Premium increases slowed across the board in Q4 2023 according to The Council’s recently released quarterly survey. The average premium increase across all account sizes was 7.0%, down from 8.1% in the previous quarter. Nevertheless, this was still the 25th quarter of consecutive increases.
Tag: CIAB
Q3 2023 P/C Market Survey Shows Softened D&O Premiums for First Time Since Q1 2017
Overall premiums increased by an average of 8.1% in Q3 2023 in comparison to 8.9% in Q2. This marked the 24th consecutive quarter of steady increases.
Cyber Price Increases Fall to An Average 3.6% in Q2: CIAB
In the “strongest sign of relief” of the past two years for cyber insurance buyers and their brokers, cyber premiums rose by an average of just 3.6% in the second quarter of 2023, according to the Council of Insurance Agents & Brokers’ (CIAB) latest survey.
Inflation Is Primary Factor in Premium Increases: CIAB
Market conditions remained difficult in the third quarter of 2022, with respondents reporting an average premium increase of 8.1% across all account sizes, up from 7.1% in the second quarter.
New Commercial Insurance Report from CIAB and EY Is Out
The Council of Insurance Agents & Brokers (The Council), in collaboration with global professional services firm, EY, today released The State of Commercial Insurance. This new report shares insights from the primary players in the commercial insurance ecosystem – carriers, brokers and policyholders (employers). The Council and EY conducted a survey of stakeholders to examine… Continue reading New Commercial Insurance Report from CIAB and EY Is Out
D&O Market Had Its Best Year Since 2014, But Faces Headwinds: AM Best
According to a recent AM Best report, last year was the most profitable for the directors and officers (D&O) liability insurance market since 2014, but it may not reflect the challenges that lie ahead for the product line. Double-digit price increases through 2021 fueled D&O insurers’ top-line premium growth, which is expected to remain near… Continue reading D&O Market Had Its Best Year Since 2014, But Faces Headwinds: AM Best
CIAB Survey: Record Premium Increases, Capacity Contraction for Cyber Insurance Q2 2021
Premium prices increased in Q2 2021, according to The Council’s Q2 2021 Commercial Property/Casualty Market Index, though the rate of increase continued to moderate. Across all lines of business, prices increased for the 15th consecutive quarter at 8.3%, down from 10% in Q1 2021. Both medium and large accounts experienced the highest increases, at 9.4%… Continue reading CIAB Survey: Record Premium Increases, Capacity Contraction for Cyber Insurance Q2 2021
Umbrella and Cyber Lines of Business Continued to Struggle in Q1: CIAB
Premiums continued to rise in Q1 2021, according to results from The Council of Insurance Agents & Brokers’ Q1 2021 Commercial Property/Casualty Market Index, though there were further signs the pandemic’s exacerbation of existing market conditions eased. Across all-sized accounts, the average increase in premium prices was 10% in Q1 2021, the 14th consecutive quarter… Continue reading Umbrella and Cyber Lines of Business Continued to Struggle in Q1: CIAB
Market Conditions and COVID-19 Continued to Impact All Lines of Business in Q4 2020: CIAB
Premium prices continued to climb in Q4 2020, though at a slightly slower pace than in previous quarters, according to The Council of Insurance Agents & Brokers’ Q4 Commercial P/C Market Survey. Prices rose across all-sized accounts by an average of 10.7%, down slightly from 11.7% in Q3 2020. The most recent quarter was also… Continue reading Market Conditions and COVID-19 Continued to Impact All Lines of Business in Q4 2020: CIAB
Market Conditions Accelerated by COVID-19 Led to Pricing Increases for All Lines: CIAB
The market continued to harden into Q3 2020, according to results from The Council of Insurance Agents & Brokers’ quarterly Commercial Property/Casualty Market Index. Respondents reported moderate-to-significant increases for all account sizes and all commercial lines, including Workers Compensation. The average increase in premium pricing for all-sized accounts again broke double-digits in Q3 2020 at… Continue reading Market Conditions Accelerated by COVID-19 Led to Pricing Increases for All Lines: CIAB