Benign hurricane season ends ‘peak hardening’ for US commercial property
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Benign hurricane season ends ‘peak hardening’ for US commercial property

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As the 2023 Atlantic hurricane season ends without a major wind event, US commercial property rate increases are decelerating significantly, with sources projecting single-digit hikes for clean accounts in both admitted and E&S markets for next year.

Underwriters’ concern surrounding the volatility of secondary perils is sustaining caution over rate adequacy, in which multiple carrier sources have conveyed weak confidence.

As

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