If Liability Rates Soften, It’s an Across-the-Board Soft Market (Oct. ’25)

In an Assured Comment released in mid-October, Assured Research observed that the liability rates could come under in the absence of adverse development on older accident years. Our statistical work on past decades bears that out, and in our Comment we shows that liability insurers are baking increased conservatism into their loss ratio selections. That’s prudent, but the forces of supply and demand can’t be repealed, or staved off for long.