The Professional Insurance Agents of Connecticut, New Hampshire, New Jersey and New York State released the findings of its annual Market Trends Survey. About 200 agents responded to the survey, now in its fourth year.
Producers were asked if their clients are experiencing increases or decreases on various lines of business (Personal Auto, Homeowners, Commercial Property and Commercial Liability) and whether their carriers' underwriting guidelines are tightening or relaxing. Key findings include:
Underwriting guidelines and changes. When asked, "To what extent are underwriting guidelines becoming more strict," 32% of respondents indicated a "moderate change" in the underwriting approach to Homeowners, reflecting a downward shift from 34% in 2015.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
