Trend | Range | |
---|---|---|
Tier 1 (Well-engineered, clean and well-run risks) | Flat to +5% | |
Tier 2 (Clean, but lower premium income) | +7.5% to +12.5% | |
Tier 3 (Loss-affected programs) | +15%+ |
Scrutiny on reported values remains, but the recommended rate of value increase is slowing.
New capacity into the market is leading to increased competition.
Risk quality and account differentiation remain critical to successful renewals.
Business interruption (BI) volatility continues to be an area of focus as well as coverage restriction.
Underwriters are evaluating line sizes (both capacity deployed and percentage share) to improve underwriting results.
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 entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).