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.

In 2024, manufacturers are expected to face economic uncertainty based on the ongoing shortage of skilled labor, lingering supply chain disruptions, and new challenges around innovation and climate change. Like any other industry, mistakes happen in manufacturing, which means maintaining both E&O and product recall coverage should be an important part of any company’s risk management plan.

The excess casualty market faces a rough road ahead. After a difficult 2020, the market is likely to remain hard at least through 2021 and possibly into the following year. Carriers continue to reduce limits and increase premiums as they grapple with the aftereffects of underpricing in the soft market. Much of the hardening is being driven by losses in auto, and also where social inflation is leading to more so-called ‘nuclear’ verdicts. Along with auto fleets, construction, real estate, habitational and hotels stand among the more difficult markets.

The term catastrophe became a part of everyday life this year as the global coronavirus pandemic spread across the country. With spring also came the "normal" catastrophes, including a spate of deadly thunderstorms and tornados. This was followed by an early start to a hurricane season that kept setting records through the summer, and a disastrous wildfire season for which the full scope of damages will not be known for some time.

Often we assume that bigger is better, but unless products and promises are backed by exceptional service, the value proposition can quickly lose its luster. A large public manufacturer of healthcare products had become dissatisfied with the level of attention and service received from its broker, which is known for high level sophistication and client advocacy particularly in the area of Professional Liability. A smaller retail broker, with a reputation for excellent customer service was given the opportunity to submit a Request for Proposal (RFP) outlining the retailer’s ability to meet the manufacturer’s insurance service needs.

COVID-19 has infected millions of people and has taken so many lives around the globe. Unwilling to stand by and do nothing as the economy and our communities struggle, companies all around the U.S. are looking for ways to help fight the virus, ensure business continuity, and keep generating revenue.

The global community is more interconnected than ever before. Widespread travel and business relations requiring international supply chains make pandemics a more likely threat.

Will premiums increase? Are terms and conditions changing? What lines of business have limited markets? Which lines of business have excess capacity? Here’s what clients can expect in the marketplace for 2020 in a quick and easy to read reference guide.

Originating in Wuhan, China, the Covid-19 virus has now been diagnosed in more than 111,000 people worldwide and resulted in over 3,800 deaths.^7,8 The first U.S. case of COVID-19 was reported on January 21st, and that number has grown to 566+ U.S. infections resulting in over 20 deaths, so far.^4,8 As we watch the coronavirus begin to touch communities across the country many are naturally wondering who is at risk and how to prepare.

The commercial cannabis industry is booming. It now employs more than 250,000 people, with legal marijuana sales reaching an estimated $9.7 billion across North America in 2018.

A good reputation is valuable but also fragile. As Berkshire Hathaway Inc. Chairman Warren Buffett said, “It takes 20 years to build a reputation, and five minutes to ruin it.” In the headlines every day are incidents that damage the public’s perception of an organization, from social media controversies, to executive misconduct to regulatory violations. Fortunately, a new generation of insurance products is emerging to provide protection for reputational risks.

Chemicals commonly used in fire-fighting foams and a wide range of household items, from non-stick cookware to stain-resistant carpet, are turning up more often as exclusions on insurance policies. That’s due to a growing wave of litigation over water contamination and rising concerns among insurers that the chemicals per-and polyfluoroalkyl substances, or PFAS, could expose them to the same kind of expensive, unanticipated claims as asbestos did a generation ago. While property owners may see more scrutiny over PFAS, environmental insurance can still provide effective risk transfer in many cases.

The property market continues to change amid decreased capacity and increased caution among carriers. There is little capacity left among many Lloyds syndicates, and domestic markets are more selective overall—particularly on tougher classes of business. While the first quarter of 2020 may bring some relief on capacity, insureds should expect increased rates, higher deductibles and greater scrutiny from underwriters. Valuations are particularly important along with better data on construction, especially for roofs. In this transitioning market, experienced brokers show their worth in finding the best solutions for clients.

Foodborne illnesses such as E. coli and salmonella sicken about one in six Americans, or about 48 million, and kill about 3,000 every year, the CDC estimates.