General Liability According to the Council of Insurance Agents and Brokers (CIAB), while General Liability is not as challenging as Auto or Umbrella Liability, it remains a significant area of concern for insurers due to litigation expenses and increasing settlement sizes. General Liability is the traditional first line of defense for Premises and Product Liability, both areas leading to greater frequency, severity and larger verdicts. Habitational is an extremely challenging class of business due to premises frequency and a rise of assault and battery and firearm incidents. Coverage for firearms in GA has become scarce, despite lender requirements on the rise for this coverage grant. Overall, increased limits such as a 2M/4M structure and expanded coverages are generally limited and controlled tightly by underwriting appetite guidelines. Sophisticated risk managers and C-suite executives responsible for insurance spend are responding to the challenges posed by social inflation by strategically incorporating elements of risk financing. Mid-sized and large organizations have long used risk financing in primary casualty programs. These elements include self- insured retentions, deductibles, structured programs and captives. For those that currently deploy strategic risk financing mechanisms, utilize retention analysis and various analytic tools for decision support, as retentions should naturally increase over time.
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