As we move into October, the insurance market remains a study in contrasts. The national narrative may be shifting, but here on the Gulf Coast, the lingering effects of hurricane season remain a primary focus. Underwriters remain vigilant, and a disciplined approach to renewals is still the rule for many lines of business.
Here’s what you can anticipate in the month ahead.
Property & Homeowners: Hurricane Season’s Lingering Impact
The active hurricane season and recent catastrophic events have kept the property market on high alert. While national reports suggest a general softening in some areas, the story is different in high-risk zones. Carriers are maintaining their firm underwriting standards and pricing. The market is increasingly rewarding clients who demonstrate strong risk mitigation and hurricane preparedness plans. The key to a favorable renewal this month is a proactive conversation with your broker.
Casualty Lines: Pressure Continues, with a Glimmer of Stability
The casualty market continues to face a mix of challenges, primarily driven by persistent inflation and a cautious underwriting environment.
- Commercial Auto: This remains one of the most difficult lines of business. Despite some moderation, we continue to see rates on an upward trend. This is largely due to the high cost of modern vehicle technology repairs and ongoing litigation.
- General & Excess Liability: Social inflation is still a major factor in this market. While rate increases may not be as steep as in previous years, underwriters are being selective. Businesses can expect rates to remain firm, with increases in the mid-single digits for most classes.
- Workers’ Compensation: As in previous months, this remains a bright spot in the market. Consistent safety records and a competitive environment are keeping rates stable, with many businesses continuing to see flat or even slightly decreasing premiums.
A Look Ahead for October:
The message for October is clear: Be vigilant, be prepared, and communicate. For property owners, having a documented preparedness plan is more important than ever. For all businesses, proactive engagement with your broker is the best way to navigate market complexities and secure the most favorable renewal terms possible.
Sources:
Swiss Re Institute: https://www.swissre.com/institute/research/sigma-research/Insurance-Monitoring/us-property-casualty-outlook-july-2025.html
Willis Towers Watson (WTW): https://www.wtwco.com/en-us/news/2025/06/us-commercial-insurance-rates-continue-downward-trend-dropping-to-5-point-3-percent-increase
AM Best: https://web.ambest.com/ratings-services/bests-market-segment-outlooks
NCCI (National Council on Compensation Insurance): https://www.peocompass.com/blog/shifting-tides-in-workers-compensation-what-the-2025-data-tells-us
IMA Financial Group: http://imacorp.com/insights/property-casualty-markets-in-focus-q3-2025
