Market Shift Ahead?
Recent catastrophic storms, earthquakes and fires have wreaked havoc on communities across the US, Mexico and the Caribbean. What effect this will have on the global insurance market is just starting to emerge.
Lockton’s October 2017 P&C Market Update shows that the buyer’s market that has long been in place may be at a tipping point. With the exception of commercial auto, rates have continued to decline across all other P&C coverages.
However, hurricane, earthquakes and wildfire losses have the potential to drive price increases. We’ll maintain a close watch on the unpredictable market response, and continue to help our clients manage risk.
Lockton will continue to invest in innovative tools that allow clients to analyze and understand their risks and make informed decisions on managing that risk in any market conditions”, said Mike Andler, Property Practice Leader.
In addition, this report highlights the latest information on: Property; Casualty; Foreign Casualty; Management Liability; Cyber; Environmental; Terrorism; Transportation; Real Estate; Onshore Energy; Farm-to-Table; Food & Beverage and Product Recall.
Read more about these developments and the full property and casualty report in Lockton’s October 2017 P&C Market Update.