UK commercial insurance price rises ease again in Q1 – Marsh
Commercial insurance pricing in the UK rose by 3% in the first quarter of the year, down slightly on the 4% uplift in the final quarter of 2022, according to research by Marsh.
The pace of commercial pricing hikes has moderated steadily in recent quarters, in Q1 2022 it stood at 20% having been as high as 44% in Q4 2020.
In the latest results, while cyber still had the biggest quarterly increase, of 10%, it was also the line where the hardening rate eased the most. It jumped by 34% in Q4 2022.
The latest figure also stood in marked contrast to the first quarter of last year when cyber pricing soared 102%.
Marsh flagged the market increased competition from incumbent
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