[IndusHospitality Ratry] Industry Rate Guide te Guide — U.S.— U.S. 2025 Hospitality Coverage 2024 Rate Guide Insights Coverage Rate Guide Insights Empor am res denietur ra veriae voloreceriam aut ad ut Though varying significantly by state, rates have stabilized for asperch iciunt, quiae nonseque plab ipsam se este int etur much of the industry, but restaurants, hotels and bars with sum voluptatemos sit eliquibeaquo eum exceremped etur sum exposure to liquor may still need coverage options from the Lorem ipsum  -0% to  +0% inverio nsequib usandit qui conecto cus rem quatur sectiatem Liquor Liability +11% to 20% E&S market. Businesses operating in states with dram shop illant evel minture qui res perfereped qui corehen istiati squibea laws, or those with high claims activity or increased exposures tescipsunti occus re es dolorer ferspietur, sunda volecer namende (i.e., nightclubs) will face higher rate increases and underwriting sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui pressure at renewal. comnisquas restrumet. Results reflect market recovery and depend heavily on account Empor am res denietur ra veriae voloreceriam aut ad ut metrics (occupancy, business class, loss control, catastrophic asperch iciunt, quiae nonseque plab ipsam se este int etur exposure, claims history, etc.). Accounts that are being non- Commercial Property Flat to +10% sum voluptatemos sit eliquibeaquo eum exceremped etur sum renewed by incumbents, particularly single-carrier placements, are Lorem ipsum  -0% to  +0% inverio nsequib usandit qui conecto cus rem quatur sectiatem still seeing less favorable results in the form of larger rate increases illant evel minture qui res perfereped qui corehen istiati squibea and/or increased deductibles and retentions. tescipsunti occus re es dolorer ferspietur, sunda volecer namende sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui comnisquas restrumet. As rates in certain geographies stabilize, exceptions remain, especially for wind- and earthquake-exposed areas with histories of drastic run-up rates and premiums during the hard market Empor am res denietur ra veriae voloreceriam aut ad ut cycle. Carriers will remain focused on valuations, driving increased asperch iciunt, quiae nonseque plab ipsam se este int etur costs for some insurance programs. Specialty carriers show signs Catastrophic Perils Flat to +10% sum voluptatemos sit eliquibeaquo eum exceremped etur sum of softening, while the standard market still works to achieve Lorem ipsum  -0% to  +0% inverio nsequib usandit qui conecto cus rem quatur sectiatem adequate rates on their book. illant evel minture qui res perfereped qui corehen istiati squibea tescipsunti occus re es dolorer ferspietur, sunda volecer namende Top concerns for underwriters are convective storm and wildfire, sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui along with the Atlantic wind season from June to November. comnisquas restrumet. Per- and polyfluoroalkyl substances (PFAS) remain a hot topic and Empor am res denietur ra veriae voloreceriam aut ad ut underwriting concern. Packaged GL and pollution rates remain asperch iciunt, quiae nonseque plab ipsam se este int etur steady with a few tougher classes seeing rate increases of 5% to sum voluptatemos sit eliquibeaquo eum exceremped etur sum 10%. Some carriers are limiting excess capacity coverage while Lorem ipsum  -0% to  +0% inverio nsequib usandit qui conecto cus rem quatur sectiatem Environmental -5% to +10% others are exiting the market. illant evel minture qui res perfereped qui corehen istiati squibea tescipsunti occus re es dolorer ferspietur, sunda volecer namende Hospitality risks with exposure to legionella or vendors that sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui dispose grease should consider purchasing an environmental comnisquas restrumet. policy. Empor am res denietur ra veriae voloreceriam aut ad ut asperch iciunt, quiae nonseque plab ipsam se este int etur Capacity between carriers for D&O placements remains strong. sum voluptatemos sit eliquibeaquo eum exceremped etur sum D&O -10% to +5% Underwriters are aggressively cutting premiums, giving automatic inverio nsequib usandit qui conecto cus rem quatur sectiatem Lorem ipsum  -0% to  +0% renewals and awarding two-year policies to maintain business. illant evel minture qui res perfereped qui corehen istiati squibea tescipsunti occus re es dolorer ferspietur, sunda volecer namende sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui comnisquas restrumet. Cyber rates continue to fall. Though significant breaches/outages Cyber -10% to Flat with service providers (i.e., Change Healthcare, Crowdstrike) haven’t led to rate hikes yet, harder market conditions may occur Empor am res denietur ra veriae voloreceriam aut ad ut during the first half of 2025. asperch iciunt, quiae nonseque plab ipsam se este int etur sum voluptatemos sit eliquibeaquo eum exceremped etur sum Lorem ipsum  -0% to  +0% inverio nsequib usandit qui conecto cus rem quatur sectiatem illant evel minture qui res perfereped qui corehen istiati squibea NOTE: Rate is typically defined as the amount of money necessary to cover losses and expenses while providing an tescipsunti occus re es dolorer ferspietur, sunda volecer namende insurance company with a profit for a unit of exposure. Exposure refers to a business’ or individual’s susceptibility to sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui various daily risks. Carriers evaluate the level of risk an insured faces in calculating insurance premiums. comnisquas restrumet. NOTE: Rate is typically defined as the amount of money necessary to cover losses, expenses, and provide an insurance company with a profit for a unit of exposure. Exposure refers to a business’ or individual’s susceptibility to various risks encountered daily. Carriers evaluate the level of risk an insured faces in calculating insurance premiums. 99