Property and Casualty Insurance Rates remain “flat” - Insurers have had the best quarter in 30 years

By Donna Eyman
Property and Casualty Insurance Rates remain flat - Insurers have had the best quarter in 30 years
Donna Eyman

Level Property/Casualty premiums will be welcome news to businesses in the U.S. This will be meaningful to employers given the projected increases in health insurance costs. A couple of years ago there were predictions of another “hard market” in the property/casualty marketplace, meaning increases in premiums and tightening of underwriting requirements.

This has not happened. Much of this has to do with catastrophe losses which have been much lower than expected. Less hurricanes, earthquakes, etc. which has equated to a 31% jump in profitability for insurance carriers the first quarter of 2015. (Statistics are provided by the ISO Insurance Programs and Analytics Services).

Insurers are well positioned to continue to provide the necessary financial security for their policyholders as we move into another uncertain hurricane season.

Investment yields have also been strong. Hopefully this trend will continue which could lead to another “soft market” where Property/Casualty premiums will remain stable or on the decline.

Posted in Community Insurance Involvement.
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