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Large commercial buyers are testing pricing boundaries again, but the shift is uneven. Property capacity, casualty severity, and broker placement strategy are producing very different renewal outcomes across the same accounts. For carriers, the key question is where underwriting leverage is weakening fastest.
This week’s deep dive covers:
Large accounts are moving before the broader market
Property concessions are widening beyond rate
Selection discipline matters more than the headline rate
1. Large accounts are moving before the broader market
WTW's Q2 2026 Commercial Lines Insurance Pricing Survey showed U.S. commercial prices rising just 0.5%, down from 2.5% in Q1 and 3.8% a year earlier. Large commercial accounts recorded their first price decrease since 2017. Property posted the largest decline, while excess and umbrella liability saw the largest increases.
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