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Last year marked the second consecutive year in which carriers made a positive return. -
Capacity has gone up slightly, with new entrants and incumbents feeling better about their books.
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The program is aimed at affluent homes valued between $1mn and $6mn.
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GL and workers’ comp, however, may benefit from a more competitive environment.
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Ongoing pricing headwinds stand to weigh on carriers’ returns and valuations.
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This is the first rate filing to use the recently approved Verisk model.
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Commercial auto saw the largest rate change, which was down about a half point by the end of July to 7.96%.
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July’s medical care increase was up from June’s o.6%.
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Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
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Commercial liability and commercial property coverage continued to dominate the E&S market.
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The risk of cyber incidents that cause physical damage is also rising.
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California posted a 47% jump YoY, from a 28.4% rise in June.
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