Average Commercial Insurance Prices Jumped 11 Percent in Q4: Marsh

February 12, 2020

Global average commercial insurance prices increased 11 percent in the fourth quarter of 2019, according to the Global Insurance Market Index released by insurance broker Marsh.

The fourth-quarter rise in prices was the largest year-over-year increase in the Marsh Global Insurance Market Index since its inception in 2012, and it was the ninth consecutive quarter of average price increases.

Average price increases were driven principally by increases in property insurance rates as well as financial and professional lines, Marsh said.

The survey also found:

Overall property prices in the regions were reported by Marsh as:

Overall regional casualty pricing trends were reported as:

“The impact of natural catastrophe losses and increasing concern about litigation trends have led to price increases for many insurance buyers. Global pricing has now increased every quarter for two years, and while capacity largely remains strong, there has been tightening in certain product lines and regions,” said Dean Klisura, president, Global Placement and Advisory Services at Marsh, in a statement accompanying the report.

Source: Marsh

*This story ran previously in our sister publication Insurance Journal.