Victor Reports Significant Rise in A&E Claim Severity in North America
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Victor reported that average claim severity increased approximately 62% in the US and 64% in Canada when comparing the rolling ten-year periods of 2006–2015 and 2016–2025, measured in nominal dollars. Even after accounting for inflation, average severity rose 19% in the US. Kevin Collins, A&E practice leader at Victor, noted that insurers are confronting persistently higher claims costs despite competitive market conditions.
Why it matters
The findings indicate a shift in the architects and engineers professional liability market, where claims costs are rising significantly. This trend challenges insurers, as they face higher costs even while market pricing remains competitive.
Who's involved
- VictorInfrastructure company that reported the increased claim severity
- Kevin CollinsA&E practice leader at Victor who provided commentary on the market
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- VictorSpeculative
Victor's underwriting risk could be impacted by the increased claim severity and rising construction and legal costs.
- RPM InternationalSpeculative
RPM International might face higher costs for construction materials and A&E liability in North America.
Keep exploring
The entities involved
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Victor
US record label; primary imprint of Victor Talking Machine Company
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North America
continent in the Americas