According to the Council of Insurance Agents and Brokers (CIAB), Q2 2020 marked the 11th consecutive quarter of increased premium pricing, and the trend has not slowed. April 2020 incurred the highest frequency of billion-dollar disasters in the last decade, with over 150 tornadoes in the southern states, and then came COVID-19. Wildfires have ravaged the west and Hurricane Laura pummeled portions of Louisiana. While we don’t know what the future will hold, all indications are that the hard market will continue into 2021, having a huge financial impact for the Higher Education Industry. The lines of coverage that will see the greatest increases will be Property, Liability, Umbrella, Directors & Officers, and Educators Legal.
For a complete report, including strategies to ensure a successful 2020-2021 renewal, click here.
The mission of The Coalition for College Cost Savings (The Coalition) is to support state-level higher education member associations by creating collaborative opportunities to transform processes, reduce cost, and increase efficiencies for their member colleges and universities.