Energy State of the Market

Placing You First Insurance Podcast by CRC Group

After a year of slashed demand in 2020, global oil demand surged in 2021 as the world began to recover from the coronavirus pandemic. In 2022, energy demand and commodity prices are still up, indicating that the energy industry is strong (source 3). Refineries are operating at approximately 95% capacity, and many companies would like to expand operations conservatively. But, like other industries all across the country, energy companies are struggling to find and hire qualified employees to fill positions. They’re also grappling with ongoing supply chain problems that make it difficult to obtain materials and purchase or repair vital equipment. As the insurance marketplace continues to contract, prices are rising for several product lines.

Visit REDYIndex.com for critical pricing analysis and a snapshot of the marketplace.

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1. Energy State of the Market (00:00:00)

2. Richard, can you give us an idea of the types of business that JH Blades focuses on? (00:01:26)

3. What big are the big issues we should consider when talking about the State of the Energy market? (00:01:40)

4. What's causing the increase in pricing? (00:03:27)

5. What do agents need to know about the current state of the energy market? (00:04:34)

6. Keith and Rebecca, how is the energy market doing right now? (00:06:19)

7. Is switching to a new carrier the right play in this market? (00:08:22)

8. What about auto when it comes to energy? (00:09:43)

9. From your perspective, what do agents need to know about the energy market right now? (00:13:47)