According to Marsh’s Global Insurance Market Index for Q2 2024, global commercial insurance rates remained flat after 26 consecutive quarters of increases, marking the first such stagnation since Q3 2017. Average rates saw declines in Canada and the Pacific regions, while the US and Europe experienced slight increases. The report highlights that the property insurance market is closely monitoring the Atlantic hurricane season, as its activity may affect rates, which were flat overall in this sector. Casualty lines rates maintained a 3% increase globally, reflecting ongoing concerns over large jury awards in US courts.
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