The stats: Commercial premiums – double trouble as rates continue to bite
Along with the cost of living, the cost of insurance looks set to keep rising too, according to the most recent Acturis Commercial Broking Index. Rachel Gordon reports
Looking at year-on-year comparatives for Q4, the Acturis index shows a 1.9% rise in average premium, from 1.9% in 2020 to 3.8% in 2021, so effectively a doubling.
Notably, the first two quarters of 2021 saw relatively small rises but this gathered pace and both Q3 and Q4 premiums were close to 4% higher than the same quarters in 2020.
Overall, the index experienced its third consecutive year of growth in 2021, with premiums going up 2.5% since 2020. It is now at its highest value since
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Arch goes live on Applied
Applied has confirmed that Arch Insurance has launched a specialist property owners insurance product on its commercial e-trading panel.
Biba 2024: FCA to take its time on transparency proposals
Emily Shepperd, chief operating officer of the Financial Conduct Authority, has said the regulator was “overwhelmed” at the response and amount of feedback to its transparency proposals, and that it is going to “really take our time” when considering any possible next steps.
Zurich ‘simplifying’ trading with broker team changes
Zurich has consolidated its commercial and retail distribution teams as it aims to make trading with brokers easier.
Biba 2024: Aviva not afraid of ‘tough’ conversations, but ‘categorially’ committed to broker PL, says MD Morris
Aviva has reiterated its commitment to brokered personal lines business, although it is not opposed to a bit of ‘tough’ love to maintain a consistent approach to the market.
Biba 2024: Brokers and insurers have huge role to play in raising awareness of Martyn’s Law
The insurance industry has a huge role to play in raising awareness of the incoming legislation aimed at protecting premises from terrorism attacks, the audience at the British Insurance Brokers’ Association’s 2024 conference has heard.
Biba Conference 2024 countdown: Zurich’s Jacqui Kelly
Jacqui Kelly, head of sales and distribution at Zurich, looks forward to the positive buzz, celebrating an important birthday and helping the industry become more inclusive.
Ecclesiastical seeks further schemes growth with new broker tool
Ecclesiastical has launched a digital portal, Schemes+, for brokers to help them manage their schemes more effectively, Insurance Age can reveal.
Brokers upbeat on 2024 growth – Aviva
Brokers are more optimistic about growth in the coming year than they have been since before 2020, according to Aviva, with 83% expecting their business to grow compared to 76% last year.
Most read
- ‘Not right’: Biba CEO Trudgill reveals sad letter of small broker crushed by regulation
- Jensten wholesale division split sees MD Simon Taylor exit
- Biba 2024: Aviva not afraid of ‘tough’ conversations, but ‘categorially’ committed to broker PL, says MD Morris