Article ID: 36b486ea5733f1578d9bcfbdad08b6e7d4150c35795626bf68574756277c522d
Source ID: secondary:businessinsurance.com
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URL: https://www.businessinsurance.com/property-insurance-market-to-remain-competitive/
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Property insurance market to remain competitive - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Property insurance market to remain competitive by Gavin Souter Auto liability , Catastrophes , Cyber Risks , Emerging Risks , Excess and Surplus Lines , General liability , P/C Insurers , Property , Technology Jul 9, 2026 Commercial property insurance buyers are expected to benefit from a more competitive market through the rest of 2026, according to a report released Thursday by brokerage Alera Group. But commercial auto and excess liability remain the industry’s toughest lines as “social inflation” — higher court awards and settlements — continues to drive losses, the report said. Overall commercial property/casualty premium growth averaged just 0.2% in the first half of 2026, the lowest level since 2017. Strong insurer balance sheets and record capital levels are fueling increased competition for business, the brokerage said. Commercial property insurance rates are projected to decline by 4% on average for the rest of 2026. Buyers with favorable risk profiles outside catastrophe-prone areas are expected to receive the strongest pricing, while wildfire-exposed and other catastrophe risks will continue to face tighter underwriting, Alera said. Conditions for general liability are also improving, with average rate increases projected at 4%. Lower-hazard businesses could see flat or declining rates, while higher-risk industries, such as hospitality, heavy construction, and industrial manufacturing, are expected to face increases of 5% to 15%. Insurers are also tightening policy language, including adding generative artificial intelligence exclusions and reducing sublimits for some exposures, the report said. Commercial auto remains one of the most challenging lines, with average rate increases of 8% to 15% expected through the rest of the year, following 14 consecutive years of underwriting losses. Alera cited larger jury awards, third-party litigation funding, plaintiff-attorney advertising, and rising repair costs as key drivers. Umbrella and excess liability remain difficult, with average rate increases of 8% to 15%. Insurers are reducing the limits they offer on a single policy, making layered programs more common among buyers seeking higher limits. Cyber liability pricing has largely stabilized, with most renewals expected to be within a 5% range, either up or down. Competition remains strong, although health care, manufacturing, education, and other higher-risk sectors continue to face stricter underwriting. Directors and officers liability remains competitive, with flat to modest rate reductions expected, Alera said. 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