Despite strong financial performance, the US property and casualty (P&C) market is still in a modest transition, as there is a continued increase in the frequency of severe claims and a prolonged period of large weather events. This is leading the market to be more laser focused. Now, more than ever, a client’s loss history, business operations, financial performance and other key factors contribute to the capacity available in the market and the price point in which underwriters will set terms. In the December 2018 Lockton Market Update, Lockton’s experts share the trends they are seeing in the marketplace and what clients should keep in mind as they prepare for renewals. In addition to general property and casualty updates, other topics addressed include:
- Specifics trends in the property market for energy, real estate and cargo clients.
- Casualty trends specifically related to foreign casualty, product recall and contamination, and the transportation industry.
- Executive lines.
- Cyber coverage.
- Medical professional liability.
- Personal lines for high net worth individuals.