An Innovative Approach to Commercial and Personal Insurance

Historically, risk management has been a key complement to insurance. But in today’s world of persistent inflation, widespread catastrophic losses from weather-related disasters, and nuclear verdicts in liability lawsuits, that relationship is flipped on its head. As Alera Group’s 2024 Property and Casualty Market Outlook makes clear, risk management is now the overarching objective, with P&C insurance an essential element.

Since its introduction in December 2020, Alera Group’s P&C Market Outlook has become a must-have resource for businesses and individuals seeking to control costs while protecting their physical, digital and monetary assets, as well as their people. Our fourth edition is an essential guide to the evolving Property and Casualty (P&C) Insurance landscape and a vital resource for crafting a comprehensive, cost-effective risk management program.

The benefit of being an informed consumer

Having a strong understanding of what to expect in the P&C marketplace, recognizing the forces driving the market and knowing what forms of protection are accessible enables you to manage the cost of risk. Here are the key questions insurance consumers need to ask:

1. What risks do I need to protect myself or my organization against?
2. What are my exposures to those risks, and how can I mitigate them?
3. What protection — including both traditional insurance and alternative forms of coverage — is available, and at what cost?

Amid challenging market conditions, organizations and individuals who take an analytical approach to these questions, actively engage in risk management and open themselves to alternative solutions are the ones who make insurance part of their plan for success, rather than just another costly expense.

Easy access to the info you need

Presented in sections organized by industry and by line of coverage, the Market Outlook makes it easy to find the information most relevant to you. You’ll also find an overview featuring capsule looks at:

• Availability (how widely offered a coverage is)
• Capacity (the amount of coverage available from a carrier or the market in general)
• Pricing
• Underwriting scrutiny
• Factors driving the market
• Strategies for navigating the market.

Inescapable conclusions

Alera Group’s 2024 Property and Casualty Market Outlook will help you see risks and opportunities you might otherwise overlook. Three conclusions are inescapable:

1. Achieving the best solutions requires access to the broadest possible market.
2. A favorable loss history, coupled with strong risk management policies and practices, broadens your appeal.
3. Working with a local broker who is plugged into a national network of colleagues and carriers is the best way to arrive at solutions that are optimal for you.

To learn more, download the 2024 Property and Casualty Market Outlook, and contact your local Alera Group agent.

GET THE MARKET OUTLOOK