Winning Your 2025 Property Renewals

Think a flat renewal is guaranteed as the property market softens? Think again.

The insurance landscape may be stabilizing but it still takes detailed data and solid risk engineering to achieve successful insurance outcomes—especially for companies in natural hazard prone regions.

As risk managers and insurance professionals prepare for property renewals in 2025, Global Risk Consultants teamed up with RIMS for a webinar offering powerful strategies to navigate the evolving market and emerging risks. With experts David Rix (Global Sales Manager) and Charlie Carriker (Strategic Sales Manager, Project Services) leading the session, the conversation emphasized that staying proactive and data-driven in risk engineering is the secret to a stellar renewal submission.

Let’s dive into the top takeaways from their discussion:

1. The Market is Softening, But Don’t Get Too Comfortable

Yes, the property insurance market is finally easing after years of rate hikes, but getting a flat renewal takes hard work. High-risk locations and sectors are still under a microscope. The message from the webinar was loud and clear: you’ll need a proactive risk engineering strategy backed by strong statistics to stand out in renewal negotiations.

“Independent risk engineering provides you the full picture of your facility's risks,” said Rix. “This approach allows you to fully own your data and strategically showcase your commitment to proactive risk management.”

2. Proactive Loss Control: Gain Detailed Risk Data

Want to impress underwriters? Go beyond the basics and show them you’re serious about proactive loss control. Carriker emphasized that managers who invest in risk engineering get detailed risk analytics—like interactive dashboards and reports—that help you make sound strategy decisions that reduce risks. Showcasing that to underwriters makes renewal negotiations much smoother.

“Data tells a story that words alone can’t,” said Carriker. “When you present detailed risk insights in a visual format, underwriters see the concrete value of your risk mitigation strategies.” 

3. Hot Topics for 2025: What’s Driving Risk Engineering Demand?

Carriker and Rix outlined some of the most significant risks and regulatory challenges for the coming year, such as:

• Natural Hazards: The increased frequency of severe convective storms, hurricanes, and other natural disasters means more scrutiny on facilities in higher-risk regions.
• Fire Protection Regulations: Ongoing research into fluorine-free foams means facilities may need to adapt their fire protection strategies as regulations evolve— without sacrificing safety.
• Emerging Industries: Renewable energy projects leveraging solar and battery storage technologies require custom engineering due to unique storm exposures and fire risks.

“These aren’t your typical risks,” said Rix. “For industries like renewables, it’s not just about property risk—it’s a compliance-driven strategy that needs a precise approach to get the right level of coverage.”

4. Top Tips for Renewal Success

• Start Early: Start six months out, if possible, to provide ample time for risk engineers to visit your site and make recommendations.
• Prioritize Critical Locations: Identify and prioritize higher-risk or essential sites in your strategy.
• Use Data to Tell Your Story: Show underwriters that you’re actively reducing risk by offering clear metrics and year-over-year data comparisons.
• Consider Unbundling: Separate risk engineering from insurance carriers to gain a more robust understanding of your risk profile.

5. Why Independent Risk Engineering Matters

As the session wrapped, Rix and Carriker emphasized that independent risk engineering helps you control your narrative and highlight proactive risk management and improvements. By engaging in specialized risk engineering tailored to the unique needs of your business and industry, risk managers can create a submission that resonates with underwriters and sets the stage for successful renewals.

Ready to bring your A-game to renewals? Explore Global Risk Consultants’ risk engineering solutions and see how independent, data-driven insights can set your company apart. Follow us on LinkedIn to stay ahead on trends in risk engineering and loss control.