U.S. Casualty Market Outlook: Mid-Year 2021
2020 saw the most challenging and erratic Casualty market in 30 years, marked by dramatic rate increases, vacated capacity and coverage non-renewals, particularly in the Umbrella/Excess market. Although not as painful as last year, the Excess market in 2021 remains unpredictable and rates continue to firm.
Rate increases, however, are not as dramatic as last year, currently averaging 15%-25%, versus 30% or more in 2020 for high-hazard segments such as Sexual Abuse and Molestation, Assault and Battery and Cyber.