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May 10, 2024

Matthew Wright contributes an article to PropertyCasualty360

Storms, flooding, hail, and freezing temperatures are putting more assets in harm’s way than ever before. Despite these challenges, the commercial property market shows signs of increased stability for the first time in six years. With stability comes growth, and with growth comes increasing demand for broader coverage and increased limits. Still, insurers aren’t looking to start spending more money and are taking a more conservative “wait and see” approach until a new norm emerges.

Executive vice president and head of property and cargo risk at Marsh McLennan Agency, Matthew Wright, contributed an article to PropertyCasualty360 about what this new normal looks like and how it will affect organizations.

“The spring of 2024 marks a turning point in the commercial property insurance market. After six years of challenging conditions, the market has transitioned and many buyers are now in a more favorable position,” writes Matthew.

Read the full article in PropertyCasualty360.