commercial property
May 25, 2023
Complex Property Risks Create Challenging Market
Economic, social and environmental trends are combining to create significant risks and challenges for property owners and their insurers. Across industries, from manufacturing to real estate to healthcare, some of the same themes are present. These include changing valuations of physical assets and higher replacement costs, supply chain issues, and contingent time element exposures. Supply...
May 18, 2023
Commercial Property Rates Increase, Cyber Rates Moderate
Commercial property and casualty insurance rates rose 8.8% in the first quarter of 2023 (up slightly from 8.0% in the previous quarter) as property outpaced all other lines at an average of 20.4%, according to the latest Council of Insurance Agents & Brokers (CIAB) market survey. As the market entered its 22nd consecutive quarter of...
February 24, 2023
Commercial P&C Prices Rose 8% in the Fourth Quarter of 2022
Commercial property and casualty prices continued to rise in the fourth quarter of 2022 with an average increase of 8% across all accounts sizes, down slightly from 8.1% in the third quarter, according to the latest survey data from the Council of Insurance Agents & Brokers (CIAB). Large businesses saw higher price increases on average...
July 13, 2022
2022 Midyear Market Outlook: Commercial Property Insurance
The commercial property insurance market has hardened in recent years, with consistent rate increases since the third quarter of 2017. These rate increases were evident in the beginning of 2022, with first-quarter rates rising by an average of 7.6%, according to industry data. Similar pricing trends occurred in the reinsurance markets during the same period...
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