PRICING TRENDS
Insurance buyers face an uncertain outlook over the next year. While the sharp primary rate increases of the past four years appear to have eased, prices are still rising, and general economic conditions and other market forces may preclude much further easing.
Insurance buyers face an uncertain outlook over the next year. While the sharp primary rate increases of the past four years appear to have eased, prices are still rising, and general economic conditions and other market forces may preclude much further easing.
Hurricane Ian is likely to be a significant loss event for the U.S. property/casualty and global reinsurance sectors and is expected to accelerate the firming of property rates in 2023, Standard & Poors Global Ratings said in a note Friday.
Hurricane Ian is likely to be a significant loss event for the U.S. property/casualty and global reinsurance sectors and is expected to accelerate the firming of property rates in 2023, Standard & Poors Global Ratings said in a note Friday.
Firm rates and capacity constraints are likely to continue in the wholesale and specialty insurance market for the remainder of this year and into 2023, even as some areas moderate, according to sources at the Wholesale & Specialty Insurance Associations Annual Marketplace.
Firm rates and capacity constraints are likely to continue in the wholesale and specialty insurance market for the remainder of this year and into 2023, even as some areas moderate, according to sources at the Wholesale & Specialty Insurance Associations Annual Marketplace.
U.S. commercial insurance prices increased by 5.9% on average in the second quarter, compared with the year-earlier period, according to Willis Towers Watsons latest pricing survey.
U.S. commercial insurance prices increased by 5.9% on average in the second quarter, compared with the year-earlier period, according to Willis Towers Watsons latest pricing survey.
Average insurance pricing in the United States decreased by nearly half a percentage point in during this year’s third quarter, reversing a trend toward flat pricing, said Marsh LLC in a report issued Wednesday.
All lines of business except for workers compensation saw increases in premium pricing during the third quarter, according to The Council of Insurance Agents and Brokers’ quarterly commercial property/casualty market index survey, the organization said Thursday.
Reinsurance rates could stabilize or increase at the Jan. 1, 2019, renewals, according to a report released by Morgan Stanley, which noted that after last year’s record catastrophe losses, property catastrophe reinsurance pricing improved “slightly” in 2018.
Escalating losses in the casualty insurance market are expected to trigger upward pricing pressure across most commercial lines of business in 2019, led by a continued rise in premiums in the auto sector, according to a new report from Willis Towers Watson PLC.