From: Commercial Risk
Multinational companies with US casualty exposures face higher insurance costs, as insurers and reinsurers react to persistently high loss ratios and social inflation, experts have told Commercial Risk.
Peter Linehan, executive director for US casualty at broker Gallagher in the UK, said companies with US liability risks should expect a harder insurance environment.
As a result of US claims impacting global programmes, most insurers are placing US casualty risk under closer scrutiny, he said. In general, they are increasing the overall premium, or increasing the premium allocated to the US portion of the risk, added the broker.