Carol Adams, Managing Director, Life, Accident & Health, and Kevin Salfi, Vice President, collaborated with Oliver Wyman’s Marc Lambright, Senior Principal, on Stop loss market update, Fall 2026.
Our fourth annual Stop loss market update brings together the latest financial results, market trends, high-dollar claims analysis, and advanced analytical approaches currently shaping the stop loss insurance market. This year’s report found that incurred claims are increasing faster than premiums, and the largest claims are becoming both more frequent and more costly.
These results are contributing to a market that remains firm, competitive, and highly responsive to claims volatility, specialty drug trends, and broader medical inflation. Employers are continuing to look for ways to protect balance sheets and stabilize self-funded benefit costs, while carriers are balancing disciplined underwriting with the need to win and retain accounts in a crowded market.