Resources & Insights

State of the Commercial Insurance Market: 2021 Report and Forecast

March 9, 2021

Business insurance premiums rose once again in late 2019, climbing an average of 7.5%, according to a survey by the Council of Insurance Agents and Brokers.At CCIG, a question we are often asked by our clients over the past 18 months is “Why do my rates continue to increase?” The short answer is, all industry segments are cyclical in nature and experience expansion and contraction. The insurance industry is no different. While no two cycles are the same, they are similar in nature and resemble a rollercoaster marked with peaks and valleys. Many key outcomes described in this report are the result of socioeconomic conditions that are out of any individual policyholder’s control.

However, we believe that having the right insurance broker can make a meaningful difference in not only the cost of your insurance, but ensuring you have the proper coverage. CCIG provides consistency for clients regardless of where we are on the rollercoaster as shown in The Commercial Insurance Market: 2021 Report and Forecast you can download below.

Click to download the report



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