Our recommendations
01
Start renewal planning early.
Assess market conditions well in advance of renewal to anticipate challenges.
02
Reassess risk appetite and retentions.
Given evolving market and economic conditions — and higher attachment points and stricter terms imposed by insurers — buyers should reevaluate their risk tolerance and consider adjusting retentions or s elf-insured layers to optimize cost efficiency.
03
Highlight risk management and loss prevention measures in underwriting submissions.
Insurers are becoming increasingly selective, favoring buyers that differentiate themselves through strong safety protocols, claims management, and legal defense strategies.
04
Leverage claims data and analytics.
Buyers with robust claims data and strong loss modeling capabilities are in a better position to negotiate structure, pricing, and terms. AI-driven insights can also help buyers predict social inflation trends, nuclear verdict risk, and emerging exposures.
05
Take a global approach to marketing insurance programs.
Strategically accessing domestic and international carriers, including Lloyd’s syndicates and Bermuda-based reinsurers, can help unlock capacity and improve terms.
06
Revisit policy language and coverage terms.
Buyers should thoroughly review exclusions, loss triggers, and policy definitions to avoid unintended gaps in coverage. Insurers may also be open to reconsidering restrictions imposed during past hard markets. Buyers should also periodically reassess carving out certain coverage from standard liability policies and building standalone programs for more volatile and higher-profile exposures.
07
Monitor legislative, regulatory, and judicial trends.
Staying abreast of federal and state activity around sensitive topics, such as diversity, equity, and inclusion and tort reform can help buyers anticipate risks and adjust coverage limits.
08
Explore alternative risk options.
Captives, risk retention groups, parametric solutions, and more may offer more efficient ways to deploy capital and mitigate critical risks.
