Lockton has released its March 2016 P&C Market Update, and the US property and casualty insurance market continues to be highly competitive. However, this could be impacted in the future by changes with some major market players.
Mergers, reorganizations, and re-underwriting of key carriers are causing some uncertainty, but we continue to find markets popping up to take over capacity where some might be exiting. Lloyd’s is also seeing a reemergence as a market for North American casualty business, writing across a broad appetite and attachment.
In addition, this report also features updates on the following areas of expertise:
- International: Market attracts carriers looking to stand apart
- Financial Services: Innovating coverage
- Surety: Welcoming new entrants to the market
- Healthcare: Organizations under strain
- Cyber: Market hardening for high risk businesses
- Energy: Low price of oil and natural gas drives down activity, lowers energy market premiums
- Environmental: New perspective likely to change appetites
- Construction: Residential is the most challenging
Read more about these developments in Lockton’s March 2016 Property & Casualty Market Update.