After sustained periods of volatility driven by technological advancements, evolving cyber risks, environmental, social and governance (ESG) developments, and litigation shifts, the directors and officers liability (D&O) insurance market has moderated in recent years. Since 2022, the sector has softened, characterized by abundant capacity, competitive pricing and declining premiums. This trend continued in 2024, and favorable conditions were largely spurred on by new entrants to the D&O market, increasing competition. According to industry sources, the…

Despite an ever-evolving threat landscape, growing attacker sophistication, and frequent and severe cyberattacks, the cyber insurance segment softened in 2024. Most policyholders encountered modest, single-digit rate increases. This market improvement was driven by several factors, including increased competition among carriers, a surplus of capacity and a steadfast focus on cyber hygiene among insureds (i.e., fewer claims mean lower loss ratios). Rate improvement was particularly noticeable among accounts that could demonstrate year-over-year improvement in their cyber…

In 2024, the workers’ compensation insurance segment experienced another year of strong performance, continuing a decade-long profitability trend for insurers. Overall, workers’ compensation insurance has been a bright spot in recent years during an otherwise challenging market across various lines of insurance. New market entrants and fierce competition have led to years of declining rates for insureds. Further, stable loss trends and healthy reserves—around $18 billion—have supported underwriting profitability. However, several emerging trends may indicate…

For much of the past decade, the commercial auto insurance market has been especially challenging for both insurers and insureds, characterized by significant underwriting losses, plummeting profitability and continued rate hikes. In 2024, commercial auto insurance premiums had some of the highest increases across all lines of insurance, with average increases between 9% and 9.8% in the first two quarters of the year. What’s more, as of 2024, insurers have experienced combined loss ratios above…

Following years of rising claim frequency and severity, as well as poor underwriting results, the general liability insurance market showed signs of improvement in 2024. Rate increases for general liability customers moderated, and many insureds saw premium hikes below 10%—a vast improvement over the double-digit rate increases from previous years. For most policyholders, price increases in 2024 remained in the 4%-5% range. However, like other segments in the commercial insurance space, hard market conditions are…

In recent years, the commercial property insurance market has been characterized by rising premiums and years of double-digit rate increases. 2023 was one of the more challenging years on record, and the segment saw average rate hikes above 20% for the first time in more than 20 years. Moving into 2025, the market appears to be stabilizing, and most renewals with favorable loss histories will see single-digit rate increases; non-catastrophe (CAT) exposed assets with good…