US Commercial Insurance Premiums Fall for First Time in Nine Years
US commercial property and casualty insurance premiums fell 1.2 percent in the first quarter of 2026, marking the first decline in nine years. This ends a 33-quarter streak of continuous increases that began after the third quarter of 2017.
The drop signals a shift after years of hardening market conditions driven by inflation, catastrophe losses, and rising claims costs. Commercial property lines led the softening with stronger rate reductions fueled by greater carrier capacity and competition, while some casualty lines continued to face upward pressure from litigation trends and social inflation.
Even with this quarterly reversal, overall US property and casualty net premiums written have climbed substantially. They rose from roughly 560 billion dollars in 2017 to nearly 980 billion dollars, an increase of about 74 percent.
Insurance costs therefore remain a significant ongoing expense for American businesses despite the recent easing in prices.
