News - Tools & Intel | CRC Group
Stresses Ease in California Earthquake Market

Stresses Ease in California Earthquake Market

The stresses that had been building in the California earthquake market have begun to ease. The momentum of rate increases has slowed, although high-risk zones and older buildings remain challenging. Capacity has improved as carriers see a better risk-reward outlook after the significant rate increases of recent years. Higher deductibles are part of the changing landscape, due to pressure from carriers, but also as a means for buyers to manage premium costs. In an evolving market, working with a knowledgeable broker with broad access to markets and in-house modeling expertise can help buyers achieve better results.

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Claims Preparation & Guidelines

Claims Preparation & Guidelines

PLACING YOU FIRST BEFORE, DURING AND AFTER THE STORM. CRC group is here to help with all of your claims and policy servicing issues as a result of catastrophes, including helping clients prepare for a potential claims situation.

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Property Rates Rise as Carriers Retrench and Prepare for the Changing Market

Property Rates Rise as Carriers Retrench and Prepare for the Changing Market

The term catastrophe became a part of everyday life this year as the global coronavirus pandemic spread across the country. With spring also came the "normal" catastrophes, including a spate of deadly thunderstorms and tornados. This was followed by an early start to a hurricane season that kept setting records through the summer, and a disastrous wildfire season for which the full scope of damages will not be known for some time.

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Earthquake Market Turns Unstable

Earthquake Market Turns Unstable

The earthquake market has moved onto unstable ground as insurers and alternative capital investors demand higher returns on their capital. Rate increases have ramped up over the last year, and buyers should expect higher prices this year for the same coverage. Higher deductibles can be an effective strategy to manage premiums. Buyers who can provide better and more detailed information on their risks can expect a better reception from underwriters. Early and active marketing and working with a broker that offers broad access to markets are crucial for obtaining the most cost-efficient coverage.

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Parametric Insurance Begins to Make an Impact

Parametric Insurance Begins to Make an Impact

Parametric insurance has made its biggest impact so far with catastrophe bonds covering large-scale risks, such as hurricanes and earthquakes, but the concept is becoming more common in commercial and residential insurance. It’s called parametric because rather than responding to a specific loss, the coverage pays out when an agreed “metric” such as wind speed or ground shaking reaches or exceeds certain intensity. Insurers are offering such coverage based on a wide variety of other metrics, including barometric pressure, rainfall, average snowfall, river water levels, storm surge as measured by tide gauges and even hotel occupancy rates.

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State of the Market at a Glance | Casualty, Property, ExecPro, Personal Lines, Construction
State of the Market at a Glance | Casualty, Property, ExecPro, Personal Lines, Construction
Partnering With a PEO? Watch Out for EPL Coverage Gaps
Partnering With a PEO? Watch Out for EPL Coverage Gaps
Claims Litigation Comes Back to the New Legal Normal
Claims Litigation Comes Back to the New Legal Normal
Property Deductible Solutions to Save Money and Meet Lender Requirements
Property Deductible Solutions to Save Money and Meet Lender Requirements
Russia’s Invasion of Ukraine Has Consequences for Shipping Clients
Russia’s Invasion of Ukraine Has Consequences for Shipping Clients
Excess Liability: Do Follow-Form Policies Really Follow Form?
Excess Liability: Do Follow-Form Policies Really Follow Form?
Florida Market Still Reeling from Surfside Condo Collapse
Florida Market Still Reeling from Surfside Condo Collapse
Private Flood Market Offers Growing Opportunity
Private Flood Market Offers Growing Opportunity
Rapid Growth of TPLF Impacts Insurance Affordability
Rapid Growth of TPLF Impacts Insurance Affordability
2022 State of the Insurance Market
2022 State of the Insurance Market
Private D&O REDY Index December 2021
Private D&O REDY Index December 2021
Cyber REDY® Index December 2021
Cyber REDY® Index December 2021