The July 4th Holiday is now behind us and we march towards the conclusion of another summer. I hope this finds you well and that you are finding the time to relax and spend time with family and friends.
The hectic July 1st renewal cycle is also in the rear view mirror. Seemingly, property rate increases have started to moderate. However, the market remains challenged partially due to supply chain disruptions, shortage of workers, material cost increases, etc. All of these factors serve to increase replacement cost values which ultimately run up the cost of insurance.
The cyber insurance market remains very hard with no sign of abatement on the horizon. Carriers are responding by increasing premiums, increasing retentions, and reducing capacity. Market place conditions coupled with hyperinflation, rising interest rates and political and social unrest all contribute to what is likely to be a bumpy ride for the insurance industry for the foreseeable future.
Despite it all, Alliant remains poised to assist you in meeting all of your risk management challenges.
Please call on us if we can be of help.
Regards,
Mark A. Goode and Dan Howell