It's estimated that the industry will need to hire about 650,000 more employees just to keep pace with the demand for new construction, according to the Associated Builders and Contractors association. (pressmaster/Adobe Stock) It's estimated that the industry will need to hire about 650,000 more employees just to keep pace with the demand for new construction, according to the Associated Builders and Contractors association. (pressmaster/Adobe Stock)

After more than two years of a turbulent P&C insurance market, mainly driven by rate increases and carrier-initiated displacement in the excess liability lines, the market has found more level ground. While there continued to be displacement in the first quarter of 2022, this time it came from brokers and insureds pushing to contain costs rather than carriers re-underwriting their books.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Commercial Lines
E&S/Specialty
Loss Control