Property renewal rates continued to fall in the third quarter of 2026, but the pace of reductions eased, CRC Group’s Property REDY Index showed. The wholesale specialty insurance distributor said competition remained strong, with approximately 91% to 93% of its property accounts renewing at flat or lower rates during the quarter.
Key Takeaways
- Year-over-year rate reductions narrowed in each month of the third quarter.
- Declines remained larger than those recorded in the same months of 2025.
- Ample insurance and reinsurance capacity supported negotiations over pricing and coverage terms.
Table of Contents
- Property renewal rates decline at a slower pace
- Capacity gives buyers room to negotiate
- Buyer-friendly outlook remains conditional
- Conclusion
Property renewal rates decline at a slower pace
CRC’s monthly figures show a gradual easing in rate reductions from May through September 2026. That moderation did not amount to a return to rising prices: average renewal rates were still falling by double-digit percentages throughout the third quarter.
The year-earlier comparison also remained favorable for buyers. Reductions in July, August and September 2026 were each larger than in the corresponding months of 2025. The distinction matters: pricing was becoming more competitive year over year, even as the pace of that improvement slowed.
| Item | Details |
|---|---|
| May 2026 | Average year-over-year renewal pricing declined 13.3%. |
| June 2026 | Average year-over-year renewal pricing declined 12.8%. |
| July comparison | Decline of 12.0% in 2026 versus 6.0% in 2025. |
| August comparison | Decline of 11.4% in 2026 versus 5.2% in 2025. |
| September comparison | Decline of 11.1% in 2026 versus 7.0% in 2025. |
Capacity gives buyers room to negotiate
CRC attributed the competitive conditions to abundant insurance and reinsurance capacity. Carriers remained focused on retaining profitable accounts and attracting new business, giving insureds opportunities to negotiate increased limits, lower deductibles and broader coverage as well as reduced rates.
Accounts receiving rate increases of 10% or more represented less than 2% of the total during the quarter. Competition was particularly strong for well-performing accounts with favorable loss histories and high-quality underwriting information, CRC said.
CRC’s REDY data and analytics platform provides background on how the firm uses historical placement, coverage and pricing information to support negotiations. That product description explains the platform’s role, rather than independently establishing the quarter’s reported rate changes.
Buyer-friendly outlook remains conditional
CRC expects the property insurance market to remain favorable for buyers, with ample capacity continuing to support competitive pricing. It nevertheless said underwriting discipline would influence outcomes for individual accounts.
The company suggested that the moderation in reductions could signal a stabilizing pace of market softening heading into 2027. That is an outlook, not evidence that rates have reached a floor or that all policyholders will obtain similar renewal terms.
Conclusion
Property renewal rates remained favorable for buyers in Q3 2026 despite smaller reductions. Subsequent renewal figures will be the measure to watch for whether that moderation continues toward 2027.
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