Happy Wednesday! In this week's Big I Buzz, US property insurance rates fall for the first time since 2017. Plus, specialists warn that the workers' comp market is at a tipping point.

US Property Insurance Rates Fall for First Time Since 2017

For the first time in nearly seven years, US property insurance rates are declining as insurers regain profitability due to fewer losses tied to catastrophes. According to a report from Aon Plc, the average property insurance rate in the US fell by 0.94% in the second quarter compared to the previous year. This marks the first rate decrease since Q3 of 2017, following a trend of moderated rate increases over the past year. Read more here.

Is Workers’ Comp at a Tipping Point?

For several years, workers' compensation insurance has been both highly competitive and profitable, offering lower premiums and ample capacity for insureds. However, rising healthcare costs and the rapid evolution of medical treatments are starting to impact the market. Experts warn that while claims frequency has been stable, this could soon lead to an increase in workers' compensation premiums. Read more here.

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