In recent years, we have seen many unpredictable events impacting businesses, individuals, and the insurance industry. From economic turmoil and shifting workforce dynamics to extreme weather events and geopolitical unrest, it is crucial to plan for the unplanned.
Over the past few years, some market segments and industries have been struggling with hardened conditions due to continued underwriting losses. As a result, carrier capacity has diminished, insurers have been retracting from riskier markets, premiums are higher, and underwriting scrutiny is heightened.
The private client insurance market has long been characterized by its exclusivity and care for high-value coverage for valuable assets like homes, automobiles, art, collectibles, and more. However, in recent years, the private client insurance market has faced one of the tightest markets in history.
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