General Insurance Article - Global commercial insurance pricing increases by 11 percent


Global average commercial insurance prices increased 11% in the fourth quarter, according to the Global Insurance Market Index released today by Marsh, the world’s leading insurance broker and risk adviser.

 Average price increases were driven principally by increases in property insurance rates and financial and professional lines. Among other findings, the survey noted:

 • The fourth quarter of 2019 was the ninth consecutive quarter of average price increases.
 • Globally, on average, pricing for property risks increased 13%; financial and professional lines rose nearly 18%; and casualty increased 3%.
 • Composite pricing in the fourth quarter increased in all geographic regions for the fifth consecutive quarter.
 • All global regions reported average pricing increases of 5% or higher for the first time since the index began.
 • The Pacific region had the largest composite pricing increase in the index (21%), a quarterly trend that has continued for three years.

 Pacific composite pricing was largely driven by increases in directors and officers (D&O) rates, as well as increases in property.
 Commenting on the findings, Dean Klisura, President, Global Placement and Advisory Services at Marsh, said: “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.”

  

Back to Index


Similar News to this Story

Sleighing the risks by giving Santa the insurance he needs
While you might be the most magical employer in the world, we know that even you aren’t immune to the risks of running a global delivery service! From
Diversity improving in insurance and long term savings
Key figures from the Association of British Insurers’ latest Diversity, Equity and Inclusion (DEI) data collection highlight the work of insurers and
Almost a third of homeowners have been victims of burglaries
Research commissioned by Co-op Insurance reveals that almost one in three (29%) homeowners have been the victims of theft from their home. The member-

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.