Your source of general liability insurance market trends and analysis for Q2 2018
General liability has experienced little change in the first half of 2018. The market continues to be competitive however insurers have started to differentiate more between loss-free and loss-active accounts. Although the market is still relatively soft, it is more difficult to achieve the type of rate reductions we’ve been able to negotiate in the recent past.
There is an abundance of capital, and competition remains strong, which has affected insurer profitability and underwriting returns. There is a greater analysis of portfolio performance and an emphasis on ways to deliver better value to buyers and maintain premium volumes. Also, insurers are looking to offer a better rating when underwriting multiple lines of business for the same insured.
- In general, the market remains stable; although certain sectors are seeing rate increases
- More scrutiny is being given to accounts with worker-to-worker claims, as well as sexual abuse exposures
- Demonstrating effective risk management is important in differentiating risk
- Insurers are becoming more risk selective and focusing on profitable growth
- For the most part, liability premiums should remain relatively stable throughout 2018
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