Global commercial insurance pricing up across lines in Q4

“Although we are seeing signs that price increases are beginning to plateau in some lines, our clients continue to face tough trading,” said Lucy Clarke, president of Marsh JLT Specialty and Marsh Global Placement. (Credit: PopTika/Shutterstock.com)

Average worldwide prices for commercial insurance increased 22% during the final quarter of 2020, according to the Global Insurance Market Index by Marsh, which reported this was the largest year-on-year increase since the index began tracking the data in 2012.

While the fourth quarter saw pricing hit a record, the gains were in line with preceding periods, Marsh reported, with the third quarter seeing a 20% gain and 19% growth in Q2 2020.