- Cat Losses in the Hundreds of Billions of Dollars in 2017
- Some Lines of Insurance Already Showing Premium Increases
- Captive Insurance Can Play an Important Role in Risk Financing
BURLINGTON, VERMONT (NOVEMBER 28, 2017) – For years now, industry experts have predicted an end to the soft market that would result in an increase in the price of commercial insurance. In 2018, they may finally be right.
“Billion-dollar catastrophic losses due to windstorms, floods and other natural disasters may be the catalyst to a hardening market, but they are not the only reason we may see premiums increase,” says JLT Insurance Management (USA) LLC Executive Vice President and Captive Consulting Practice Leader Anne Marie Towle. “Premiums always rise and fall over time, as insurers’ investment profits slow and claims rise.
“If the market does harden in 2018, expect not only increased premiums in certain lines, but eventually the potential for reduced capacity,” she says. “It makes sense then to prepare your organization for the worst and hope for the best when planning ahead. Captive insurance can become an important component of any risk plan.”
Contact us to learn more about how we can assist you with all of your risk management and risk financing efforts.
Anne Marie Towle
Tel: +1 317 922 4390
Tel: +1 802 391 3081
NOTES TO EDITORS:
About JLT Insurance Management (USA) LLC
JLTIM USA is an independent, full-service captive insurance management and captive consulting company with a multi-domicile reach. JLTIM USA is a part of Jardine Lloyd Thompson Group.
About Jardine Lloyd Thompson
Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 40 territories with more than 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
For further information about JLT, please visit our website www.jlt.com.