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.
PROPERTY REDY® INDEX - January 2025
MONTHLY RENEWAL PRICING ANALYSIS
WHY YOUR RESULTS MAY DIFFER
The REDY Index shows pricing trends based on average property renewal premium on a broad range of accounts – in all 50 states, with varying loss histories, and a variety of perils and occupancies. Your results may differ substantially from the average shown above depending on these attributes and a particular account’s risk profile. 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 online (Premium/ Limit*100). The REDY Index is intended for educational purposes only.
ONGOING PROPERTY ISSUES
- In Q4 2024, the property insurance market reached equilibrium, driven by a multi-year push to address losses and return to profitability, alongside new capital entering the market. About 90% of clients saw no more than single-digit rate increases, with 55% receiving no increase or savings. This stabilization marks a shift from prior years’ volatility, signaling a market now focused on growth.
- The market is defined by growing optimism among capital providers. Established insurers and new entrants are pursuing growth, driving competition. This dynamic, coupled with stabilized rates, creates opportunities to secure better terms, enhanced coverage, and broader risk transfer solutions.
- While the market appears stable, its future is uncertain. Recent catastrophic events, like the California wildfires with insured losses possibly exceeding $10 billion, may not drive immediate pricing changes but will prompt (re)insurers to reassess tolerances for high-risk regions. Large CAT events early in a policy year warrant monitoring, as additional events in 2025 could disrupt the current equilibrium, prompting tighter underwriting and stricter terms.