The second quarter of 2020 marks the 11th straight quarter of insurance rate increases. When will we stop counting the number of consecutive quarters of rising insurance costs? Unfortunately, not as soon as we would all like, based on current indicators. Organizations are under enormous pressure to manage evolving risks, anticipate emerging trends, and find reprieve from one of the toughest insurance markets experienced in decades. Moreover, this is the first full quarter of results in the shadow of COVID-19, so we are just starting to see how market uncertainty is playing out.
While the landscape may look forbidding, Marsh & McLennan Agency continues to monitor the market closely, seeking to provide insight, uncover opportunities, and problem solve for our clients for the weeks, months, and years ahead.