Pacific insurance rates

Property rates stabilize

Property insurance rates were flat for the second consecutive quarter, following 26 quarters of increases.

• Insurers were actively seeking new opportunities.
• Clients with risk improvements or histories with no or limited losses typically experienced better outcomes.
• Long term agreements (LTAs) were offered to some organizations, generally with reductions in year two.
• Organizations with histories of significant losses and large natural catastrophe exposures generally saw greater increases, as did those facing certain macro issues, such as those related to environmental, social, and governance (ESG).