PERSONAL INSURANCE UPDATES
MARKET OVERVIEW
The Personal Insurance market continues to evolve with shifting regional dynamics and the increasing frequency of climate-driven events. We are experiencing a “softening hard” market— especially in Florida and parts of the Southeast, where legislative reforms and a quieter hurricane season have improved conditions. However, one major CAT event could quickly change the market.
“No part of the U.S. is immune to catastrophe risk. From wildfires in Oregon to inland flooding in Iowa, weather related exposures are becoming more widespread and less predictable.”
Kate
Wright Associate Vice President, Senior Regional Practice Group Leader, Personal Insurance Burns & Wilcox, Indianapolis, Indiana
FLOOD RISKS
Standalone Flood coverage i needed—even in areas outsid flood zones.
Convective storms and shifti patterns are driving new cov conversations.
WILDFIRE RISKS
The California wildfires in ear less impact than expected, t of investment in wildfire miti home hardening strategies. Burns & Wilcox partners with Defense Systems—a private specializes in wildfire mitiga prevention services—to prov additional layer of protection against losses due to wildfir
CAPACITY & COVERAGE
Admitted carriers are showing greater flexibility, especially for clean risks. However, in many regions—especially the Midwest and West Coast—capacity remains tight, and E&S markets continue to play a vital role.
WHAT’S NEW
Burns & Wilcox has launched an exclusive highvalue home product in partnership with Atain Insurance Companies. Available in California, Colorado, Florida, and along the Gulf & Atlantic coasts Optional contents-only offering for greater flexibility
Backed by an “A” rated carrier (AM Best)
