Global commercial insurance prices increased by 2% in the fourth quarter of 2018, the fifth straight quarterly increase, driven by property and financial and professional coverage, Marsh LLC said in a report on Monday.
Combined prices increased in all regions for the first time since the survey started in 2012, according to the Global Global Market Market Index report for the fourth quarter of 2018.
Price increases for financial and professional lines were experienced in all global regions, especially in Australia where prices rose with 30% on certain board members and officials and risks for financial institutions, the report says.
Pricing for financial and professional debt increased by 4.7 per cent in all global regions and by 1
"While pricing for real estate and financial and professional lines has risen globally for five straight quarters, market capacity remains strong in most geographies," said Dean Dean Klisura, President of Global Placement and Specialties at Marsh, in a statement. than 3.5% globally, according to previous quarters, the report noted.
In the US, property prices increased by 3.8% and have increased every month since October 2017, resulting in an increase of nearly 7% stored programs (gross premiums $ 1 million plus), according to the report.
Average global damages prices declined 1.1%, a trend of year-on-year reductions continued back to 2013, according to the US report.
In the US reduced damages prices by 2% and has now fallen by only a quarter since 2014, driven by 4.4% labor compensation price declines, Marsh said. 0.4%, said the report.
The total insurance price in the US in the fourth quarter increased by 0.4%, according to the report.