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Lockton’s October 2026 assessment is that strong capacity and competition are giving some U.S. commercial-insurance buyers more choice across several lines. That may create an opening to review coverage and programme design, but it is not a promise of lower premiums or better terms for every business. The account is based on a Reinsurance News report published 2 October 2026, which summarizes Lockton’s quarterly Market Update.
What Lockton means by a more flexible market
In the update as described by Reinsurance News, Lockton sees strong capacity and competition giving commercial buyers more room to consider their options. The practical opportunity is to check whether existing insurance arrangements still fit the business, rather than assuming a market shift will automatically reduce costs.
The assessment is qualitative: the article provides no market-wide figures for capacity, premiums, coverage changes or expected savings. It also does not establish that conditions are the same for every industry, location, insurer or risk class. Treat it as Lockton’s view of the U.S. market at the time, not a guarantee for an individual buyer.
What buyers should review
Vince Gaffigan, Lockton’s US Market Strategy & Engagement Group Leader, recommends looking beyond the rate and checking whether the programme is structured for the risks the organization actually faces. That review can include:
- Retentions: Whether the amount the business keeps before insurance responds remains appropriate to its finances and risk appetite.
- Limits: Whether coverage limits remain suitable for the scale and potential severity of the organization’s exposures.
- Operational changes: Whether changes in activities or operations have altered the risks the programme needs to address.
- Emerging exposures: Whether newer or changing risks have been considered in the current arrangement.
- Risk-financing strategy and programme structure: Whether the overall approach—not only its premium rate—still fits the organization.
Gaffigan put the advice this way: “Buyers should be looking beyond just rate and consider whether their programmes are appropriately structured for the risks they face. That means reassessing retentions, limits, changes in operations, emerging exposures and risk finance strategies. Macroeconomic and geopolitical events can shift the market quickly, so now is the time to make any necessary changes.”
This is a general review framework, not a recommendation for a particular company’s policy terms. The report summary does not compare insurers or provide individualized coverage advice.
Topics covered in Lockton’s quarterly update
Reinsurance News says the update discusses casualty-market developments, including a Q&A with Bill Chepulis, Head of Large Casualty at Zurich North America. It also addresses data centres and how operators and brokers may respond to insurance-market conditions, as well as AI’s implications for cyber risk as emerging technologies change cyber exposures.
The article says Lockton presents seven strategies for buyers but does not list them. Without the underlying report, those strategies cannot be stated accurately.
Why the opportunity may not last
Lockton’s assessment is time-specific, not a long-term forecast. Greg Spore, the company’s Director of Market Intelligence in its US Market Strategy & Engagement Group, warned: “Buyers have more room to manoeuvre today, but favourable conditions won’t last forever. The organisations that benefit most will use this moment to strengthen their programs, prepare for emerging risks and position themselves for what comes next.”
The source also relays Gaffigan’s warning that macroeconomic and geopolitical events can shift the market quickly. Buyers should therefore treat the current flexibility as a reason to review their arrangements, not as evidence that the same conditions will continue.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to use the market update
A buyer considering a change can use Lockton’s comments as a prompt to discuss programme fit with its broker or adviser. Useful comparison points include the line of coverage, structure, retentions, limits and how well the option addresses the organization’s changing exposures. The update does not support ranking carriers or estimating likely savings.
Because the underlying Lockton report was not independently available in the account summarized by Reinsurance News, the line-by-line market picture and the seven strategies remain unspecified. The reported assessment should be read within that limit.
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