Market Insights
Stay informed on emerging issues and trends in the insurance industry.
Tort Reform Picks Up Steam in the Southeast
Once considered too controversial to take on, tort reform has become a focal point in state legislatures across the U.S. This growing interest can be attributed to mounting concerns over the economic impact of litigation on both businesses and the broader economy. Here’s how some states in the Southeast are grappling with the challenge of balancing a legal environment conducive to economic growth while still holding the appropriate parties accountable for wrongdoing.
State of the Market: A Focus on the Environmental Insurance Market
The environmental insurance market remains stable, with a broad range of carriers actively competing in the space. The presence of new entrants continues to exert downward pressure on rates. For primary casualty lines, pricing generally ranges from flat to 10% increases, depending on the nature and size of the insured’s operations and location. Excess (XS) pricing trends similarly, except when XS auto coverage is included, where pricing can vary significantly based on operations, fleet size and composition, as well as venue.
