IVANS® today announced the November 2021 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, nearly all lines of business, except Workers’ Compensation, experienced an uptick in average premium renewal rate. Month over month, premium renewal rates increased for lines of business including Commercial Auto, Business Owners’ Policy (BOP),… Continue reading Year-Over-Year Average Premium Renewal Rates Remain Positive for Majority of Commercial Lines
Tag: hard insurance market
RPS Releases 2021 U.S. Property Market Outlook Report
2020 was a year marked by the pandemic and its economic fallout, coupled with record setting catastrophe losses. As we look ahead to 2021, our latest U.S. Property Market Outlook discusses the relative impact across key niche industries such as hospitality, habitational real estate, schools and public entities. Help your clients succeed with our 2021… Continue reading RPS Releases 2021 U.S. Property Market Outlook Report
U.S. Commercial Insurance Prices Again Increase Significantly During Q3
U.S. commercial insurance prices again grew significantly in the third quarter of 2020, according to leading global advisory, broking and solutions company Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the third quarter of 2020 to those charged for the same coverage and quarter in… Continue reading U.S. Commercial Insurance Prices Again Increase Significantly During Q3
Munich Re Expects Further Hardening of Markets
Following years of eroding rates caused by excess capacities and low major-loss expenditure, particularly in European markets, low interest rates – likely to remain even lower for even longer due to the coronavirus pandemic – are impacting the profitability of reinsurers. Insurance covers are therefore likely to become more expensive, particularly for long-term risks in… Continue reading Munich Re Expects Further Hardening of Markets
Hardening Market to Expand Reinsurance Margins: Wells Fargo
With the industry now entering a hard market cycle, analysts at Wells Fargo Securities believe pricing conditions will lead to better margins for reinsurers, as well as higher premium growth, a stronger ROE profile, and higher valuation multiples. Looking at historical examples, analysts noted that reinsurer underlying loss ratios improved by approximately 8% in 2006… Continue reading Hardening Market to Expand Reinsurance Margins: Wells Fargo
Market Continued to Harden in Q4 2019: CIAB Survey
The market continued to harden in Q4 2019, according to The Council of Insurance Agents & Brokers’ quarterly Commercial Property/Casualty Market Survey. Respondents reported rising premiums for all account sizes and all lines of business, with the exception of Workers’ Compensation, a notable trend in previous Council surveys. Premium prices increased by an average of… Continue reading Market Continued to Harden in Q4 2019: CIAB Survey
Signs of Continued Market Firming Prominent in Q2 2019: CIAB Survey
Market-wide firming observed last quarter became more starkly evident in Q2 2019, according to results from The Council of Insurance Agents & Brokers’ Q2 2019 Commercial Property/Casualty Market Survey. Accounts of all sizes experienced moderate premium pricing increases, with an average increase of 5.2%, compared to an average of 3.5% in Q1 2019 and 2.4%… Continue reading Signs of Continued Market Firming Prominent in Q2 2019: CIAB Survey