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Commercial Liability Insurance Rises Slower: USI



Commercial real estate insurance markets have stabilized and commercial liability insurance prices are rising more slowly, according to USI Insurance Services Inc.

Valhalla, New York-based USI said on Tuesday that non-disaster-exposed real estate accounts with good loss history, end of 2021 to unchanged at up to 10%, will move to renewing 5% to up 5% in the first half of 2021.

The broker said that although real estate markets are still volatile, buyers and policyholders are differentiated according to risk . "We see the market stabilizing overall – and this benefits commercial insurance buyers who maintain quality risks with strong data to back them up." first half of the year "with a growing number of policyholders seeing unchanged at 5% increases as the year progresses," USI said.

However, surpluses and umbrella coverage continue to be "negatively impacted" and capacity is selectively distributed. Interest rates are expected to rise by 1

0% to 35% or more during the first half of the year, with smaller increases of 5% to 15% in the intermediate market.

Cyber ​​coverage is expected to increase sharply, 40% to 50% for optimal risks and 50% to 100% or more for less-than-optimal risks, as "ransomware attacks continued to plague the cyber-insurance market in the second half of 2021."

to up to 10%.

Workers' compensation lines have not been hit as hard by covid-19-related claims and are expected to decrease by 5% to up to 5% for guaranteed cost and flat to up to 5% for loss-sensitive insurance coverage.

"While we continue to see cost increases in certain coverage areas, the overall stabilization and improved capacity in the insurance market are reasons for optimism, " USI said, adding, "we expect prices to level out or even decrease for some coverage lines by 2022."

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