Despite rate increases, 2023 was another challenging year for the property insurance market due to continued inflationary pressures, natural catastrophes and regulatory constraints.
The first speaker will go over the demand-supply dynamics of this property insurance market, including reinsurance and surplus lines. He will also provide details on the financial strain caused by record high severe convective storms, especially for regional insurers.
The second speaker will explain why rate increases may not always keep up with inflation. He will also provide regulatory updates for personal property in some States.
Both speakers will conclude by mentioning how dynamics may evolve in 2024-25.
Learning Objectives:
Understand the forces that are driving the property insurance market.
Discuss the market dynamics impacting the commercial property space.
Discuss market dynamics impacting the personal property space.
