Market Insights from Kapnick Insurance
The past few years have been challenging for both businesses and the insurance industry. The increased frequency and severity of claims, social inflation, the COVID-19 pandemic, medical inflation, trends in cybercrime, the cost of reinsurance, natural disasters and investment returns have all fundamentally reshaped the insurance market as we know it.
While challenging market conditions remain, there are some positive indicators for businesses. In the second half of 2021, the scale of rate increases decelerated. While insurance prices are still above their historical averages, we expect to see a continual softening of the insurance market for many lines.
Going into 2022, we expect a less challenging insurance environment than we saw in 2021 for many insurance buyers. Now more than ever, it’s essential for businesses to take a proactive approach to bolstering their risk management efforts and securing adequate insurance coverage.
Learn more about the current market by reading our 2022 Market Forecast below and find out how Kapnick can help:
Check out our industry-specific market trend reports for what’s happening in the Real Estate, Construction, Food & Agribusiness, Towing & Transport, and Manufacturing markets—plus, learn how Kapnick can help you navigate through all of it.
Click on the logos to read the Market Trend Report: