"With so much supply, “it’s going to be difficult to see major market corrections, because there’s still so many good risks out there and there’s still so much capacity” despite last year’s hurricanes and wild fires"
Tony Tan Marsh LLC in Business Insurance 5 Jan 2018
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After years of decreases, casualty insurance risks, including directors and officers liability and other specialty lines, generally saw flat renewals on Jan. 1, 2018, with the notable exception of commercial automobile risks where insurers obtained rate increases, experts say. Speculation that last year’s big property catastrophe losses would drive up rates across insurance lines does not appear to have been borne out but fewer accounts are seeing rate cuts, they say.
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