Soaring property owners’ premiums hit record high
Property owners’ premiums rose by 9.3%, according to recent figures for the first quarter of 2023 from Acturis, which will be published by Insurance Age on Monday 12 June.
This is the biggest increase for this sector since the Acturis Commercial Broking Index began in 2011.
The index tracks core business lines each quarter, and measures them against the same quarter in the previous year.
In the fourth quarter of 2022, property owners saw a 6.1% year-on-year rise, meaning that premiums have since continued to rise further – and rapidly.
Insurers have had to rethink what they are able to offer and make changes to cover. Chris Withers
However, property
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