Aon PLC customers are still facing increases in board members and executives, but at a slower pace, according to a report released on Monday.
Average price per million, adjusted for certain items, increased by 7.7% during the second quarter, according to the report. This can be compared with the 30% increase that the broker reported for the first quarter and the 46.6% increase for the fourth quarter.
The price per million during the second quarter for customers who renewed both 2021 and 2020 second quarters increased by 9%.
A total of 93% of the primary policy renewed with the same limit and deductible had a price increase and only 3% had a reduction, according to the report.
The total price increase for primary policies renewed with the same limit and deductible was 1
A total of 92.5% of the primary policy was renewed with the same limit; 65.3% is renewed with the same deductible; 61.2% are renewed with the same limits and deductible; and 92.5% were renewed with the same insurer.
The report said that the increase in the second quarter represented the 14th quarter in a row of price increases compared to the previous year, which followed 18 quarterly price reductions in the previous four years.
D&O liability insurance prices continued to rise on July 1, but in smaller steps than in recent renewals, and many experts predict that interest rates may be flat by the middle of next year. Catalog