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Retentions and coverage could be affected by future adverse claims trends. -
Given ample capacity and no sharp increase in demand, a market sea change is not expected, barring an unforeseen economic event.
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WTW said adverse development “is evident” in auto liability lines from 2015 to present.
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Premium inflation holds, as loss-cost inflation trends continue to moderate.
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This continues a consecutive quarterly gain of over 6%.
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Personal lines rate filings are rising, even as some inflation drivers slow.
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Commercial property rates for February rose 10.77%, up from 10.30% in January.
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Premiums rose an average of 7% across all lines, down from Q3.
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Carriers expressed confidence on the line’s ability to withstand medical inflation.
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Otis could be a $2bn-$3bn loss, but more information is expected before June renewals.
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CSAA writes over 70% of its business in the Golden State.
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This follows a record-breaking $63bn of premium and 24.1% growth for 2022.
