The Marsh Global Insurance Market Index is a proprietary measure of commercial insurance premium pricing change at renewal. The pricing change captures year-over-year pricing movement, which is measured quarterly. (Photo: Shutterstock)
Global commercial insurance prices rose by 3% on average in the first quarter of 2019, marking a sixth consecutive quarter of increases, according to the Marsh Global Insurance Market Index.
(Photo: Marsh) It was, again, largely driven by property and directors and officers (D&O) lines of coverage. Pricing for property risks increased 4.7%, a larger increase than in recent quarters. Property rates have increased globally every quarter since the catastrophe events in the fourth quarter of 2017. Financial and professional line pricing (primarily D&O) continued to accelerate, increasing 5.6%.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
