FOR IMMEDIATE RELEASE
Soft Market Took Shape in Q2 2026, According to The Council’s P&C Market Survey
WASHINGTON, D.C. – The Council of Insurance Agents & Brokers has released the results of its Commercial P/C Market Survey for the second quarter of 2016. Rates once again decreased across all size accounts, by an average of -3.9 percent. Rates were down slightly more than the average from Q1, which was a -3.7 percent.
“These results confirm everything we’ve heard from our members anecdotally this year,” said Ken A. Crerar, president/CEO of The Council. “Carriers are aggressively pricing new business while attempting to hold rates steady on renewals. It’s a buyers’ market.”
Large accounts again experienced the largest rate decrease at an average of -5.3 percent, followed by medium-sized accounts at -4.2 percent, and small accounts at -2.1 percent. One Midwest broker described carrier underwriting practices in Q2 by saying they are “Pricing to win. Many carriers offered reduced pricing to keep accounts out of market driven by concern that pushing the account out to market will likely result in the need to drop price considerably more in order to hold [the] business.”
P&C Market Survey Contact:
Zach West
Senior Content Specialist/Copy Chief, Leader’s Edge
