For years, organizations have been told the same thing at renewal: higher costs, fewer options, and little room to negotiate. 

Now, that message is starting to change. After eight years of a hard insurance market, we’re finally seeing signs that conditions are easing. And with that change comes the chance to rethink strategy and improve outcomes. 

Let’s be clear though: a softer market doesn’t mean prices drop overnight or that companies can take their foot off the gas. What it does offer is opportunity. As insurers become more aggressive, companies who recognize the changing landscape—and act deliberately—stand to benefit most. Here are five strategies you should deploy to respond to these shifts. 

We get it—you’ve been playing defense for the past six years. Now that things are shifting, you have the perfect opportunity to step back and take a fresh look at your entire risk landscape, not just your insurance program. This is the time to align your risk priorities with your broader organizational goals so your insurance program isn’t just about getting through the next renewal but actively supporting your long-term strategy. By thinking bigger picture, you can make sure your coverage and risk management efforts work together to protect and advance your business. 

A softening market creates room to rebuild programs, consider higher limits, reclaim broader terms, revisit restrictive language, and challenge deductibles that increased during the hard cycle. As capacity expands and carriers begin competing again, reassessing your coverage structure can really pay off. If you lost certain coverage enhancements in recent years, now is the time to explore whether expanded carrier capacity can help bring them back. 

Even in a softening environment, underwriting discipline remains. That means a strong track record and clear risk management practices really matter. Insureds who can show solid performance—backed up by good data, clear explanations of their operations, and tangible improvements in loss control—tend to get the best results. In other words, carriers may reward those who not only manage risk well but can also clearly demonstrate how they’re doing it. Taking the time to gather your data, tell your story, and show the steps you’ve taken to reduce risk can make a big difference in the coverage, terms, and pricing you receive. 

A softening marketplace highlights abundant capacity and aggressive market participation—making it an ideal time to evaluate options for long-term benefit. A competitive market means flexibility for you to explore possibilities like these:  

In short, it’s a chance to rethink your insurance strategy and find solutions that really fit your needs. 

This too shall pass. While the market is showing signs of softening, we’re still seeing increases, non-renewals, and plenty of unpredictability. That’s exactly why now is the time to act. Use this period of relative leverage to safeguard your organization for when the tides inevitably turn.  

The moment to be proactive about your future is now. Use the leverage you have today to win tomorrow—whether that means locking in more favorable terms for multiple years or testing a new approach. 

At MJ, we specialize in helping you be a better, smarter, and more efficient organization. Reach out today to learn more about risk management offerings.