Worldwide commercial insurance rates rise 19 percent in Q2 2020

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The COVID-19 coronavirus pandemic crisis and other sizeable losses played a role, says Marsh research. Worldwide average commercial insurance rates rose by 19 percent during this year’s second quarter, says the Global Insurance Market Index issued by Marsh. The broker and risk adviser recorded the largest premiums hike since the index began in 2012. The commercial insurance rates increase follows other substantial year over year average increases. In Q1 2020, there was a 14 percent rise, and in Q4 2019, there was an 11 percent rise. As was the case…

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Insurance news on a global scale shows solidification of rates

International Insurance News

Marsh has now released its latest quarterly briefing on the state of the market and its trends. The most recent report released by Marsh has shown that the insurance news from around the world appears to indicate that the rates have been solidifying throughout the entire first quarter of the year. This firming trend is continuing one that has been continuing over the last year and a half. The insurance news report from Marsh showed that several parts of the globe have, overall, experienced a relatively stable rate environment. The…

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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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