USI’s 2023 Commercial P&C Market Outlook Mid-Year Addendum
Insurance market rate trends, challenges and solutions
This addendum updates the insurance market trends that have changed since our January forecast, reports the state of our current markets, and highlights important developments that are starting to emerge.
Our nation’s shaky economy and uncertain economic future are common threads that run through this report. Due to economic and inflationary factors, many insurers are becoming more conservative in their pricing models and prolonging an environment of rate increases. However, some markets remain stable despite inflation and other economic pressures. Now is a critical time to invest in the right risk management strategies and start the insurance renewal process early as insureds vie for available capacity.
We also continue to provide Historical Rate Index Charts for major lines of coverage. The charts provide a more comprehensive look at how rates are trending from 2018 to present day.