USI’s 2024 Commercial P&C Market Outlook Mid-Year Addendum

Insurance market rate trends, challenges and solutions

This mid-year addendum to our January 2024 Commercial Property & Casualty Market Outlook provides updates on insurance market changes over the past several months, and forecasts the trends you need to know for the remainder of 2024.

As you review your insurance policies for renewal, it’s crucial to understand the current state of the insurance market so you can negotiate better terms, coverage and pricing with insurers. The insights in this report can empower you to make informed decisions that align with your risk management objectives and budgetary constraints.

The “Trends to Watch” sections in this report focus on emerging risks. These challenges may emerge or evolve over time, requiring you to reassess your insurance coverage. By keeping abreast of market developments, you can identify emerging risks early and ensure they have appropriate insurance to mitigate them effectively.

In addition, we have updated the Historical Rate Index Charts for key lines of coverage. These charts offer a comprehensive perspective on the trajectory of rates from 2018 to the present day.

About USI Insurance Services

USI is one of the largest insurance brokerage and consulting firms in the world, delivering property and casualty, employee benefits, personal risk, program and retirement solutions to large risk management clients, middle market companies, smaller firms and individuals. Headquartered in Valhalla, New York, USI connects over 10,000 industry-leading professionals across approximately 200 offices to serve clients’ local, national and international needs. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and expertise, and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information, visit or follow us on LinkedIn, Facebook, or Twitter.

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