Commercial insurance: premium pricing still rising
Marsh's global commercial insurance price index has risen for the 13th consecutive quarter.
In fact, it hit a new record in fourth quarter 2020, with an annualized increase of 22%.
The entire planet was swept up in the trend. Rises were observed everywhere from the United States and the United Kingdom to Latin America, Continental Europe, the Pacific region and Asia.
All the same, March cautiously predicts a flattening of the curve.
“Pricing increases may be starting to plateau for certain insurance products in certain geographies — for example, directors and officers (D&O) and property in the US — due in part to new capacity entering the market. Continental Europe, Asia, and Latin America and Caribbean (LAC) have now had moderate levels of pricing increase for three quarters, suggesting that price hikes are slowing in these regions, the insurance broking and risk management leader explains in its report Global Insurance Prices: 13 Consecutive Quarters of Increase.