When you run a business, every fixed cost weighs heavily and insurance often ends up among the expenses that are renewed without having time to question everything. This time, however, stopping to compare the conditions could make the difference.
In the third quarter of 2026, corporate insurance rates decreased on average by 5% worldwide and by 6% in Europe. This is noted by the Global Insurance Market Index by Marsh. Globally, it is the ninth consecutive quarter of declines.
For Italian companies it is a signal to consider in view of the renewal. It doesn’t mean that every policy will cost less, but that the market may offer more opportunities to negotiate.
Because rates are falling even if the risks remain
The apparent contradiction is this: Companies continue to grapple with international uncertainty, natural events and cyber threats, while the price of many hedges declines.
The explanation is, above all, financial. According to Marsh, insurers have abundant capital and benefit from good profitability, higher investment returns and lower costs of reinsurance, i.e. the protection they purchase to transfer part of the risks assumed.
These conditions fuel competition. To retain customers or acquire new ones, companies can offer more competitive rates. The drop in prices therefore does not certify a reduction in dangers, but a more favorable market for those who purchase coverage. Some renewals also allowed for higher limits and lower deductibles during the quarter.
Where the declines are concentrated in Europe
The average figure hides important differences. In the European market, the most marked reductions concern property insurance and insurance against IT risks.
| Compartment | Tariff changes in Europe, third quarter 2026 |
|---|---|
| Overall index | −6% |
| Damage to property, branch property | −9% |
| Civil liability, branch casualty | −3% |
| Financial and professional risks | −4% |
| IT risks, branch cyber | −9% |
Source: Marsh. Changes detected at renewals; the index reflects the composition of the group’s customer portfolio. The percentages do not add up.
Behind these categories there are daily needs: protecting machinery and warehouses, dealing with a compensation request, supporting the consequences of a digital accident. Cyber risk insurance responds to exposures that are different from professional liability, which protects against the economic consequences of errors made in the business.
What changes for Italian companies
The first element to clarify is that the report does not certify a 6% discount for every Italian company. It is a European survey of rates, not a measure of the insurance spending of all companies.
The distinction between tariff and premium is decisive. The rate expresses the price applied to the risk. The overall premium also depends on the insured goods, guarantees and contractual conditions.
A company that purchases new equipment or increases inventory may, therefore, pay more than the previous year even with a declining tariff. Likewise, expanding protection can absorb the benefit of the downside.
Marsh also reports that catastrophe exposure and quality of documentation continue to influence European offerings. The result of the renewal also depends on how the individual activity is evaluated.
How much is the savings worth?
An example allows us to give concreteness to the percentages. On a premium of 10,000 euros, excluding taxes and other charges, an effective reduction of 6% would bring the amount to 9,400 euros, with a saving of 600 euros.
It is an illustrative calculation, not a quote: it assumes that insured assets, risks, guarantees and conditions remain identical. It does not consider tax effects.
For a company it would be a lower cash outflow, but if the lower price resulted in a higher deductible, part of the benefit would correspond to a greater risk left on its shoulders. The comparison must, therefore, include limits, exclusions and the share of the damage payable.
Business interruption also deserves attention: a policy can protect a machine without covering all the economic losses linked to the downtime. Permitted causes, duration of the guarantee and any waiting periods change the actual value of the protection.
Renewal becomes a budgetary decision
For those who have to make ends meet, saving on premiums can free up liquidity. Maintaining the same expense while obtaining better coverage can, however, reduce the economic burden of an unexpected event.
The Marsh report offers a reference to reopen this comparison. The useful question, at renewal, is how much the cost changes for the same protection. Because the savings that count are those that lighten the balance sheet without leaving the company more exposed just when it needs support.
