Underwriters for both admitted and non-admitted insurers are under serious pressure to restore profitability to the property insurance market, especially for properties located in regions of the country exposed to hurricanes, tornadoes, hail, flooding and wildfires.
More scrutiny is also being placed on property valuations since replacement costs have been outpacing insured values throughout the U.S. for the last several years. Many property owners are choosing to assume higher deductibles and self-insured retentions to make coverage more affordable. The resulting impact is affecting industries across the board.
How can agents and brokers prepare their clients for what may come next in 2020?
Download the 2020 U.S. Property Market Outlook