Property pricing up 6% in Q2
Insurance pricing in the UK increased by 11% in the second quarter of the year but this was down on the 20% rise in Q1 of 2022, according to the latest research by Marsh.
Property insurance pricing increased by 6% as pricing was challenging for clients with natural catastrophe exposures and in the food, waste, warehousing, and chemical industries. It had been up by 9% in the first quarter.
According to Marsh’s research, more clients with low/medium hazard risks experienced rate reductions and some insurers sought to offset challenging exposures by packaging property coverage with motor and casualty.
Underwriters demonstrated concern with valuation, putting
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