Hard market conditions intensify in commercial property amid new capacity dearth
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Hard market conditions intensify in commercial property amid new capacity dearth

Kyoung-son Song
01 June 2023
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Hard market conditions of rate hikes coupled with tightening terms have intensified for June 1 renewals in commercial property, as carriers prevail in a “seller’s market” where new capacity remains scarce, sources told this publication.

Even clean accounts in the admitted space are seeing rate increases of 15% year on year, while loss-hit accounts in Florida were slapped with a 100% rate increase for June 1.

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Kyoung-son Song
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