Global average commercial insurance prices rose by 19% in the second quarter of 2020, according to a new report by Marsh. The increase, the largest since Marsh’s Global Insurance Market Index was released in 2012, follows average year-over-year increases of 14% in Q1 and 11% in the fourth quarter of 2019.
Average price increases were driven primarily by increases in property insurance rates and financial and professional lines, Marsh reported. Other findings of the survey included:
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