The increased premiums and worse results forecast might simply mean the increases aren’t enough to keep pace with loss increases – overall. Remember, these projections aren’t applicable to individual insureds, but rather, to the industry results. YOU may not experience a property catastrophe loss, but states other than the state where you live / work may, so results will vary widely by risk, state, line, etc..
I can’t get a handle on the implications of the deterioration projected; i.e. whether it is leveling off from a slowly, slightly hardening market, or it signals a downturn toward losses. More data and details are needed!
One constant; commercial auto being a loss leader for Workers Comp. Another constant; the typical, obligatory ‘Captain Obvious/ But If’ comment: if no cat losses happen, everything will be good :) … but if cats occur, profits will fall. :(
Crazy considering all of my P/C commercial insurance premiums are going up with no coverage increases or claims. :/
We had a hardened market from 2011 to 2014? Who else missed that one?
Yep Caleb, I missed it too.
Too much capacity, not enough business to go around, worsening loss trends (especially in Auto) what else would we expect?
The increased premiums and worse results forecast might simply mean the increases aren’t enough to keep pace with loss increases – overall. Remember, these projections aren’t applicable to individual insureds, but rather, to the industry results. YOU may not experience a property catastrophe loss, but states other than the state where you live / work may, so results will vary widely by risk, state, line, etc..
I can’t get a handle on the implications of the deterioration projected; i.e. whether it is leveling off from a slowly, slightly hardening market, or it signals a downturn toward losses. More data and details are needed!
One constant; commercial auto being a loss leader for Workers Comp. Another constant; the typical, obligatory ‘Captain Obvious/ But If’ comment: if no cat losses happen, everything will be good :) … but if cats occur, profits will fall. :(