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As the industry gathers in San Diego, these are the key discussion points. -
From here on out, insurers will likely have to rely on the strength of their individual stories.
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Prices for programs that renewed in both Q1 2023 and Q1 2024 decreased 15%.
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The carrier is also targeting E&S growth in property brokerage and global specialty.
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Concern about vague cat modeling language was a theme at a Tuesday workshop.
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The casualty segment posted $18mn of favorable reserve development across multiple accident years.
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Property rate increases decelerated to 3% in the quarter.
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A litany of underwriting and quoting constraints has made it much harder to write business.
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For workers’ comp, premium renewal rates were down -0.88% compared to -0.64% for Q4.
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Compared to March, more sources shared accounts of rate declines and oversubscription.
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Ten states joined in the original suit.
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Social inflation is driving “cat-type” losses, with an increase in $50mn-plus verdicts.
