UK commercial pricing downturn accelerates – Marsh
UK insurance rates fell 5% in the third quarter, the fastest rate of decline since the drop started at the start of 2024, according to research by Marsh.
After ending 2023 flat, commercial insurance rates slipped by 2% in the first quarter of this year and by 3% in Q2.
Marsh’s Global Insurance Market Index listed pricing reductions in property, financial and professional lines, and cyber with only casualty bucking the trend but only due to motor liability.
Property insurance rates decreased 4% in the period, double the figure from Q2. However, the broker flagged that flooding in Europe and the hurricane season in North America were being watched
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