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 2024 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 2024 guides.

Following a year-long reset, a less turbulent property market is offering reasons for cautious optimism as capacity stabilizes across geographies and lines of business. While challenging conditions persist, a more targeted approach to further adjustments is anticipated in 2024.

Persistent, significant losses are still driving up expenses and constraining capacity within the casualty market for habitational business. As insurers reduce coverage limits, increase deductibles, and impose stricter underwriting criteria, it becomes crucial to strategically promote comprehensive submissions in order to secure optimal coverage.

In 2023, the habitational insurance marketplace presents many challenges for property placements. Years of low rates and low valuations, combined with the impact of catastrophe events has created a perfect storm for the hard market. Property owners, insurers, and brokers find themselves grappling with a new reality where traditional underwriting models must contend with the weight of severe and frequent claims as well as the persistent specter of climate-related perils. Navigating this marketplace demands a deliberate balance between creativity, sound risk assessment, and adaptability to secure coverage.