Editor's Note: This article is part of a four-part series from Zurich North America and focuses on the current and historical trends in general liability lines. Other articles will focus on workers' compensation and property, while the first installment reviewed commercial auto insurance.
In my initial trends in commercial insurance article, I explored six societal trends influencing the rate environment for commercial automobile insurance. An evolving liability environment is continuing to challenge the profitability of the auto line and is driving rate increases.
As you might expect, auto is not the only category of commercial insurance being challenged by our changing society. Liability lines have seen a steady upward trend in calendar-year loss ratios over the past several years, necessitating rate increases by liability underwriters. Looking ahead, the property & casualty insurance industry may experience additional stress on general liability results due to a variety of potential headwinds over the next 12-18 months and beyond.
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