2020 saw the most challenging and erratic Casualty market in 30 years, marked by dramatic rate increases, vacated capacity and coverage non-renewals, particularly in the Umbrella/Excess market. Although not as painful as last year, the Excess market in 2021 remains unpredictable and rates continue to firm.
Rate increases, however, are not as dramatic as last year, currently averaging 15%-25%, versus 30% or more in 2020 for high-hazard segments such as Sexual Abuse and Molestation, Assault and Battery and Cyber.
Help your clients succeed with key insights from the Casualty Market Outlook: Mid-Year 2021, including:
- Recent market trends, including the rise of new entrants into the Casualty insurance market, tempering rate increases, a look at nuclear verdicts and their impact on the industry.
- Deep dive into the various industry segments, including habitational, construction, environmental, sports & entertainment and religious sector.
- A look at what is ahead for the Casualty market, and recommendations on what measures agents and brokers can take to help shape positive outcomes for their clients.