A decade of declining rates ends as medical inflation, litigation costs and reserve pressures reshape the industry landscape nationwide, Risk Placement Services reports.
Analysis of historical data suggests the 43-day funding lapse will cause only temporary disruptions rather than lasting damage to GDP or workers’ compensation trend.
Despite steady reserve declines over a decade, concentrated asbestos losses among major insurers are pressuring the industry’s $146 billion ultimate A&E exposure, AM Best reports.
Insurance customers show openness to artificial intelligence but nearly 70% believe insurers gain far more from the technology than they do, according to a J.D. Power survey.
Despite social inflation pressures and casualty line struggles, robust investment income and disciplined underwriting support stable outlook for sector: AM Best.
Health care sees some segments softening while segments with vulnerable populations, claims severity face sharp rate increases and capacity constraints, Amwins report.
NCCI data reveals that costs for critical care services now exceed inflation benchmarks, with expenses for severe injuries accounting for more than one-quarter of total medical spending.