SCOR begins 2021 with excellent renewal results, in line with the forecasts shared during its September 2020 Investor day, when the company was amongst the first reinsurers to outline a very positive outlook for the P&C reinsurance market. Conditions for the Reinsurance treaty market hardened significantly, driven as anticipated by price increases and improved terms… Continue reading Hard Market Conditions Help SCOR Achieve Excellent P&C January Renewals
Tag: hard 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
Traffic Eases Amid Pandemic, but Trucking Insurance Costs Still on Upward Trajectory
Reduced highway traffic during the ongoing COVID-19 crisis has lowered the risk of crashes, but this silver lining of the pandemic has provided only a temporary reprieve for trucking companies that have seen escalating insurance costs in recent years. When the coronavirus outbreak first took hold in North America, miles traveled by the general public… Continue reading Traffic Eases Amid Pandemic, but Trucking Insurance Costs Still on Upward Trajectory
Average Premium Renewal Rates Continue to Harden Across Nearly All Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the August results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business experienced an increase in average premium renewal rate, except Workers’ Compensation, which saw a negative change in premium. Month over month, August premium renewal rates experienced… Continue reading Average Premium Renewal Rates Continue to Harden Across Nearly All Major Commercial Lines
Swiss Re Sees Positive Outlook for Renewals, Further Market Hardening Expected
Following rate improvements in many markets, and particularly in loss-affected segments, Swiss Re expects further rate hardening across all lines of business. At the same time, the reliance on underwriting profits increases in the low interest rate environment. Swiss Re also expects more opportunities for re/insurers due to a combination of improving insurance demand and… Continue reading Swiss Re Sees Positive Outlook for Renewals, Further Market Hardening Expected
Reinsurance Hard Market Pricing Attracts Capital
Reinsurance market dynamics including increased pricing, years of accumulating catastrophic losses, investment market losses and the significant losses expected from the fallout of the coronavirus pandemic have led to reinsurers’ push for further price increases, Fitch Ratings says. The environment has attracted increased capital as a result, with the potential for double-digit price increases to… Continue reading Reinsurance Hard Market Pricing Attracts Capital
Fleets Should Expect Even Higher Insurance Costs
Trucking insurance premiums have been on the rise in recent years and are expected to get worse. “I do see the potential for costs to rise,” Todd Reiser, vice president of the insurance brokerage Lockton Cos., told Transport Topics. “When we really started to see the impact was probably in March or April of 2019.… Continue reading Fleets Should Expect Even Higher Insurance Costs
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
The Hardening Market: Insurers Drive Up Prices for U.S. Businesses
U.S. companies are paying more for insurance, a reversal after years of flat or declining rates for property and liability policies. Insurers have raised prices aggressively in the past year on companies of all sizes across the country. And they have warned price hikes are likely to continue. The turnabout underscores a challenging landscape for… Continue reading The Hardening Market: Insurers Drive Up Prices for U.S. Businesses
More Favorable Pricing Permeates Global Reinsurance Industry, But Is It Sustainable?
The global reinsurance market as a whole has exhibited more underwriting control as evidenced by a holding back of capacity at the midyear 2019 renewals; however, questions remain over the sustainability of this newfound discipline, according to a new AM Best report. The new Best’s Market Segment Report, “Global Reinsurance: Fighting the Last War,” notes… Continue reading More Favorable Pricing Permeates Global Reinsurance Industry, But Is It Sustainable?