The upstream market, which has seen a 5% growth in capacity, is benefiting from a quiet year for losses. This growth continues to fuel soft market conditions. Insurers are under pressure to expand their market share, which has led to reductions in rates and an increasing willingness among underwriters to take on leadership roles, further contributing to downward pressure on pricing.
Other benefits, such as financial education, salary advances, and employee discount programs, contribute to overall financial security. Flexible work arrangements, while not a direct financial benefit, can also have a significant financial impact by reducing costs related to commuting, childcare, and other expenses. Source link
The most recent short-term extension, passed in December 2024, is set to expire at midnight on March 14 unless Congress passes this legislation or another extension through the government funding resolution. The House of Representatives approved the continuing resolution on March 11, but the Senate had not yet voted on the measure. Source link
Cyber capacity expansion Capacity in the cyber insurance market has also expanded, making it easier to secure $5 million and $10 million limits for primary and excess coverage, RPS reports. While certain industries, such as public entities, education, and healthcare, still face capacity challenges, the ability to source higher limits has improved. RPS attributes this…
This imbalance masks a more concerning trend. As Sean Kevelighan, CEO of the Insurance Information Institute (Triple-I), noted, “Insurers have sounded the alarm… but change has been slow and the consequences are now clear.” According to Triple-I, the state’s regulations, though well-intentioned, have limited insurers’ ability to cover reinsurance costs and accurately price for wildfire…
Real estate investors now account for nearly 15% of home purchasers, creating growing demand for specialized insurance guidance and solutions. As the market expands, providing tailored advice and coverage that addresses the unique risks and needs of these clients is essential for a successful insurance business. Download this resource to learn: How to assess…
