Marsh has released the latest edition of its Global Insurance Market Index, the broking giant’s proprietary measure of global commercial insurance rate change at renewal.
According to Marsh, global commercial insurance rates increased by 2% in the fourth quarter of 2023. In Q3, the change was a 3% increase.
“Rates continued to be relatively consistent across almost all regions in Q4,” Marsh noted. “As with Q3 and Q2, this was largely driven by a continuation of the trend for pricing decreases in financial and professional lines and a small decrease for rates in the cyber insurance market.
