Another quarter brings another round of price increases for global commercial insurance. This time, prices jumped by 22% in Q4 of 2020, according to Marsh’s “Global Insurance Market Index.”
The latest increase is the largest since the index was launched in 2012, and it comes on the back of year-on-year average increases of 20% in the third quarter and 19% in the second quarter of 2020.
Nonetheless, there is some good news, as the index revealed that price increases could be starting to plateau for some lines of insurance, but only in certain geographies.
For instance, property insurance, and directors