The following are a few key takeaways from The Council of Insurance Agents & Brokers’ Q1 2025 Commercial Property/Casualty Market Report:
- Premiums across all account sizes rose by an average of 4.2% in Q1 2025, a 22% decrease from the 5.4% reported by respondents in Q4 2024. This marks the 30th consecutive quarter of increases for all account sizes.
- Increases for medium accounts slowed the most out of all account sizes, coming in at an average of 3.6% for Q1 2025. This was a 42% decrease from Q4’s average increase of 6.4%. Respondents pointed to more competition and flexibility from underwriters, with one respondent from a large Northwestern firm summarizing it as “carriers were starting to re-engage in the middle market.”
- Softened market conditions were also present in the lines of business. With the exception of commercial auto and umbrella, all lines of business showed lower premium increases in Q1 2025 than in Q4 2024. Five lines recorded decreases in premiums—cyber, D&O, employment practices, terrorism, and workers compensation. More carrier competition was also seen in D&O, along with a “continued influx in capacity,” according to a May 2025 state of the D&O market report.
