UK commercial rates falling faster – Marsh
The pace of UK commercial insurance rates dropping quickened in the first quarter of the year, outstripping the global fall.
UK rates declined by 6% compared with 3% around the world, according to Marsh.
The speed of the drop in the UK was the fastest since it started falling at the start of 2024, accelerating from 5% in Q3 and Q4.
The biggest fall in January to March came in UK financial and professional lines.
In the first quarter, 78% of cyber clients received rate reductions as insurer competition increasedMarsh
Rates in the sector were down 10%, with directors and officers liability lower by up to this amount.
Marsh
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