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.
Tag: hard market
Orion180 Places $455M Reinsurance Arrangement
Amid hard market, backstop supports aggressive growth strategy in Southeast personal lines markets.
Gallagher Re: Hard Market for Aviation Reinsurance to Continue
As aviation reinsurance continues to recover from large losses caused by a number of challenges in recent years, the medium-term outlook suggests that the market will remain difficult for some time to come.
WTW: Hard Market Begins to Ease
The second half of 2022 has ushered in a new environment that provides a brighter picture, one with improved pricing conditions, coverage, and capacity for many commercial lines of business.
Reinsurance Rates for Catastrophe Property Expected to Rise by 10%: Fitch
Reinsurance rates for property catastrophe business should rise by more than 10% when contracts are renewed in January 2023.
Fitch: U.S. Insurers to Navigate a More Precarious Economy in 2023
The U.S. economy is headed for a mild recession next spring, with different outcomes for all major insurance sectors.
Hard Market, Higher Interest Rates to Spur Insurer Growth
Swiss Re Institute expects the insurance industry to return to premium growth of 2.1% annually on average in real terms in 2023 and 2024.
July Renewals See Attachment Levels & Costs Rise: Gallagher Re
According to Gallagher Re’s 1st View report, almost all buyers of protection were able to secure their reinsurance coverage at a July 1st, 2022, renewals shaped by economic factors that helped to sustain market hardening. Following the June 1st reinsurance renewals, all eyes turned to the later mid-year renewals in July, due to a decrease… Continue reading July Renewals See Attachment Levels & Costs Rise: Gallagher Re
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
Commercial P&C Marketplace Remains Hard, But Better Times Ahead for Buyers
North American commercial property & casualty (P&C) insurance buyers can expect an ever-so-slight turn for the better and a less difficult marketplace in the months ahead, according to Willis Towers Watson’s 2021 Insurance Marketplace Realities report. However, the global advisory, broking and solutions company says buyers will continue to face upward pressure on pricing across… Continue reading Commercial P&C Marketplace Remains Hard, But Better Times Ahead for Buyers