Navigating Changes in Commercial Property & Casualty Coverage

Aug 19, 2021

The unpredictable global events of the past two years are having an outsized impact on commercial insurance markets. For business owners, understanding these key influences and outcomes can help make the renewal process for property and casualty coverage a much less overwhelming task.

By far the greatest influencer on the P&C marketplace has been the COVID-19 pandemic. According to Deloitte, it fundamentally reshaped the commercial insurance industry. Resulting factors such as general uncertainty, increased exposure, insurer stability, government intervention and geographical variation are still exerting outsized influence on practically every type of industry coverage.

Other factors, including rapid technology advances, real time analytical data, sector growth and competition, climate unpredictability and an aging consumer base are also impacting the commercial P&C lines.

According to, property market losses have created drag on P&C profits resulting in reduced capacity, increased deductibles and rapidly changing coverage terms. The casualty market is undergoing a similar experience, marked by selective underwriting, broad scale rate increases and painfully slow addition of new capacity.

So, how should business owners and financial planners ensure they optimize their P&C spend? Regardless of industry, businesses should take the following proactive postures when considering renewals:

At Oakbridge, we’ve been helping business owners — our neighbors — plan for the best and prepare for the worst for over 100 years. We’re business owners too, and we’ve negotiated superior P&C coverage for thousands of business owners across the Southeast. Put our decades of experience to work for your business. Contact your representative today.

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