Channel Harvest Research has completed its 17th annual national survey of independent agents and brokers, with a focus on how they’ve been managing the hard market in property-casualty insurance.
Tag: hard insurance market
States Dig Into Homeowners Insurance and Why It’s Hard to Buy
State regulators around the country asked hundreds of insurance companies on Friday to provide the details of how they price and structure their homeowner policies, part of an attempt to dig into why many property owners are struggling to get and keep coverage.
Why Strong Carrier Partners Are a Must in a Hard Market
The hard insurance market for many product lines continued throughout 2023, with rate pressure, underwriting scrutiny, and capacity restrictions expected into 2024. A strong partnership with your carriers is essential for agents to navigate this hard market, help clients get the insurance protection they need, retain business, and gain new customers.
Trusted Choice® Launches Hard Market Toolkit
After an extended period of low premiums and abundant capacity, we are now in the midst of a hard insurance market.
More Buyers Look to Captives Amid Challenging Property Market
At midyear 2023, the insurance market is essentially split into two different markets, with many property insurance buyers facing the most challenging market in 20 years, while the casualty and liability insurance market was less challenging, according to Arthur J. Gallagher & Co.
Hard Market Cycle in U.S. Cyber Insurance Segment Brings Return to Profitability
The U.S. cyber insurance market continued strong growth in 2022, with direct premium increasing by 50% to $7.2 billion and improving loss ratios given greater attention to underwriting discipline, according to a new AM Best report.
Insurance Prices Will Keep Rising for ‘A Couple of Years at Least’
Inflation will drive insurance prices higher for “a couple of years at least”, Patrick Gallagher, chief executive, Gallagher, has said.
The Captive Insurance Series: Exploring the Hard Market
As the insurance industry navigates this most challenging period, characterized by rising costs and claims and fierce competition, carriers have responded by ceasing to offer specific products, adding significant exclusions, or broadening existing ones in their policies. As a result, customers face higher premiums, larger retentions, and deductibles, and decreased liability limits. Amid these challenges, captive insurance has emerged as a compelling alternative to conventional insurance, providing a range of benefits to policyholders.
2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Continue: Triple-I
According to actuaries at Triple-I and Milliman, a risk-management, benefits, and technology firm, the property & casualty insurance industry’s combined ratio – an indicator of underwriting profitability – is forecast at 100.7 for 2022, up 1.2 points from 2021. These findings were presented at a Triple-I members-only virtual webinar. Combined ratio represents the difference between… Continue reading 2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Continue: Triple-I
Advisen Panel Says No ‘Going Backward’ on Hard-Fought Casualty Pricing Levels
According to experts speaking at Advisen’s Casualty Insights Conference in New York, the casualty insurance hard market isn’t over, as underwriters fight to maintain the pricing ground they gained over the last two years and avoid repeating past mistakes. “With record earnings for insurers coming in, is the hard market over?” That was the question… Continue reading Advisen Panel Says No ‘Going Backward’ on Hard-Fought Casualty Pricing Levels