Amwins, a global distributor of specialty insurance products and services, has released its 2025 Hospitality & Real Estate State of the Market Report, providing a detailed look into market dislocation, rate pressures, and rising underwriting scrutiny impacting two of the most volatile casualty sectors in today’s environment.
As standard markets and longstanding programs exit the space, brokers and insureds face increased complexity in placing coverage, particularly for liquor-driven hospitality risks and large real estate schedules. The report offers insight into tightening capacity, evolving underwriting practices, and growing exclusions related to assault & battery, firearms and sexual misconduct.
“These sectors have always required specialization, but today’s market demands even more creativity, foresight, and strong carrier relationships,” said Corey Alison, executive vice president and national real estate practice leader at Amwins. “We’re seeing tough market conditions continue, with higher retention requirements, more in depth underwriting of schedules and limited lead excess options. Working with an experienced wholesale partner like Amwins helps ensure that businesses remain protected even when options are limited.”
As capacity constraints, inflationary pressures, and legal complexity persist, Amwins’ specialized expertise and market access allow brokers to deliver strategic solutions that balance cost with the protection clients need.
“We recognize the weight brokers carry in advocating for clients facing higher rates and shrinking terms,” said Joey Shapiro, executive vice president and national hospitality practice leader at Amwins. “This report reflects our commitment to not just identifying risk but solving for it.”
Key insights from the 2025 report include:
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Market Contraction & Tight Capacity: Real estate schedules see SIRs of $50,000 to $100,000+ to stay lender-compliant, while primary excess capacity often tops out at $2M to $3M.
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Hospitality Sector Strain: Liquor-driven venues face widespread non-renewals and must often pursue costly monoline placements in the E&S market.
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Assault & Battery (A&B) Restrictions: Carriers are increasingly unwilling to offer defense outside the limit, driving up costs and creating friction with excess markets.
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HNOA Rate Pressure: Once low-cost add-ons, Hired Non-Owned Auto coverage now commands premiums exceeding $25,000 in some cases, with tighter underwriting.
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Expanded Exclusions: Coverage restrictions around firearms, sexual misconduct, and human trafficking are becoming the norm, particularly for high-risk venues.
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Tort Reform Momentum: States like Florida, Georgia, and Alabama are implementing reforms that could reduce nuclear verdicts and drive more settlements, though results will take time to materialize.
Download the Report
The full 2025 Hospitality & Real Estate State of the Market Report is available for download here.
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