Business line focus

E&S property gets harder again amid capacity freeze

Uncertainty over Hurricane Ian losses and a capacity crunch in reinsurance has temporarily plunged the E&S property market into a frozen state ahead of an anticipated rapid re-hardening that will be sustained through 2023 and beyond.

RT’s Slivka: Environmental carriers tightening coverage rather than rates

Environmental insurance underwriters are responding to market challenges by tightening coverage rather than raising rates, with pricing in the sector broadly maintaining the downward trajectory it has been on for what is now close to three decades, according to RT Specialty’s Jeff Slivka.

RPS: Cyber carriers taking increasingly divergent approaches

Cyber carriers this year are using “vastly different” tactics around rates and security requirements, while lower sublimits and more exclusions are increasingly making their way into policy wordings, according to a new report from wholesaler Risk Placement Services (RPS).

RPS: Insureds would benefit from entry of more XS workers’ comp writers to the market

Executives at wholesale intermediary Risk Placement Services (RPS) have said that while the workers’ compensation market is in transition, profits in the business line remain strong, but insureds could benefit from further entry of excess writers into the market.

Broker panel: D&O rate stabilisation expected in 2023 after “staggering” decreases this year

During a panel discussion held by Lloyd’s, executives from Marsh, RT Specialty and Acrisure suggested that the rapid swing to large pricing decreases in the US public D&O market this year will stabilise during 2023.

RT Specialty says geographic regions attracting underwriting scrutiny is expanding

Property capacity remains “adequate” but more markets are now required to complete tough catastrophe-exposed placements, while the number of geographical regions attracting tougher underwriting scrutiny is expanding, RT Specialty has detailed in a new report.

B&W: Cyber and property hard market conditions to continue over next 18 months

The cyber, coastal property and commercial property insurance markets are likely to remain hard in the next six to 18 months, according to the latest P&C Market Overview by Burns & Wilcox.