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What to expect from property catastrophe insurance pricing in 2014
ZedZap / Foter.com / CC BY-NC-SA
As detailed in our last State of the Market report, the end of 2013 brought downward pricing trends in the property catastrophe insurance market. Now that the calendar has turned to 2014, we’re looking closely at the year ahead. Our executive vice president Bob Marsh shared his predictions with me:
  • Some markets will resist the call for lower rates—especially on CAT-driven accounts
  • By avoiding these markets or bringing in new capacity—especially primary— rate reductions of 5 to 25 percent might be realized.
  • Reductions may be partially based on the rate magnitude and rate history in the current pricing.
Of course, we don’t have a crystal ball and many factors could affect rates and pricing in the months ahead. What do you think the property catastrophe market will look like for the remainder of 2014? Let us know in the comments or tweet us at @NAPCOLLC.
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Samantha Kimball
Other articles by: Samantha Kimball
Categories: state of the market
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