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Effects of Covid-19 fuelled increasing commercial insurance costs

The Covid-19 pandemic and resulting economic slowdown has adversely affected insurers globally and is contributing to commercial insurance pricing increases and reduced capacity across many lines of business.
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Effects of Covid-19 fuelled increasing commercial insurance costs

Effects of Covid-19 fuelled increasing commercial insurance costs
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Commercial Insurance Price Hikes Begin to Moderate: Marsh

Commercial Insurance Price Hikes Begin to Moderate: Marsh
May 5, 2021
What’s more, rate hike moderation is expected to continue, according to the firm.
“Although we will continue to see price increases in some lines and the market overall will remain challenging for our clients, we expect price increases to continue to moderate through the rest of the year,” Lucy Clarke, president, Marsh Specialty and Marsh Global Placement, said in prepared remarks.
Pricing in the sector grew 18 percent in Q1, according to the report, but that’s down from 22 percent in the 2020 fourth quarter and 20 percent in Q3 2020. According to Marsh, commercial rate hikes dipped for the first time since global rates started rising in the 2017 fourth quarter. ....

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