September 9, 2022
XPT recently announced the unification of binding and brokerage businesses including Western Security Surplus, Sierra Specialty, LP Risk, SVA Underwriting, and WE Love & Associates to one consolidated brand, XPT Specialty – your eXpert Partner Team. As a combined group, XPT Specialty’s team of experts is constantly looking to the future to identify new products, implement new services, and continually adapt to best serve partner interests. One of these initiatives is to examine the current market conditions that can impact clients’ business in this State of the Market report part of a series of industry-focused reports. In this report, we deliver professional insight into key trends that are affecting the commercial transportation and construction industries, along with challenges regarding capacity, pricing, claims and cyber liability.
Commercial Transportation focuses throughout this report include exploring the continued hard market climate stemming from COVID-19 and supply chain challenges, as well as changes in the FMCSA and CSA 2010 with insights from Ben Booker, VP of National Transportation, and Landon Parnell, Group Executive VP
Construction focuses on analyzing issues including skilled labor shortages with insights from Lynn Bertram, Senior Broker/Underwriter, and Mark Kaufman, Regional EVP. A number of individuals are retiring, and companies are finding it difficult to fill those jobs with younger workers who have the required experience or are willing to be trained. In addition, jobs in the construction industry are often viewed by the public as low paying positions that involve only hard labor.
XPT Specialty is always on the lookout for products, services and technologies to best serve clients. Close industry connections allow XPT brokers/underwriters insight into upcoming market shifts giving clients access to the latest developments and innovations.
XPT Specialty offers Binding and Brokerage solutions for a wide variety of industries including Transportation, Hospitality, Agribusiness, Contractors, Oil & Gas and Commercial Property.
XPT Specialty – Q3 2022 State of the Insurance Market
About XPT Specialty
XPT is your eXpert Partner Team for wholesale commercial insurance. A team of specialist experts collaborating to efficiently bring the greatest value. Listening to client partners enables the service culture that anticipates needs and leads to true partnership. The unique win-win approach multiplies the value XPT brings to its clients and market partners.
XPT brings together underwriting and wholesale brokerage firms across many specialty lines through acquisitions and new product development. XPT stands apart by delivering expertise through a collaborative partnership culture.
Contact: Mark Smith 917.843.1243 msmith@xptspecialty.com
