Property insurance rates experience “modest” increase in US

Property insurance News commercial P&C insurance

A survey has indicated that American commercial policy rates have increased just slightly. The results of a new survey that was conducted by Towers Watson & Co. has revealed that the price of commercial property insurance in the United States rose slightly during the first quarter of 2012. It also indicated that business employment practices liability and workers compensation rose during that time. The rise that was experienced in the commercial property insurance rates from the last quarter of 2012 to the first quarter of 2013 was – according to…

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Marsh & McLennan herald turning of property insurance market

Property insurance rates on the rise. Marsh & McLennan Companies, a global risk and insurance services firm, has begun claiming that property insurance rates all over the world are on the rise. The increase in these rates suggests a solidifying of the global market and could be an implication of an improving economy. Marsh notes that consumers are paying more for their insurance coverage due to the high frequency of natural disasters in the past two years. Another factor that is contributing to higher rates the way insurance companies are…

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Federal Government’s response to Natural Disaster Insurance Review called inadequate by opposition

The response of the Federal Government to the Natural Disaster Insurance Review has just released, and the opposition is not pleased with what they have seen. The Government has decided that it will be introducing a new standard definition for the concept of a “flood”, and has announced that it is also considering making flood coverage a required inclusion in all standard homeowners’ and contents policies. However, for the majority of the 47 total recommendations that were made by the review, the Government deferred a decision, stating that it is…

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