P-C Market Continues to Soften, Says CIAB

The property-casualty market moved further toward the soft part of the insurance market cycle in Q4 2025, according to The Council of Insurance Agents & Brokers. A recent survey revealed that premiums across all account sizes rose by an average of 0.2%, down from 1.6% in Q3. 

Large account premiums fell by an average of 2.1%, with medium account premiums showing no change at all, marking the softest market conditions since 2017.

Soft market conditions were even clearer when looking at lines of business. Premiums for nine lines of business experienced decreases: business interruption, commercial property, construction, cyber, directors and officers liability (D&O), employment practices, surety bonds, terrorism and workers compensation. 

Cyber premiums dropped by more than three percent, which set the fifth record decrease for the line since Q2 2024. 

D&O premiums fell by an average of 3.8%, the largest decrease out of all lines. Survey respondents and industry sources like AM Best attributed D&O decreases to abundant capacity and a very favorable loss ratio in 2024.