Top
image credit: Pexels

Commercial property insurance market proving to be more stable & capitalized, says USI

June 12, 2024

Category:

Following on from last year’s challenging property insurance market, 2024 is proving to be a “more stable and capitalized market,” according to USI Insurance Services.

In their latest Commercial Property & Casualty Market Outlook Mid-Year Addendum, USI notes that the widespread double- or triple-digit rate increases that were seen in 2023 have largely subsided for the broader market.

“Most renewals have seen single-digit increases, with some shared or layered placements seeing rate decreases due to the replacement of more expensive capacity from 2023,” the firm explained.

Read More on Reinsurance News