Summary
The Commercial Property insurance market remains challenging with rate increases in the double digits due to billion-dollar weather and climate disasters, high inflation, and rising claim costs. Accurate property values continue to be a front-and-center issue for underwriters. The Commercial Auto insurance market is also challenged as a result of higher repair costs and rising claims severity from inflation as well as growing litigation exposure.
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Insurance products and services offered through McGriff Insurance Services, LLC, a subsidiary of Truist Insurance Holdings, LLC, are not a deposit, not FDIC insured, not guaranteed by a bank, not insured by any federal government agency and may go down in value.
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