Want to know more about what to expect in the insurance marketplace but don’t have time to read a 10+ page State of the Market? Interested in emerging trends and market or capacity changes? Gain the key marketplace insights you need at just a glance with our easy-to-read 2025 guides.

Want to know more about what to expect in the insurance marketplace but don’t have time to read a 10+ page State of the Market? Interested in emerging trends and market or capacity changes? Gain the key marketplace insights you need at just a glance with our easy-to-read 2025 guides.

How are rising U.S. oil production and nuclear verdicts impacting the energy insurance market? Explore the latest trends, pricing shifts, and underwriting challenges in this must-read article. Stay informed and keep your clients ahead of the curve!

After a year of slashed demand in 2020, global oil demand surged in 2021 as the world began to recover from the coronavirus pandemic. In 2022, energy demand and commodity prices are still up, indicating that the energy industry is strong (source 3). Refineries are operating at approximately 95% capacity, and many companies would like to expand operations conservatively. But, like other industries all across the country, energy companies are struggling to find and hire qualified employees to fill positions. They’re also grappling with ongoing supply chain problems that make it difficult to obtain materials and purchase or repair vital equipment. As the insurance marketplace continues to contract, prices are rising for several product lines.

A few weeks ago, the global economy appeared to be on track to prevail against lingering pandemic effects. However, Russia’s recent invasion of Ukraine and mounting sanctions against the country are pushing the needle back, creating new supply chain and logistical problems, especially when it comes to transporting goods near the war zone.

The stresses that had been building in the California earthquake market have begun to ease. The momentum of rate increases has slowed, although high-risk zones and older buildings remain challenging. Capacity has improved as carriers see a better risk-reward outlook after the significant rate increases of recent years. Higher deductibles are part of the changing landscape, due to pressure from carriers, but also as a means for buyers to manage premium costs. In an evolving market, working with a knowledgeable broker with broad access to markets and in-house modeling expertise can help buyers achieve better results.