P&C

The Results Are In: Commercial P/C Market Survey Q4 2020

Get the highlights of The Council’s latest survey in under 90 seconds.
By Zach West Posted on February 17, 2021

  • Q4 2020 was the 13th consecutive quarter of increased premiums, with respondents reporting an average increase of 10.7% across all-sized accounts. Segmenting out the data by account size, premiums increased the most for large accounts, at 13.7%, followed by medium accounts at 11.7%. Premiums for small accounts again saw a smaller average increase in Q4 2020, at 6.7%, compared to 7.1% in Q3 and 7.3% in Q2.
  • Q4 2020 was also the 3rd consecutive quarter in which premiums increased for all lines, including Workers Compensation. Across all lines the average premium increase was 10.2% in Q4 2020, compared to 11.3% in Q3. Looked at individually, Umbrella recorded the highest premium increase, at 21.3%, followed by D&O Liability at 14.7% and Commercial Property at 12.9%.
  • Underwriting capacity continued to contract for the most troubled lines. Nearly 90% of respondents reported a decrease in capacity for Umbrella, with more than half of those declaring the decrease “significant.”
  • Respondents indicated that the COVID-19 pandemic’s impact was still being felt in Q4 2020. Most respondents said the pandemic impacted pricing, availability of coverage, renewals and underwriting trends.

Click here for the Q4 2020 P/C Market Report.

Click here for the Q4 2020 COVID-19 Supplement.

Zach West Content Associate Read More

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