Here are the key takeaways from The Council of Insurance Agents & Brokers’ Commercial P&C Market Index for Q1 2026:
- The soft market was clear in Q1 2026. Respondents reported average decreases in premiums across all account sizes for the first time since Q3 2017. Premiums fell by an average of 1.2%.
- The average increase in premiums across all the major lines of business (commercial auto, commercial property, general liability, umbrella, and workers compensation) was just 0.8%, down from 1.9% in Q4 2025. Across all lines, that average increase turned into a drop of 0.3%.
- Commercial property premiums posted the largest average decrease in premiums out of all lines, 5.5%, with workers compensation falling by 3.7% and cyber down 3.5%. Balancing out the decreases in the major lines were umbrella and commercial auto, where premiums increased by 4.8% and 5.8%, respectively. Umbrella’s premium growth was nearly identical to its Q4 2025 figure while commercial auto fell from a 6.6% average premium increase in the preceding three-month period.
- Respondents attributed property’s decrease to more aggressive competition between carriers for both new and old business; in line with that, 72% of respondents observed an increase in property underwriting capacity, with some respondents noting a “significant” increase.
- High claim frequency and severity were a drag on commercial auto stability in Q1 2026. Respondents said premiums for the line rose by an average of 5.8%, the highest out of all lines of business and the 59th consecutive quarter of increases.
