Marine aviation and energy risks face closer scrutiny.
Commercial insurance buyers continue to benefit from abundant capacity and strong competition, but geopolitical tensions, claims inflation and more detailed risk assessment are creating pressure in some parts of the market.
Aon’s Q2 2026 Global Insurance Market Insights report found that rate reductions, broader coverage and improved terms remain available across many major lines of business.
However, insurers are becoming more selective as they increasingly use data, analytics and artificial intelligence (AI) to assess risks and decide where to deploy capital.
Aon said high-quality risk information is becoming more important as insurers use AI and analytics to make more targeted underwriting decisions.
Whilst capacity and competition remain the main drivers of market conditions, the use of technology is allowing insurers to assess risks in greater detail.
Geopolitical tensions are also having a more direct impact on specialty insurance markets.
The ongoing conflict in the Middle East has led insurers to increase scrutiny of marine, aviation, terrorism, political violence, energy and trade-related risks.
“The most pronounced impacts are in Marine Hull & War, Marine P&I, Aviation, and Terrorism & Political Violence, where insurers are exercising greater underwriting discipline, repricing risk and placing increased emphasis on policy terms and conditions,” said Christian Hoffman, CEO of Global Commercial Risk Solutions at Aon.
Despite the tighter approach, capacity remains available for well-managed risks, Hoffman said.
The conflict is also creating wider risks for businesses through supply chain disruption, energy price volatility and concerns over contingent business interruption.
Claims inflation remains another key concern. Higher labour, transport and repair costs are increasing property claim values, whilst liability claims are being affected by rising legal, medical and settlement costs.
Aon said these pressures are particularly significant in commercial automobile and US casualty insurance, which remain exceptions to the otherwise favourable market conditions.
The report said the current market provides businesses with an opportunity to strengthen their insurance programmes and review risk transfer strategies before conditions become tighter.
