The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data-driven expectations with their clients. Removing the guesswork empowers CRC team members to negotiate competitively, consistently producing better outcomes, better deliverables, and better results.
PROPERTY REDY® INDEX - April 2023
MONTHLY RENEWAL PRICING ANALYSIS
ONGOING PROPERTY ISSUES
- For accounts that have already experienced multiple challenging renewal cycles and are not subject to additional capacity constraints, rate movements align with those depicted by the REDY index. Similar accounts that have embraced robust valuation efforts are seeing 10%. However, risks placed historically with 100% MGA capacity, those now entering the E&S from the standard marketplace, or loss-affected risks are likely to see increases of 25% - 100%+.
- Catastrophe-exposed accounts or those with unique exposures may see prices above what is indicated in the index. Further adjustments to terms and conditions and rate are anticipated to accelerate throughout 2023. Natural Catastrophe Limits continue to be monitored by carriers, and available aggregate will be under pressure through the 7/1 renewal date.