M id A tlantic Real Estate Journal — Financial Digest — Spring Preview — April 22 - May 19, 2022 — 11A
www.marej.com
C ommercial B usiness I nsurance By Jamie Cutler and Tom Delark M&T Insurance Agency, Inc.’s Spring 2022 Market Brief
T
he insurance market brief series fromM&T In - surance Agency is aimed
According to CIAB, respondents are reporting increased claims activity in virtually all lines of coverage. In particular, two specific lines saw a significant rise in claims activity: Commercial Property & Commercial Auto Graphic from Council for Insurance Agents and Brokers (CIAB), 3Q 2021 Commercial Property/Casualty Market Index. Insurance Products are NOT Deposits; NOT FDIC Insured; NOT insured by nor an obligation of Any Federal Government Agency; NOT Guaranteed or Underwritten by the Bank; Not a Condition to the Provision or Terms of any Banking Service or Activity; and May Go Down in Value. ©2022 M&T Bank and its affiliates and subsidiaries. All rights reserved. AMP-1849 220414-2
at supporting you and your business by p r o v i d i n g perspect ive o n i n s u r - a n c e ma r - ke t t r end s in terms of Property, Ca- sualty, and Specialty In- surance lines. 2021 was an interest- ing year for the market. Some key in- sights in our latest market brief include:
79%
77%
60%
51%
37%
36%
36%
35%
32%
31%
29%
23%
Jamie Cutler
Cyber
Commercial Property
Commercial Auto Employment Practices
Umbrella
Workers' Compensation
Q3 2021
Q2 2021
Tom Delark
“On behalf of all of us at M&T Insurance Agency, I invite you to ex- plore our Spring 2022 Market Brief. We always take an entrepreneur- ially-minded view of the risk to our clients via these insights. We look forward to walking through this report together and what it means for your business” - Tom Delark Jamie Cutler leads M&T Insurance Agency’s Real Es- tate & Construction Prac- tice Group for M&T Insur- ance Agency. TomDelark is headof Insur- ance Placement and Regional Market Leader for M&T In- surance Agency. MAREJ Respondents agreed that the prevalence of cyberattacks, spe- cifically ransomware, phishing, and social engineering attacks, was one of the primary drivers of Cyber premium increases. Staying abreast of these threats remains challenging. Did you know we offer a com- plimentary cyber risk assess- ment? Schedule yours today at mtia.com Premiums increased for the 16th consecutive quarter in Q3 2021, with respondents re - porting an average premium increase across all account sizes of 8.9%. Cyber once again had a record increase in Q3 2021, the highest premium increase out of all other lines. Respondents said premi - ums for that line increased by an average of 27.6%. Respondent s i nc reased claims activity in virtually all lines of coverage. In particu - lar, Commercial Property and Commercial Auto lines saw significant increases.
Experience, trust and guidance.
M&T Insurance Agency, Inc. offers more than just insurance. Our consultative approach is what sets us apart. You’ll work with an experienced team that has deep industry and product knowledge to help you build a completebenefits and property & casualty insurance solution. Backed by M&T Bank’s more than 165 years of experience with businesses, we will provide customized, proactive guidance. Contact Tom Delark at 212-350-2522 or email tdelark@mtb.com or Jamie Cutler at 212-350-2019 or email jcutler@mtb.com to discuss what’s important to you.
mtia.com
P R O P E R T Y A N D C A S U A L T Y | E M P L O Y E E B E N E F I T S | S U R E T Y B O N D S
Insurance Products are NOT Deposits; NOT FDIC Insured; NOT insured by nor an obligation of Any Federal Government Agency; NOT Guaranteed or Underwritten by the Bank; Not a Condition to the Provision or Terms of any Banking Service or Activity; and May Go Down in Value.
Insurance products are offered by M&T Insurance Agency, Inc., not by M&T Bank. Insurance policies are obligations of the insurers that issue the policies. M&T Insurance Agency, Inc. is a subsidiary of M&T Bank. ©2022 M&T Bank Corporation and its subsidiaries. All Rights Reserved. AMP-2117 220412
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