PGI Commercial Lines

 Rate increases are expected in almost every line of business. READ ARTICLE "Cyber insurance rates are expected to increase by 10% to 30%, while general liability rates are expected to increase by 7.5% to 15%." What makes a hard market? A hard market may also be referred to as market tightening. This is because insurance availability, usually of a particular line, becomes more difficult to obtain and often may be more expensive. This typically happens in the commercial property and casualty markets as a result of catastrophic losses, large jury verdicts, or other factors affecting the profitability of insurers and reinsurers.

This article from P&C 360 is a good read and explains the trends related to Commercial Property rate increases expected in 2021. Read Article Note - P&C 360 requires a subscription, but it's free and highly recommended!

 CARRIER UPDATE State Auto is now writing Workers Compensation in several states. Arizona Illinois North Carolina Pennsylvania Texas West Virginia Think of State Auto for a  total account solution  in these states! Contact JC Ibanez for more information! State Auto Workers Compensation Brochure