Applied Systems, a global provider of cloud-based software that powers insurance businesses, has released the third quarter results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index.
The index shows that average premium rates increased year-over-year in Q3, while quarterly rate change experienced variability across the most commonly placed commercial lines of business
Overall, Applied reported that rates saw a depressed increase of 8.46% in Q3 2022 relative to the rate increase of 8.76% in Q3 2021.
