The State of the Property Insurance Market
Rising premiums, disappearing capacity, and tighter contract terms are the new reality for insurance buyers as they renew their property insurance programs. For insurance carriers, rising rates and more restrictive terms are finally bringing relief from a prolonged period of chronically underpriced business. For many risk managers, however, the pressure is on to find creative ways of keeping their total cost of risk in check.
This report from Advisen and AXA XL examines the factors driving the current hard property insurance market, offers insurance buyers insights into what they can expect at their next renewal, and reviews strategies to manage a company’s total cost of risk during challenging market conditions. Additionally, it looks ahead to the coming economic downturn and how it may impact property losses and premiums.