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Commercial insurance pricing stays competitive as insurers tighten risk selection
Aon said property, casualty, and cyber remained buyer-friendly, while automobile and US casualty faced tougher conditions amid claims inflation.
Aon released its Q2 2026 Global Insurance Market Overview, describing continued buyer-favourable conditions for commercial insurance, supported by strong insurer capacity, competition, and high industry capital levels. The firm said many businesses saw competitive pricing, broader coverage options, and favourable renewal terms during the quarter.
The report also said insurers are becoming more selective as they assess complex exposures, with accurate risk information and clear submissions increasingly important to win better underwriting outcomes. Aon highlighted that technology and improved risk data are playing a bigger role in underwriting decisions, even as AI has not yet become a major pricing driver.
Aon found that most major insurance markets remained buyer-friendly, with property, casualty and cyber benefiting from capacity and competitive conditions. It added that financial lines were favourable in many regions, though there were signs of moderation, and it pointed to more challenging conditions in automobile and US casualty.
On specialist lines, Aon said geopolitical uncertainty, particularly developments in the Middle East, is increasing underwriting scrutiny for marine hull and war, marine P and I, aviation, and terrorism and political violence-related risks. The company said insurers are repricing risk and placing greater emphasis on policy terms and conditions, while still keeping capacity available for well-managed risks, and it noted insurers are using artificial intelligence and advanced analytics to support underwriting and risk assessment.