See what is changing and what is not!


The insurance market is always changing. Each year brings new challenges that, in turn, create new opportunities. 2020 was no different and a unique challenge and opportunity arose for the insurance industry. This 25 page guide covers workers comp, general liability and more. Watch the video and download the outlook guide today.

What can Truck and Trailer Makers expect in 2021?

The pandemic has been the most significant agent of change to the insurance marketplace since the tragic events of September 11th, 2001. Covid-19 has been a pandemic like we have not seen in over a generation. In fact, it has been over 100 years since the Spanish Flu devasted the United States. The insurance industry has responded with generosity to Covid-19. As a whole, we returned over a billion dollars to policyholders and worked on setting up payment plans due to financial hardship. The insurance industry was also able to keep its promise to pay covered losses by paying claims with little to no interruption in service.

Outside of Covid-19, storm season was more severe than in years past, and property damage was greater than expected. Both commercial and personal auto insurance markets underperformed expectations with unprofitability continuing to be an issue across the board. The auto market also had an impact on the umbrella and excess market. We have seen a tightening of this market on price, terms, conditions, and availability of limits.

Covid-19 has changed life insurance underwriting. Moving forward, we believe there will be a question on all life insurance applications related to Covid-19. We think the application will ask, “Have you EVER been diagnosed by a medical professional with Covid-19?” or something of the like. The keyword being “EVER” We also wonder if a positive antibody test will trigger a “yes” answer to the question. There are many unknowns, but one thing has not changed in life insurance underwriting. The 2-year contestability period has not and will not change. Life insurance applicants must answer underwriting health questions openly and honestly. To quote a well-known instructor of insurance, “Please answer the question asked, not the question you wish we asked.”

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