Authors: Linton B. Puckett Mark Stachura
Buyers overall have faced a challenging insurance market since 2019 and that has continued through Q3 2022. It's likely that 2023 will resemble 2022 in many ways with some notable exceptions, namely Property, as carriers continue to focus on valuation issues (including Business Income) on all risks, and we expect a deterioration in market conditions on CAT property. You should be working with an insurance broker who understands the highly nuanced nature of the insurance market and specializes in your particular industry or line of coverage.
This report includes thought leadership from Gallagher's Market Relations team and focuses on general trends in the commercial property, casualty, umbrella, management liability and cyber insurance marketplaces.