Rates

Willis Towers Watson forecast a seller’s market this year in the latest Marketplace Realities report.

WR Berkley president and CEO William Berkley said the market is starting to grapple with past mistakes.

Speaking during a conference call, WR Berkley CEO Rob Berkley described pricing momentum that was “gradually building”.

Commercial auto is still a market in turmoil, RLI president and COO Craig Kliethermes said.

Rates across loss hit North American property catastrophe reinsurance programmes recorded increases from 2.5 percent to 7.5 percent at the recent January renewals, according to an Aon client reinsurance report. Meanwhile, loss-free accounts either held level or fell by up to 2.5 percent.