Business Wire·Oct 29, 2026, 10:00 AM ET

The Baldwin Group Q3 2026 Market Pulse: Property Softening Levels Off as Casualty Lines Diverge and Excess Pricing Holds Firm

The Baldwin Group released its Q3 2026 Market Pulse report analyzing commercial insurance pricing trends as of September 30, 2026.
Commercial property pricing declined 8.0% in Q3 2026, marking the sixth consecutive quarter of decreases with a rate similar to Q2's 8.1% drop.
Commercial auto pricing increased 2.9% in Q3, the lowest quarterly reading since the index began in Q3 2021.
General liability pricing rose 3.5%, continuing a third consecutive pullback from a peak of 9.3% in Q4 2025.
Umbrella pricing increased 5.6% in Q3, reflecting firm excess pricing despite easing primary lines.
Workers' compensation pricing declined 0.1% in Q3, suggesting favorable pricing has reached or is near its floor.
Private management liability pricing increased 3.1%, while public directors and officers pricing declined 1.8%.
Cyber pricing rose 2.0% in Q3, the highest level recorded since early 2023.
Outlook indicates continued property softening into Q4, with opportunities for clients holding strong loss control documentation.
Casualty markets are expected to show divergent outcomes, with clean accounts seeing competition while high-hazard risks face little relief.
Meaningful tort reform impact on pricing is unlikely before 2027, with January 1 casualty reinsurance renewals serving as a key market signal.
Social inflation, litigation funding, 核 verdicts, emerging liabilities, 及 micro-segmentation are driving different renewal outcomes across casualty lines.