A confluence of weather-related disasters, economic factors and market conditions are likely to drive the commercial P&C market to increase rates next year, according to executives at the CIAB Industry Leader’s Forum (ILF).
A spate of catastrophe events in the US, including hail, fire, convective storms and this season of hurricanes are expected to compound a sustained period of rate reductions across P&C lines of business to create a hardening market in the property sector – and beyond into casualty lines – many executives said.
Advisen canvassed opinion from a number of industry executives on expected market conditions for 2018. The ILF conference was taking place in Colorado Springs, CO, just as Hurricane Nate was making landfall and as news was breaking of the wildfires in Northern California. Please note that in such a dynamic natural catastrophe season, comments on market conditions may appear outdated very quickly. These interviews took place between Monday October 2 and Monday October 9 2017.
Read more at https://www.advisenltd.com/2017/10/11/2017-recipe-disaster-set-turn-commercial-pc-market-ciab-round/
Rebecca Bole, 2017’s ‘recipe for disaster’ set to turn commercial P&C market: CIAB round-up (October 11, 2017), available with subscription at Advisen Professional Front Page News.
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