Rates
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Horace Mann will adjust rates soon to deal with higher labor and materials costs.
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From storms to Covid, large catastrophes are affecting P&C terms and limitations.
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Adjusted for large renewals and IPOs, the pricing index rose 7.7% in the second quarter.
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COO Brian Haney pushed back on the notion that rate hikes had hit their peak and said he expected rising inflation to "prolong the hard market".
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“I think it's fair to say that the market momentum is clearly there,” Grandisson said on Thursday.
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RenRe CEO Kevin O’Donnell said cyber reinsurance rates were two fifths higher in Q2 than during the same period last year.
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Commercial property slows down and workers’ comp worsens.
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Social Inflation could rebound faster than expected and disrupt the industry's narrative on margin expansion.
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Progressive’s June results point to worsening underlying trends for personal auto carriers.
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The new adjustments will increase rates 7.6% on average after February 1, 2022.
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Business insurance rates rose by 5.9% in Q2, down from 7% in Q1, but it is still too soon to declare a change in trend, according to the MGA’s latest report.
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Buying D&O insurance for special purpose acquisition companies (SPACs) has become difficult, even by the exacting standards of the current hard market for executive liability market risks, Amwins noted in a report this week.
