Amid market opportunities, challenges exist For the U.S. construction insurance market, 2017 was one damaging year. According to Aon’s Construction Risk Outlook Report, 2017 natural disasters losses broke records—topping $132 billion in the states and $344 billion globally. Thanks to the costliest Atlantic hurricane season on record, nine of the ten losses registered impacted the United States. But bright signs exist. According to the Insurance Information Institute, surplus stands at
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Rate stability and product enhancements call for vigilance in risk control and claims Can things ever get too good in a line of insurance? Architects and engineers (A&E), as well as other design professionals, are enjoying a sustained buyers’ market for liability coverage. In its latest annual survey, the specialty brokerage Ames & Gough reports that more than two-thirds of the 17 carriers it surveyed do not plan to increase
Expect the cybercrime landscape to constantly shift One of the unique aspects and challenges of cyber liability is the rapid evolution of the risk and coverage required. Above all else, it’s vitally important to regularly check in and follow trends in cybercrime, coverage and industries affected. With that in mind, there are seven crucial current and future cyber drivers and things to know about trends in cybersecurity. Ransomware isn’t going
Impressive growth seen in market despite unthinkable issues The global travel industry was worth some $1.6 trillion in 2017, according to a 2018 travel and hospitality industry outlook published by Deloitte. As economies improve around the world, the industry will continue the upward trend. Rising disposable income, says the Deloitte study, coupled with new wanderlust, has helped bring new consumers to the market. To what extent? The report reveals that
Will anything harden this market? Writing in August 2017, Phillip Masi sounded almost giddy about the prospects for condominium and homeowners associations shopping for insurance for the coming year. “The community association insurance outlook for 2018 remains positive,” wrote Masi, senior vice president of Assured Partners in Lake Mary, Florida. “Every time we think we are starting to see a bottoming out of the property insurance rates, they continue to
