Insurance Market Update August 2020

New Unimutual Board Member – Noel Condon
August 3, 2020
Renewal Update FAQs – August 2020
August 12, 2020

Insurance Market Update August 2020

Insurance and Reinsurance Markets: Is There any Good News?

This article provides an update on insurance and reinsurance markets from our Head of Underwriting Peter Watts, in particular how market conditions are likely to affect members at renewal time, and what the outlook is for property, liability, management, and cyber protection.

This is the time of the year that I write to Members to give them the lay of the land for the coming months. My aim is to give you an understanding of the global and local insurance market conditions and a clearer view of how this will impact your organisation. If you have further questions, you may find our FAQs on Renewal addresses them as it focuses more specifically on the Unimutual renewal or we encourage you to get in touch.

While I wish I could inform you of a bright outlook in the insurance sector, this year is one of the most challenging for a very long time, as it has been for our Members and many organisations universally. For the reinsurance market, these difficulties come on the back of a number of already challenging years.

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