PropertyCasualty360

July 23, 2012

Remarkable unanimity reigns among the dozen carrier and broker executives offering their assessment of current conditions in the commercial-lines market.

Prices are clearly upward bound, with Workers’ Comp leading the way, followed by Commercial Property (especially in cat-prone areas). But new business is still being priced at lower rates than renewals.

Where are the opportunities in a highly mature U.S. market with a slowly recovering economy? Cyber is universally seen as an area of expanding exposures, with Environmental, Green Energy and Agriculture coverages also expected to help grow premiums.

And underwriters, thanks to ever-more-powerful data systems, certainly feel they are becoming more adept at differentiating among risk profiles, with this insight reflected in noticeably varying rates, deductibles, and terms and conditions among clients with exposures that share surface similarities (see Digital Extra).

What is keeping people up at night? The “new normal” in extreme weather, fracking, opioid prescriptions and low interest rates top the list.

If you want to maintain clients and win new business, make workers compensation premium recovery a real program at your brokerage. Partner up with Apex Services and you will distinguish yourself from the competition.