Market Outlook: What to Expect for 2020

Having just read the above article, you’re probably thinking the rest of this article will read like a horror story. You wouldn’t be entirely wrong and we’re going, to be honest, and realistic. It’s the only way to (hopefully) get operators in the proper mindset as they move toward their renewal in 2020. This may help with expectations and can even help operators be proactive in bracing for some changes they may need to accommodate.

For commercial operators, plan on at least a 3-4 week lead time in gathering updates for your renewal. Chances are there will need to be some dialog and market sourcing in order to achieve the same level of coverage and consideration, all of which takes time.

For all operators (some more than others), plan on at least a 10-30% increase. There are a lot of factors that go into this but the point is to not expect a reduction or even flat renewal, at least not without giving something up to get it.

This isn’t meant to fearmonger, this is just reality and we believe it’s best to be upfront and honest than it is to mislead and give operators a false expectation. Hopefully, next year’s market outlook will read a bit differently!