- Alpharetta, GA
If there is one word to describe the casualty market over the last few years, it's "growth." After all, nearly 30 new, well-capitalized insurers have come on the scene since 2020, bringing fresh capacity to the marketplace and helping stabilize the rate environment in desirable classes of business like commercial construction and manufacturing.
However, there are foreseen challenges that linger. Inflation remains a concern across the entire property and casualty (P&C) value chain. Naturally, rising costs will have a direct impact on insurers through increased claims and other cost expenses. Inflation is causing widespread disruption in the casualty space as of 2023.
Additionally, there are increasing risks in the court of public opinion. Nuclear verdicts are becoming more common and have larger penalty verdicts. Corporate operations, their insurance premiums and the insurers behind those policies feel the effect of these verdicts.
The 2023 US Casualty Market Outlook examines the current state of this sector, and provides insights on how you can help clients navigate this situation to ensure smooth renewals for the remainder of the year and what to expect in 2023 and beyond.
Learn key insights from the 2023 US Casualty Market Outlook, including:
- The effect of rising inflation and interest rates
- Increasing risks in the court of public opinion
- The impact of technology on the market
- The state of various sub segments, including habitational and construction
Read the full 2023 US Casualty Market Outlook to learn more.