungen im Vergleich zum Vorquartal
Der Mittelstand und kleine Konten zeigten moderate Preissteigerungen, während die Preise für große Konten stabil blieben. Die Umfrage vergleicht die Prämien für Policen, die im vierten Quartal 2024 gezeichnet wurden, mit denen aus dem vierten Quartal 2023 und bietet Einblicke in die gewerbliche Versicherungslandschaft im Jahresvergleich.
- Continued overall price increases of 5.6% maintain revenue growth
- Record-high price increases in Commercial Auto segment
- Highest three-year price increases in Excess/Umbrella Liability
- Slowdown in overall price increase rate from 6.1% to 5.6% quarter-over-quarter
- Significant moderation in Commercial Property price increases
- Declining price increases in mid-market and small accounts
Insights
WTW's latest Commercial Lines Insurance Pricing Survey reveals a moderating but still positive pricing environment that supports broker revenues. The
Two segments stand out as particularly strong: Commercial Auto achieved its highest price increase in CLIPS history with double-digit growth, while Excess/Umbrella Liability recorded its highest increase in three years. These lines represent significant premium volume and commission opportunities for WTW's brokerage operations.
The moderation in Commercial Property pricing is noteworthy after several years of substantial increases following catastrophic loss events. This suggests the property market may be approaching equilibrium after an extended correction period.
For WTW specifically, these trends support stable to growing organic revenue in their brokerage segments. The company benefits from both the continued rate increases and the complex market conditions that drive clients to seek expert advisory services. The differentiated performance across various coverage lines and account sizes creates cross-selling opportunities as clients navigate this segmented pricing environment.
This data further strengthens WTW's position as a market intelligence leader, enhancing their consulting value proposition during a transitional insurance market phase.
Commercial Lines Insurance Pricing Survey: Q4 2024
NEW YORK, March 10, 2025 (GLOBE NEWSWIRE) -- U.S. commercial insurance rates showed a continued upward trend with signs of moderation in the fourth quarter of 2024, according to the latest findings from WTW's Commercial Lines Insurance Pricing Survey (CLIPS). The survey compares premiums for policies underwritten during the fourth quarter of 2024 to those for the same coverage in the respective quarter of 2023, providing a year-over-year perspective. Carriers reported an aggregate price increase of
While overall rates showed a moderate slowdown, significant changes were observed in specific coverage lines. Excess/Umbrella Liability recorded its highest price increase in the past three years, while Commercial Auto recorded its highest price increase in the entire history of CLIPS, continuing to rise in double digits. Commercial Property experienced the most notable shift this quarter, though a moderate price increase, significantly lower than prior quarter. Rate increases for mid-market accounts continued to moderate, extending the trend from the previous quarter. Small accounts also saw lower price increases compared to the prior quarter, while price increases for large accounts remained virtually unchanged.
Yi Jing, Senior Director, Insurance Consulting and Technology (ICT) at WTW, commented, "The fourth-quarter data shows a continued upward trend in overall pricing, with signs of moderation compared to prior quarters. Lines such as Commercial Auto and Excess/Umbrella Liability continue to see notable price increases, while the Commercial Property market experienced a significant slowdown in pricing adjustments. These trends underscore key shifts within the commercial insurance landscape."
CLIPS is a retrospective look at historical changes in Commercial Property & Casualty insurance (P&C) prices and claims cost inflation. A forward-looking analysis of Commercial P&C trends, outlook, and rate predictions can be found in WTW’s Insurance Marketplace Realities series.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
About Insurance Consulting & Technology (ICT)
WTW’s Insurance Consulting & Technology business serves the insurance industry with a powerful combination of advisory services and leading-edge technology. Our mission is to innovate and transform insurance, and we deliver solutions that help clients better select, finance, and manage risk and capital.
We work with clients of all sizes globally, including most of the world’s leading insurance groups. Over 1,000 client companies use our specialist insurance software on six continents. With over 1,700 colleagues in 35 markets, we continually strive to be a partner and employer of choice to the insurance industry.
About CLIPS
CLIPS data are based on both new and renewal business figures obtained directly from carriers underwriting the business. CLIPS participants represent a cross-section of U.S. P&C insurers that includes many of the top 10 commercial lines companies and the top 25 insurance groups in the U.S. This survey compared prices charged on policies written during the fourth quarter of 2024 with the prices charged for the same coverage during the same quarter of 2023. For this most recent survey, 41 participating insurers representing approximately
Media Contact
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FAQ
What was the U.S. commercial insurance rate increase in Q4 2024 according to WTW's CLIPS report?
How did Commercial Auto insurance rates perform in WTW's Q4 2024 survey?
What trends did WTW observe in Commercial Property insurance rates for Q4 2024?
How did insurance rates vary by account size in WTW's Q4 2024 report?
What happened with Excess/Umbrella Liability rates in WTW's Q4 2024 survey?
