Risk Managers at Renewal: Steady as She Goes

A new year is upon us, which means many risk managers and their brokers have the negotiation of rates at renewal on their minds. If the sentiment expressed this time last year was that “flat is the new ‘win,’” things look to turn out similarly this time around, with a few key exceptions—and a few trends to keep in mind as the year unfolds.

Gary Pearce, vice president of the Risk Management Group for workforce and staffing solutions firm Kelly Services Inc., Troy, Mich., noted that the company’s primary casualty coverage is a Jan. 1 renewal. Speaking to NU in early December, he expected to renew at unchanged rates after enjoying a “significant” rate reduction in 2014. Pearce did not identify any notable changes in the terms and conditions of the company’s policies this time around.