Insurance Insights: COVID-19 Effect
on the Property-Casualty Sector
The Covid-19 pandemic impact will likely mean reduced premium growth across the property and casualty insurance sector, but the economic slowdown will also likely slow the drivers of loss frequency in most lines. Business interruption and event cancellation lines are among those most at risk, particularly if regulatory mandates emerge to override standard policy exclusions.
Conning expects declines in the industry’s investment portfolios and economic surplus and sees threats to the continuation of positive commercial lines rate momentum, with the reduction in capital and need for rate increases offset by weaker economic conditions.
Conning’s Insurance Research team has completed a comprehensive analysis of the pandemic’s impact on the property/casualty industry, as well as life/annuity and health insurance providers. An overview of the team’s entire industry finding is also available.
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