The Baldwin Group Q3 2026 Market Pulse: Property Softening Levels Off as Casualty Lines Diverge and Excess Pricing Holds Firm
Business Wire•29/10/2026•10:00 ET
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Key Highlights
- ➤Property pricing declined 8.0%, essentially matching Q2’s 8.1% decline
- ➤Commercial auto pricing rose 2.9%, the lowest quarterly reading since Q3 2021
- ➤Umbrella pricing increased 5.6%, as excess pricing held firm
- ➤Workers’ compensation pricing declined 0.1%, effectively reaching its floor
- ➤Cyber pricing increased 2.0%, its highest reading since early 2023
Expert Statements
Leslie Nylund, National Managing Director of Broking and Insurance Company Partnerships at The Baldwin Group
“Property is no longer getting softer faster, but it is still delivering real opportunity for buyers who come to renewal with current valuations and strong loss control documentation.”
Leslie Nylund, National Managing Director of Broking and Insurance Company Partnerships at The Baldwin Group
“The mistake would be to apply that same optimism to casualty, where the drivers of loss severity have not changed and excess pricing is holding firm. Our clients benefit most when we look at each line on its own terms.”
Leslie Nylund, National Managing Director of Broking and Insurance Company Partnerships at The Baldwin Group
“Casualty is on a fundamentally different trajectory than property. Social inflation, litigation funding, nuclear verdicts and emerging liabilities are making traditional underwriting assumptions less reliable. The result is a market defined by micro-segmentation, where coverage breadth, jurisdiction, industry exposure and loss history drive very different renewal outcomes.”
The Baldwin Group Q3 2026 Market Pulse: Property Softening Levels Off as Casualty Lines Diverge and Excess Pricing Holds Firm
Resilient, well-documented accounts continue to convert savings into broader coverage as insurers stay disciplined on CAT exposure and valuations
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