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May 26, 2020


The following are key takeaways from The Council of Insurance Agents & Brokers’ Commercial Property/Casualty Market Report Q1 2020 (January 1 – March 31):

  • The Market continued to harden in Q1 2020, with premiums increasing by an average of 9.3% across allsized accounts. Large and medium-sized accounts were hardest hit, recording average increases of 12.6% and 9.8%, respectively, while small accounts experienced an average increase of 5.5%. This marks the 10th consecutive quarter of increased premium pricing across all-sized accounts.
  • All major lines except for Workers’ Compensation experienced moderate-to-significant increases in Q1 2020. Commercial Property and Umbrella premiums increased the most in Q1 2020, at 12.0% and 17.3%, respectively. Though Workers’ Compensation recorded a decrease in premiums of -1.2%, the trend of decreasing premiums for this particular line has moderated noticeably since a year ago.
  • While premium pricing for Commercial Auto continued to increase in Q1 2020, at 9.6% and for the 35th consecutive quarter, only 22% of respondents reported an increase in claims, down from 65% from the previous quarter. It is worth noting that many states instituted statewide lockdowns in March leading to fewer drivers on the road.
  • COVID-19 also impacted the market in the latter half of March, according to respondents. Seventy-five (75%) percent of respondents noted an increase in Business Interruption claims in Q1 2020, compared to just 18% in Q4 2019, and 47% of respondents noted an increase in demand for that coverage, versus 18% in Q4 2019.
  • COVID-19 also appeared in responses concerning broker challenges and priorities, describing a need for finding a way to drive and sustain organic growth during and after the crisis. Those that selected the “other” option for this question all said one of their top priorities (and challenges) was surviving COVID-19.

Click here to download the full Commercial Property/Casualty Market Report Q1 2020.

Click here to download the Q1 2020 COVID-19 Supplement.

The Council relies on data from broker members to create this report. To participate in future surveys or for questions/comments, please contact The Council’s Rob Boyce at