Commercial property policyholders can expect upward pressure on rates and restrictive terms and conditions to continue through 2021, though there are some early signs that the market may be moderating, brokers say.
However, risk managers say they have yet to see any easing in the hard market.
Jan. 1 renewals saw ongoing price increases for property accounts, but the magnitude of increases varied, depending on individual account experience and loss history, brokers say.