The hard market is not over yet, but there are signs of stabilization. In fact, AM Best has even changed its commercial market outlook from “negative” to “stable.” However, rising premiums are still not over according to the CIAB Q3 2021 State of the Market report. Pricing increased across all sized...
While some trends were more moderated than in quarters past, bringing hope for a softening market in the future, market hardening persisted once again in Q2 2021. Pricing increased 8.3% across all-sized accounts, marking the 15th consecutive quarter of consistent premium increases. Large and medium...
The fallout from the collapse of the 136-unit Champlain Towers South condominium in Surfside, FL, continues to impact the entire country. As we cope with the horrific loss of life resulting from this tragedy, we are seeing its aftermath beginning to play out. In the weeks following the collapse...
When it comes to water, we’re stuck in a love-hate relationship. We celebrate it every summer when we launch our boats and plan our beach outings. Yet, water can quickly turn on us, replacing fun with considerable property damage. How can we hold onto a positive relationship with this potentially...
The market hardening trends that defined 2020 continued to kick off 2021, marking the 14th consecutive quarter of pricing increases according to the CIAB's Q1 2021 Commercial Property/Casualty Market Index. Large- and medium-sized accounts increased by approximately 12.9% and 10.9%, respectively...
Market hardening trends, outlined in the CIAB's Q4 2020 Commercial Property/Casualty Market Index, continued for the 13th consecutive quarter to close out a tumultuous year. Q4 2020 represents the third consecutive quarter of premium increases across all lines of business. Furthermore, while COVID...
As we continue to navigate an unprecedented hardening market paired with the COVID-19 pandemic, it is clear that the alarming trends of previous quarters are going nowhere for now and are being further exacerbated by the pandemic. Market-hardening trends continued in Q3 2020 according to the CIAB's...
Written by: Matt Kahn and Les Williams. This blog was originally posted on Risk & Insurance. This year has been a tumultuous one for so many reasons, highlighted by the COVID-19 pandemic changing nearly every aspect of life and compounded by the national discourse on racism, diversity and police...
Market hardening trends continued for the 11th consecutive quarter in Q2 2020, according to the Council of Insurance Agents & Brokers Property & Casualty Market Survey, with a 10.8% average premium increase across the commercial sector. Middle Market and Large Commercial accounts saw average rate...
The insurance market continued to harden in Q1 2020 according to the Council of Insurance Agents & Brokers (CIAB) Property & Casualty Market Survey. Stricter underwriting trends and rising premiums continued with a 9.3% increase across all-sized accounts. This increase marks the 10th consecutive...