Property rates to remain stagnant
Property rates could remain stagnant or even decrease in Q2 according to Aon despite recent positivity about rate increases.
Only 50% of underwriters have predicted an increase in property rates, according to the Aon's Market Pulse. This is a dramatic decrease from Q1 when 89% of insurers expected premiums to rise for this core cover.
However, Aon claimed that a drive for profits could tip the balance at any point. Aon's Market Pulse also showed that only 40% of casualty/liability underwriters believed rates would increase in Q2 compared to 88% in January for the same quarter, while 100% believed motor fleet insurance
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