The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data- driven expectations with their clients. Removing the guesswork empowers CRC team members to negotiate competitively, consistently producing better outcomes, better deliverables, and better results.
EXCESS & UMBRELLA REDY INDEX - JUNE 2021
MONTHLY RENEWAL RATE ANALYSIS
Results displayed above reflect average CRC Group excess and umbrella liability renewal pricing changes by month (over the previous 13 months). Results are limited to brokerage accounts that renewed in the same month as the prior year with the same total account limits. To remove outliers, the top and bottom 1% of accounts by YoY % change have been removed, as well as the top and bottom 1% of accounts by rate on line (Premium/Limit*100). The REDY Index is intended for educational purposes only as individual accounts typically differ from average pricing trends.
ONGOING EXCESS & UMBRELLA ISSUES
- New carriers are entering the space and aim to take advantage of the disruption in the excess marketplace. Several new carriers have been announced, though most new entrants are still in formation or just getting started.
- Difficult classes for excess include high hazard products, transportation-related accounts, habitational and hotels, New York construction, and any risk with sub-par loss experience.
- Excess losses are still escalating due to social inflation; the self-reinforcing trend of higher verdicts leads to higher expectations for awards and higher settlements. Litigation funding is gaining momentum as investors look to profit from this judicial climate.