In recent weeks, executives of brokers and carriers have been delivering mixed messages about conditions in the commercial insurance market. “The long curve, the larger trend, is bending in a positive direction for buyers.” John Drummond, head of Broking, North …
Despite a range of disruptions, global commercial P/C insurance carriers have actually delivered good returns over the last few years—mostly thanks to higher premiums, which have risen 6 to 8 percent a year since 2018. But that cannot go on …
With last year’s 25% rate hikes for public directors and officers liability insurance dropping to 2.5%, and 150% hikes for cyber cover sinking to 25%, significant softening is forecast for some casualty lines in 2023. Those reduced price hikes are …
Hurricane Ian is going to affect commercial and personal property rates “significantly” – not just in Florida, predicted MarketScout. The Dallas-based insurance distribution and underwriting company released its quarterly Market Barometer of rate conditions in personal and commercial insurance lines. …
Google Cloud and The Travelers Companies said they are working together to create a cloud-based data ecosystem that will help Travelers’ underwriters more efficiently evaluate risks for large and middle market businesses The data ecosystem, built on Google Cloud, will …
A toxic combination of business disruption and economic uncertainty strained the relationship between small businesses and their commercial line insurers during the pandemic, causing customer satisfaction to decline beginning in 2020 for the first time in seven years. According to …
The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto line. Loss pressures and a hard P/C market are expected …
The second quarter 2022 marked a full five years of premium increases for across all lines of commercial insurance business, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The average premium increase across all …
The South Carolina Supreme Court on August 10 became the fourth state high court in the nation to rule that the virus that causes COVID-19 cannot cause a direct physical damage or loss covered by a commercial property insurance policy. …
The independent agency channel places 62% of all property-casualty insurance written in the U.S., according to the Big “I” 2022 Market Share Report. The annual Market Share Report compiles and analyzes property and casualty premium data from AM Best and …
