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Property REDY® Index June 2022

Property REDY® Index June 2022

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.

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Carriers Shift More Risk Onto Builders For Multi-Family Frame Projects

Carriers Shift More Risk Onto Builders For Multi-Family Frame Projects

After the rapid price increases of recent years, the frame builders' risk market has stabilized, but carriers remain disciplined about rates. While capacity is adequate, carriers are looking at the aggregation of projects in areas and declining or limiting capacity on those in close proximity to each other or insured by the same company. Ensuring continuity of terms/conditions around coverage, warranties, and deductibles on quota share placements is also essential when seeking coverage.

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Insurers Hold a Hard Line on Reported Property Values in 2022

Insurers Hold a Hard Line on Reported Property Values in 2022

It’s no secret that property values are on the rise. Because property premiums are based on the reported value of the property, many insureds may be tempted to manage premium spending by submitting flat property values. While that tactic can offer premium stabilization in the short term, it actually works against the longer-term best interests of both the insured and the insurance industry. Relying on flat property values instead of updated values ultimately results in insureds being hit with significant price increases all at once when underwriting requests an updated appraised value based on market conditions. Relying on outdated valuation data means premium hikes hit much harder at renewal than they would if an insured reported more current values year over year, which would result in more incremental premium increases as property values rise over time. It’s also essential to make sure property values are current. Should a catastrophe strike, an underinsured business may not have sufficient funds to rebuild or make it through an extended shutdown.

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Property REDY® Index March 2022

Property REDY® Index March 2022

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.

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State of the Market at a Glance | Casualty, Property, ExecPro, Personal Lines, Construction

State of the Market at a Glance | Casualty, Property, ExecPro, Personal Lines, Construction

Wondering if premiums will increase or if changes to terms and conditions are coming? Curious about which lines of business may have limited markets or excess capacity? Here’s what clients can expect to see in the 2022 marketplace, all in an easy-to-read quick reference guide.

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Cyber REDY® Index October 2022
Cyber REDY® Index October 2022
Property REDY® Index October 2022
Property REDY® Index October 2022
Excess & Umbrella REDY® Index October 2022
Excess & Umbrella REDY® Index October 2022