United States Insurance Market Report 2016
With 2016 under way, the global insurance marketplace appears to be heading in the general direction of soft pricing, reflecting insurer capacity, competition, and relatively low catastrophe losses, according to the “US Insurance Market Report 2016.”
However, industry developments, including recent earnings announcements, executive leadership changes, and re-underwriting at several companies bear watching. Macro dynamics such as global economic, political, regulatory, technological, and environmental developments will also continue to affect the industry throughout the year.
Among the report’s findings:
- Demand for cyber insurance rose in 2015, a trend expected to continue in 2016, barring unforeseen changes.
- Automobile liability remains among the most challenging of casualty areas; pricing generally increased in the low single digits in 2015 and is generally expected to do so again in 2016.
- The workers’ compensation market continues to improve, with generally favorable conditions for buyers.
- Despite significant global political turmoil and violence, political risk insurance rates generally declined in 2015 and are expected to do so again in 2016.
About the US Insurance Market Report
Through data and analysis, the “US Insurance Market Report 2016” provides a snapshot of current insurance market conditions and risk trends across major lines of coverage and industry/specialty sectors. The report reflects the experience of Marsh insurance professionals who work daily with the global insurance marketplace and provide clients with risk management advice.