By Zach West for Leader’s Edge
Premium pricing increases slowed; most lines saw some relief.
Premium pricing stabilized slightly in 2022, with slower increases for most lines compared to 2020 and 2021. The majority of lines recorded lower average increases at the end of 2022 compared to the beginning of the year.
Workers compensation was the only line that saw a decrease in 2022, with premiums, ending the year at -0.7%.
Despite the slowing of increases, respondents were clear that market conditions were still challenging in 2022, pointing to tight underwriting, increased scrutiny, and decreased carrier appetite.
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