Rate hikes moderate as market recapitalizes after 2017 catastrophes

The rate increases that followed last year’s catastrophes are beginning to moderate, says Willis Towers Watson P.L.C. in a report issued Thursday.

Between hurricanes Harvey, Irma and Maria and the California wildfires, “the latter half of 2017 brought record-breaking losses in the market,” says the report, Insurance Marketplace Realities Overview, 2018 Spring Update.

Property rates rose in response, “steeply for buyers with catastrophe exposures and losses, but no insolvencies resulted. The rate increases are already beginning to moderate, with some decrease again becoming possible for better risks,” the report said, pointing to the…

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