I’m not sure if you noticed, but prices went up in 2022. After decades of low inflation, the dams burst last year—and the United States experienced the highest inflation since the Carter Administration. In order to combat this historic inflation, the U.S. Federal...
Hard market refers to a high demand for insurance and a decreased desire to insure. A soft market marks the opposite, when the demand for insurance coverage and competition in the market is minimal. The COVID-19 pandemic caused global economic hardship. The U.S. is...
The insurance industry is comprised of cycles. Hard-market cycles happen to course correct when rates are inadequate, when there are recessions and economic turnarounds, or when unforeseen events occur, such as the COVID-19 pandemic. However, even though the hardening...