The property insurance market for 2026 will remain highly competitive, with ample capacity from carriers and MGAs. Renewal discussions should focus on terms and conditions, carrier stability and ratings, insurance to value (ITV) and geographic risk exposures, especially in CAT-prone areas.

The casualty insurance market remains robust with strong new business growth, though there was a slight slowdown in the latter half of the year. Tort reform across states in the Southeast aims to reduce frivolous litigation and stabilize markets, though long-term effects remain to be seen. 

The professional lines market is competitive with an overall increase in policy counts. Carriers emphasize broad coverage, ease of doing business, strong relationships, prompt risk quoting and claims experience as key factors for market growth and client retention.

Our in-house data scientists work in partnership with our business leaders to tackle complex, firm-wide opportunities that redefine how we approach wholesale broking and underwriting – operationalizing AI so we can work smarter, not harder, and deliver more value to our clients. 

Overall, the outlook for 2026 is one of cautious optimism. Inflation is moving in the right direction, labor markets remain on a relatively positive footing and gradual Fed interest rate cuts could support some improvements in sentiment.

The reinsurance market is navigating a period of adjustment following several years of volatility. While competition has intensified amid abundant capacity, the market appears to be finding its footing, with signs that recent rate decreases may begin to level off as renewal season approaches. 

The builder’s risk market is seeing increased competition, causing widespread rate softening. Carriers remain selective, however, favoring high-quality risks, reducing excess limits and cautiously expanding coverage despite thinner margins and longer timelines. 

Rates are broadly softening across downstream property and professional lines, while casualty markets continue to wrestle with social inflation, nuclear verdicts and rising loss severity. Early 2025 began with notable losses, which temporarily slowed the pace of softening but did not reverse it.

The market is active and competitive, influenced by evolving regulatory risks (such as PFAS and ethylene oxide) and economic factors. Capacity is tightening, especially in excess liability coverage. Coverage limitations and emerging risks require careful management.

The market continues to shift, with capacity, pricing and coverage terms evolving across multiple sectors. New entrants and surplus lines carriers provide additional options in certain areas while claims severity, social inflation and regulatory pressures create challenges.

The hospitality insurance market shows a soft property market with increased capacity and moderate rate decreases. Casualty markets remain cautious due to social inflation and litigation trends. Underwriting varies by line: property carriers are loosening guidelines and casualty carriers imposing common exclusions in high-risk areas. 

The property sector is experiencing increased capacity and competition, especially in middle-market segments where we are seeing more aggressive pricing and broader terms. Casualty underwriting remains disciplined, particularly for high-severity exposures like law enforcement and sexual abuse claims. 

The real estate casualty market faces challenges from rising litigation costs, increasing claims going to trial and social inflation. Regional differences persist despite technology, especially AI, improving underwriting efficiency. 

The transportation insurance market faces significant challenges. Commercial auto insurance is encountering rate increases driven by social inflation, litigation and costly claims, with fewer new market entrants limiting capacity. Business auto is coping with non-renewals and higher premiums. 

Explore trends in the following markets: Agriculture, Cannabis, Crypto, Cyber, Habitational, Manufacturing, Marine/Inland Marine, SAM, and Wildfire. 

The MGA marketplace again outpaced overall property and casualty market growth in 2025. However, what began as a period of accelerated growth several years ago has now matured into a more stable, data-driven marketplace defined by specialization and scale. 

The claims landscape continues to shape how carriers deploy capacity and price risk. Inflationary pressures (both social and legal) are driving upward momentum in settlement values and loss costs, creating ripple effects across the industry.

Carriers are applying 10% to 12% medical cost trend in formula renewals, with pricing models baking in buffers to offset volatility and high-cost claims. Prescription drugs are driving the highest estimated rate of increase for health benefit plan cost trends at 11%.