Throughout 2023, the commercial insurance space became an increasingly complex environment. Mirroring other areas of the economy, the sector encountered continued volatility within the past year. Shifting market dynamics, new capacity, and optimal underwriting results in some lines of coverage set the stage for improved conditions and premium deceleration. On the other hand, headwinds facing…
A Shifting Market Since 2019, the commercial insurance sector has been grappling with a hard marketplace that is notably less friendly to insurance buyers. Such challenging conditions were brought on by a confluence of factors that led insurance companies to reevaluate their positions in the industry. After all, the increased frequency and severity of claims,…
Under most state workers’ compensation (WC) laws, COVID-19 may be a compensable, work-related condition only if an employee can show that: He or she contracted coronavirus while performing services growing out of and incidental to their employment; and The disease arose out of that employment (work-relatedness). As of June 30, 2020, however, several states…