Commercial insurance prices gains slow - Marsh

  Global commercial insurance prices rose 18% in the first quarter, according to Marsh's latest Global Insurance Market Index. This follows an average annual increase of 22% in the fourth quarter of 2020 and 20% in the third quarter of 2020. The first quarter of 2021 marked the first time the average rate of increase fell since the index first saw global rates rise in the fourth quarter of 2017. According to Marsh, gains across regions have slowed due to generally slower rate increases in property insurance, finance and professional life. The UK, with composite prices up 35% (up from 44% in the fourth quarter) and the Pacific region, up 29% (up from 35% in the fourth quarter) drove the global composite rate. The rate of increase was 14% (versus 17%) in the US, 8% (versus 11%) in Asia and 5% (versus 9%) in Latin America and the Caribbean. Further survey results were:
  • Global property insurance prices rose an average of 15% compared to the 20% increase in the fourth quarter of 2020. Casualty insurance prices increased an average of 6% compared to 7% in the fourth quarter.
  • Finance and professional prices showed the highest rate of increase among major insurance product categories at 40%, compared to 45% in the fourth quarter.
  • Cyber ​​insurance prices bucked the trend. Prices rose 35% in the US and 29% in the UK in the first quarter, driven by an increase in the frequency and severity of losses. In the fourth quarter, the cyber rate was 17% in the US and 26% in the UK.
Continue reading: Marsh McLennan reports on first-quarter financial results "While we will continue to see price increases in some areas and the market as a whole will continue to be challenging for our customers, we expect the price increases to slow down further as the year progresses," said Lucie Clarke, President of Marsh Specialty and Marsh Global Placement. read more

https://businessservicesnews.ca/commercial-insurance-prices-gains-slow-marsh/

Comments

Post a Comment

Popular posts from this blog

Open call: ACC Residency 2023 - Announcements

Asia Culture Center (ACC) is seeking participants for ACC Residency 2023. ACC has been organizing international residency programs not just as a form of artistic support policy, but a superlative creation/production program to produce novel and diverse content with creative talents from all over the world. As a forum for experimentation and exchange it envisions alternative futures based on a spirit of artistic engagement with reality. This year, the residency will be held in collaboration with ACC Sound Art Lab under the theme “Futures of Listening” which is also a long-term project led by ACC Sound Art Lab. As part of the collaboration, the two programs will be jointly organizing creative support programs for participants including talks and workshops by four world-renowned soundscape experts. Based on these, residency participants are to develop and present concepts for individual projects exploring the theme. This will be followed by the actual production and realization of t...
Read more

Radian's Pyramid Platform automates every step of the real estate process

Image
As the real estate industry prepares for the end of the forbearance moratoria, real estate experts anticipate an increase in foreclosures and REO activity. In preparation for this influx, asset managers, servicers and investors need to make sure they have the tools and technology to successfully navigate this unpredictable time. Pyramid Platform, Radian's award-winning asset management technology, can help users quickly adapt to fluctuations in the REO environment. Pyramid Platform automates and organizes every step of the REO asset management process through a secure web-based portal. Pyramid Platform users can customize their REO administration workflow to trigger tasks based on their individual needs. This helps users implement and manage investment strategies, from listing to liquidation. In addition, the Pyramid Platform offers users a variety of other workflows, including replacement deeds, short sales, acquisitions, rental management, and more. "After an un...
Read more

2021 Tradovate Review • Pros, Cons + More • Benzinga

Image
With such a wide range of options available, choosing a futures trading platform can be tricky. Tradovate is an innovative futures broker offering proprietary desktop and mobile trading platforms. Our Tradovate review will help you learn more about the pros and cons of opening an account. Tradovate is a specialized broker that provides users with access to the futures trading market. Unlike some brokers who require traders to fund the purchase of their own trading platform, Tradovate offers its own proprietary platform - and it's surprisingly comprehensive and powerful. Some of our favorite features on the Tradovate platform are the following: Depth of Market (DOM): If you have a trading strategy that relies on quickly executed, frequent trades, you will appreciate Tradovate's DOM feature, which allows you to quickly analyze price information, manage your positions and place orders at increased speed. Cross-platform charting: Not only can you use the Tradovate ...
Read more