Bruce Bentley

  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 2...

Foresight Group Inc. has introduced commercial property insurance lines, including inland shipping, contractor equipment, and builder risk, offered as a supplement to employee compensation. Foresight, based in San Francisco, a managing general agent who uses a digital platform, says it focuses on buyers from the mid-market segment such as construction, solar parks, agriculture, manufacturing and light industry. The limits available for the client risk are general limits of up to USD 3 million (single-family houses up to USD 1.5 million); Masonry non-flammable and better, up to $ 20 million; optional flood and earthquake coverage, up to $ 5 million for eligible locations; Motor Truck Freight, up to $ 250,000 per engine / $ 500,000 per occurrence, fleets up to 10 engines and target modes, including dry vans / crates, refrigerated freight, flatbed and container freight, and optional spoilage / freeze protection; According to an email from a spokesperson, the equipment limit for eq...