Intel

The Personal Insurance market continues to face challenges as wildfire risks lead to tightening capacity, increasing premiums, and stricter underwriting practices. See below to learn how legislative changes, risk mitigation efforts, and advancements in technology are shaping the future in 2025.    

KEY TAKEAWAYS: The January wildfires in southern California affected areas not typically prone to such risks, making the situation particularly alarming for insurers and residents alike. Despite challenges, the Excess & Surplus (E&S) market is expected to continue growing, although at a slower pace when compared to recent years. As we move into 2025, small businesses may see modest…

As California endures the heartbreaking devastation caused by recent wildfires, Bill Gatewood, Corporate Senior Vice President, National Personal Insurance Practice Leader, Burns & Wilcox, Detroit/Farmington Hills, MI, shares insights regarding how these unprecedented events are affecting homeowners and transforming the insurance landscape. https://vimeo.com/1047142547/30645e240d?ts=0&share=copy For additional intel into the E&S market, watch the full Eye on 2025 P&C Webinar recording…

The wildfires in Southern California have deeply affected countless individuals, underscoring the devastating consequences of severe weather conditions. Our thoughts are with those impacted and the first responders working tirelessly to safeguard lives and communities. In our regularly scheduled Eye on 2025: Property and Casualty (P&C) webinar, our expert panel expressed their support for those affected by the wildfires and…

As experts tally losses from the record-breaking 2024 Atlantic hurricane season, which brought a total of 18 named storms and the earliest Category 5 hurricane to date, some estimates suggest that its total damages and economic losses could reach $500 billion. The unprecedented season included five hurricanes that made U.S. landfall, with estimated losses between $25.5 billion and $68.5 billion,…

The Residential Property market has experienced severe volatility over the past several years, including pronounced rate increases and capacity limitations in California and other western states impacted by wildfires. As weather-related catastrophic (CAT) events and wildfires have become more frequent, many insurance carriers have adjusted their risk appetite. An increase in claims activity has forced carriers to limit capacity, resulting…

The E&S market is transforming, and Residential Property risks are finding a new home in the non-admitted space. Watch the recording of “The E&S Evolution: Solutions for Residential Properties” to gain expert insights into the trends reshaping the industry. Learn strategies to: Secure tailored solutions Navigate challenges Elevate your client service Panelists: Heather Posner, Vice President, National Product Leader, Private…

Insurance carriers paid out more than $100 billion in catastrophe (CAT) insurance losses in 2023 and in the first half of 2024, making it the costliest two-year period in history. More than $60 billion in global insured losses have been paid in the first half of 2024, which is 62% above the 10-year average. The culprit? Severe convective storms…

It has been a devastating wildfire season across the western United States. Fast-moving blazes have forced thousands of people to evacuate, destroyed homes and scorched millions of acres of land. In other parts of the country, catastrophic flooding has ravaged homes, businesses, and infrastructure. Extreme heat, tornadoes and hurricanes also remain serious threats. In our Extreme Weather and CAT Insurance webinar,…

Many of the primary factors that influenced the status of the Property & Casualty (P&C) market in 2023 are likely to remain in 2024. We continue to operate in a comparatively hard environment marked by rising but moderating rates on some lines of business, where it is often necessary to layer available capacity that includes carefully worded terms and conditions…

During the P&C Market Outlook: Eye on 2024 Webinar on January 4, 2024, our own Bill Gatewood joined us to provide an update on the Personal Insurance market. Watch a highlight from the discussion below. https://vimeo.com/901644448/ae9c319de6?share=copy

During this webinar, our experts Blaise D’Antoni and Bill Gatewood met to discuss the factors that will shape the 2024 Property and Casualty market. Paul Smith hosted. Key Takeaways: There is an overall broader sense of optimism in the 2024 commercial property market. It has improved but still has to overcome the significant CAT losses from previous years and growing…