KANSAS CITY, Mo., Dec. 13 2016 /PRNewswire/ -- A new update from insurance broker Lockton shows it's still a buyer's market in commercial insurance. Major changes have created strong competition, ample capacity and lower prices during the past several years.
Lockton's December 2016 P&C Market Update shows that the competitive landscape continues, as does a soft market. Merger and acquisitions, restructuring, management consolidation and geographic expansion are all factors in the current environment.
"In the last quarter, we've seen an overall rate decline for most property and casualty coverages," said Mark Moitoso, National Analytics Practice Leader. "Strong underwriting profits combined with a well-capitalized marketplace are driving the past few years of price declines."
Click here to view Mark's video.
This Market Update also highlights the latest information on:
Workers' Compensation: Premiums Fall as Losses Drop
Terrorism: Stand-Alone Terrorism Insurance Fills the 9/11 Gap
Financial Services: D&O Liability Insurance Policies Evolving
Cyber: Two October Cyber Attacks Rattle Industry
Surety: Improving Economy Builds Surety Competition
Construction: Pending Subcontractor Losses Raise Red Flag
Real Estate: Hurricane Matthew Didn't Measure Up, so Real Estate Rates Stay Down
Healthcare: On High Alert
Environmental: Bedbugs Create Buzz in Environmental Insurance
The free Lockton Market Update is published quarterly.
More than 6,000 professionals at Lockton provide 50,000 clients around the world with risk management, insurance, employee benefits consulting, and retirement services that improve their businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held, independent insurance broker in the world and 9th largest overall. For eight consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance."
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