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E&S property rates to soften further, while casualty pricing varies
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Business Insurance
Property ratesModest property rate decreases are expected to continue, depending on what happens in the remainder of the hurricane season.
Property rates are not in “freefall,” said Kyle Burnett, New York-based senior vice president, head of E&S property, North America at Swiss Re Corporate Solutions.
The E&S market continues to see double-digit growth, said Tonya Courtney, Atlanta-based senior vice president of E&S brokerage property at Nationwide Insurance.
CasualtyE&S casualty rates vary, driven by ongoing “social inflation” — higher court awards and settlements — and litigation.
Claims severity is an ongoing concern, said Sara Gundersen, New York-based executive vice president, E&S casualty, at Sompo.
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