In the Commercial Risk State of the Market Report, we discuss the challenges and trends impacting businesses, individuals, and the insurance industry, and explore emerging trends and risks while highlighting strategies and solutions that can help you mitigate risk and achieve your goals. In the commercial risk space, some market segments and industries are still seeing hardened conditions as a result of continued underwriting losses.
This means that carrier capacity is diminished, insurers are retracting from riskier markets, premiums are higher, and underwriting scrutiny is heightened. Fortunately, other market segments have begun to soften, with rate increases still present but moderating. Through 2023, it is likely that insurance carriers will remain disciplined in the underwriting process for all markets.
No matter what the current state of the market may be, BRP’s Advisor and Client Experience teams are focused on delivering the best results for your risk profile and operational DNA. Though a challenging insurance market and economy highlight the importance of working with the right broker, a strong broker relationship provides benefits that are valuable for you at any given time. Our Commercial Risk, Employee Benefits, and Private Risk advisors come to you with specialized expertise in both insurance and a wide array of industries and are here to provide personalized, innovative, and sound recommendations that can help you transform challenges into opportunities.
Connect with a BKS Partners Commerical Risk Advisor to ensure your coverage is adequately protecting your business.
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