Navigating the Current State of (Re)Insurance Renewals
Political and social unrest, financial market conditions, social inflation, weather events, and wildfires are factors we were already dealing with. COVID-19 is magnifying the complexity and impact on the P&C insurance industry. We are seeing increased loss frequency and severity, resulting in reduced profitability and capacity, rising premiums, and complexity of exclusions. Tough conversations are underway to define coverage strategies at a reasonable cost and to deal with underwriting scrutiny.
During this webinar our panel held an interactive discussion of the impact these factors are having on the P&C insurance industry. Viewers gained an understanding of: general retail and reinsurance environment; coverage, pricing, legislative, and renewal challenges for P&C insurers; feature restrictions and condition changes; captive insurance; and renewal tips.