Property pricing up 9% in Q1
Insurance pricing in the UK increased by 20% in the first quarter of the year but this was down on the 22% rise in Q4 2021, according to the latest research by Marsh.
Property insurance pricing increased 9% with significant pricing increases imposed on clients with major loss activity or a challenging occupancy or business process, such as food production, warehousing, or waste recycling, the broking giant reported.
In its view insurers have moved from seeking to impose blanket price increases to targeting specific areas of the book they believe are underpriced or impacted by loss. Providers have also shown greater ambition to grow their books to take
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