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P&C Market Update: Market Continues to Soften, Competition Continues to Rise

P&C Market Update: Market Continues to Soften, Competition Continues to Rise

The US property and casualty insurance market has seen a surplus of growth in the last several years, leading to ample capacity and favorable rates. Overall, it continues to be a buyer-friendly environment that is not expected to change soon, barring a catastrophic...
P&C Market Update: How TRIPRA Nonrenewal Affects Insurance Programs & Why it’s a Favorable Environment for Buyers

P&C Market Update: How TRIPRA Nonrenewal Affects Insurance Programs & Why it’s a Favorable Environment for Buyers

 The non-renewal of the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) has far-reaching implications, as the federal backstop will be unavailable to traditional insurers as well as to US-based captive insurers. In the latest Market Update, Lockton...
Property & Casualty Update: Increasing Capacity and Competition Contributing to Further Market Softening

Property & Casualty Update: Increasing Capacity and Competition Contributing to Further Market Softening

In today’s insurance market, excess capacity and increased competition (for the most part) have created opportunity in negotiating terms and conditions. Depending on the line of business, this has come in the form of flat to reduced rates, multiyear agreements, and/or...