2023 Commercial Auto Insurance Midyear Market Outlook

devo Insurance

The commercial auto insurance market has encountered significant underwriting losses and plummeting profitability for more than a decade. Although the segment continues to face challenging market conditions, rate increases mostly remained in the single digits in 2022, demonstrating signs of stagnation compared to double-digit rate hikes in prior years.

aia-Commercial Property-image

2023 Commercial Property Insurance MidyearMarket Outlook

devo Insurance

The last several years have seen the commercial property insurance market progressively harden, evidenced by ongoing rate increases over the past 22
consecutive quarters. Such rate hikes showed some signs of stagnation throughout 2022 by largely remaining within single digits, according to insurance experts.

aia-news-Insurance Loss Runs-image-

Insurance Loss Runs Explained

devo Insurance

Claims history is one of the main factors that insurers evaluate to determine organizations’ commercial insurance premiums. As such, it’s crucial for organizations to have a sufficient grasp on their past losses. Fortunately, that’s where insurance loss runs can help. A loss run is a report generated by an insurer that records the claims made against an insured’s policies. These …


The Importance of Certificates of Insurance

devo Insurance

No matter what industry you’re in, chances are your organization will, at some point, rely on the help ofa third party to fulfil certain business needs. Regardless of who you work with, business arrangements with contractors and vendors can open you up to a number of risks—risks that need to be accounted for through insurance


2023 Commercial Property Insurance Market Outlook

devo Insurance

The past five years have seen the commercial property insurance market progressively harden, evidenced by consistent rate increases since 2017. However, according to industry data, such rate jumps showed some signs of stagnation in early 2022, with average increases staying within single digits. Going into 2023, rates are still on the rise. Some insureds are also encountering above-average rate increases …