2020 was a year marked by the pandemic and its economic fallout, coupled with record setting catastrophe losses. As we look ahead to 2021, our latest U.S. Property Market Outlook discusses the relative impact across key niche industries such as hospitality, habitational real estate, schools and public entities.
Help your clients succeed with our 2021 US Property Market Outlook with key insight and information:
- Every commercial property insurance buyer will feel the effect of a firming market
- Reinsurance will play a larger part in pricing terms than in the years past
- Rate increases in the high-single digits to 15% range on clean accounts, higher on accounts with losses
- Catastrophe deductibles converted from flat dollar amounts to percentages, and percentages increasing from 2% to as high as 5% in some areas
- Multiple insurers needed to assemble higher excess coverage limits
- New communicable disease and riot exclusions being introduced
- More restrictions on time element, ingress/egress business interruption (BI) cover
- Builders’ risk extensions moving into E&S market
- Enhanced scrutiny of hospitality industry accounts
View our full line of Property capabilities to come through for your clients.