Property Insurance’s Storm: Expert Insights
In the Q2 edition of the Property Insurance Power Panel, experts from Gallagher and EPIC Insurance Brokers shared their insights on navigating the challenges in the property insurance sector. The discussion centered around reinsurance costs and strategies for preparing accounts in regions with significant natural catastrophe footprints. They also examined market capacity and the growing role of technology in claims assessment.
The panel tackled several key questions facing the industry, including:
- The growth prospects of different insurance lines
- The impact of AI in cyber insurance
- Challenges in wholesale broking
- Conditions in workers’ compensation
- Capacity in construction insurance
- Needed changes in the insurance sector
- Stability of the property insurance market
- Expected changes in the reinsurance market
- Risks associated with healthcare providers going digital
Key Industry Topics
The experts discussed various critical issues shaping the property insurance landscape. They explored the current state of the reinsurance market and its potential changes this year. The conversation also covered the evolving environmental insurance sector and the importance of diversity, equity, and inclusion (DE&I) in insurance.
The panel provided valuable insights into the complex world of property insurance, offering guidance on navigating the challenges posed by natural catastrophes, reinsurance costs, and technological advancements. Their discussion highlighted the need for industry professionals to stay informed about market trends and emerging risks.
As the insurance landscape continues to evolve, industry leaders must adapt to changing conditions. The Property Insurance Power Panel’s discussion provided a valuable snapshot of the current state of the industry and potential future developments.
