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The MGU is entering the often-difficult habitational GL space with an initial E&S offering. -
A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.
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Insurers can offer features the beleaguered fund can’t, the MGA said.
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As the US recovers from a major flood event, the vast majority of Americans remain uninsured.
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The company also encouraged insurers and brokers to support the initiative.
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Rate gains are easing across many commercial and personal lines.
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Early adopters of AI will see efficiencies – and likely increased market share, Kantar said.
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
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Few claims have been filed thus far, as damages have been highly localized.
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Rates have fallen an average of 10%, though changes can be highly specific to each property.
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They cover environment, political violence, equipment and cannabis.
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The MGA market now makes up 10% of the overall P&C market.
