Challenges Faced

As we navigate through 2023, a changing insurance market continues to impact coverage, premium, deductibles, and many other factors that are essential to your organization. Although the insurance market for some property and casualty lines stabilized in 2022, organizations with below-average risk exposures to loss in certain areas or industries faced severe upward rate pressure.

In late 2022, Hurricane Ian had and continues to have an extreme effect on the insurance industry with many insurers expected to pay out billions in losses. The impact of Ian, as well as continued severe weather events, supply chain challenges, and inflationary pressures will continue to affect market capacity, available coverage, and premium costs. These factors reinforce the need for a comprehensive risk management strategy.

How USI Can Help

As we enter another year of dwindling capacity, rate increases, increased retentions and insurer’s focus on
risk quality, insureds must be able to differentiate themselves in the market to mitigate its impacts and
optimize the insurance spend. USI can help insureds navigate this market through a carefully planned and
executed roadmap involving the following:

• Utilization of analytics and underwriting tools to identify exposures and improve data quality
• Reviewing third-party insurance requirements to ensure alignment with terms and conditions
• Designing a sustainable and efficient program around those exposures present
• Exploring alternative program structures or products to minimize market impact
• Employing risk control to improve risk quality and maximize risk improvement spend

Who Can Benefit

Whether you are a board director, unit owner or tenant, USI can deliver the insurance solutions you need and provide resources for the future. After tailoring a program fit for your unique risk, our technical resource team will help navigate ways to mitigate future loss and enact risk management procedures to enhance the quality of your risk for future insurance renewals.