State of the Market 2024 Outlook
In 2023, various forces shaped insurance and employee benefits markets in a state of transition, presenting both challenges and opportunities for insurance companies, businesses, and individuals alike.
So, what is the insurance market signaling at the start of 2024?
January 1st reinsurance renewals certainly lend some perspective, with a more orderly renewal season being a welcome change from 2023. This year’s renewals are indicative of improved capacity, greater predictability, and a shift to stabilization. Familiar forces, such as weather events, the economy, geopolitical dynamics, and emergent technologies, will also continue to shape a shifting insurance terrain.
What one can always expect from the insurance market is that it will course correct and respond to the global realities that impact all of us in ways that affect the availability and pricing of coverage.
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