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The outlook calls for an 85% chance of an above-normal season. -
He will report to Cynthia Beveridge, global chief broking officer for commercial risk.
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Ten companies have filed a 0% increase and at least eight companies have filed a rate decrease to take effect in 2024.
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Average premiums rose 5.8% across all major lines, roughly flat from 5.7% in Q4.
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The CEO said he is “optimistic” about the future of the commercial space.
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Farmers cited “positive changes” in the state's commercial insurance market.
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The executive succeeds Rick Miller, who passed away last month at age 62.
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Casualty is less of a concern, despite reserving issues.
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Habitational, lessors’ risk and BOP accounts are among the most challenged.
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As the industry gathers in San Diego, these are the key discussion points.
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The company says its insurance policies “include significant property and inventory coverage”.
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Approximately 1.2 million units are vacant throughout the state.
