Trend | Range | |
---|---|---|
U.S. market | ||
Transit only - Good loss experience |
+5% to +10% | |
Transit only – Marginal to poor loss experience |
+15% or more | |
Stock throughput – Good loss experience |
+7.5% to 12.5% | |
Stock throughput – Marginal to poor loss experience |
+15% or more | |
London market | ||
Transit and stock throughput - Good loss experience |
+2.5% to +7.5% | |
Transit and stock throughput - Margnal to poor loss experience |
+10% to +20% or more |
The hard market continues, but rate increases have decelerated compared to what buyers saw from 2018 through 2020, largely thanks to renewed competition in the marketplace.
Underwriting discipline persists. Insurers remain focused on bottom-line profitability, with continued scrutiny of insuring terms and conditions and capacity deployed.
Vulnerabilities throughout the supply chain were made more apparent during the COVID-19 pandemic.
Cargo and stock throughput markets are challenged by catastrophic losses.
Willis Towers Watson hopes you found the general information provided in this publication informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, Willis Towers Watson offers insurance products through licensed subsidiaries of Willis North America Inc., including Willis Towers Watson Northeast Inc. (in the United States) and Willis Canada, Inc.