Author: Steve Kahl,Beth Berger
As we reach the midpoint of 2021, the market remains very challenging and is pretty similar to 2020. While there is optimism toward some moderation in premium increases, it has yet to be widely seen in year-to-date 2021 renewals. Across the healthcare industry, renewal premium increases for many organizations have been upwards of 20 percent, which was unsettling for many after an already difficult year. What has made this market even more troubling is that there is no one single event to point to as the cause. Instead, a confluence of factors have challenged the industry, including social inflation, increased storm activity and pandemic losses. Additionally, carriers' ability to offset these results through investment income remains a challenge due to the lower interest rate environment.
In this report we will analyze the market conditions within each major line of coverage and offer guidance to help you ensure a successful renewal outcome.
