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.
Tag: insurance market conditions
Market Conditions Continue to Stabilize with Exceptions: Woodruff Sawyer
Market conditions did not change significantly from the previous quarter in the fourth quarter of 2021, according to Woodruff Sawyer. We continue to see stabilization in many sectors of the commercial lines market, and cyber remains a concern for insurers as ransomware losses continue unabated. As premiums continue to rise, cyber buyers are feeling the… Continue reading Market Conditions Continue to Stabilize with Exceptions: Woodruff Sawyer
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