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RESEARCH AND BRIEFINGS

Global Insurance Market Quarterly Briefing – Q3 2013

 


In the US, the composite rate rose 1.9%, led by increases in casualty and financial and professional lines. US casualty insurance rates rose at a faster pace in the quarter, driven by increases in workers' compensation, particularly on guaranteed cost business and those risks with large employee concentrations.

Global insurance rates fell marginally in the third quarter of 2013, leading to a modest decline in the Marsh Risk Management Global Insurance Index. The indices for the Asia-Pacific, Continental Europe, and Latin America regions all showed decreases. US insurance markets proved the exception, with overall rates showing a slight increase.

The Global Insurance Market Quarterly Briefing reports changes in global insurance rates as reflected by the Marsh Risk Management Global Insurance Index, a composite or weighted average of rate change activity over the preceding four quarters. According to the report:

  • Global property rates fell for the fifth quarter in a row.
  • Casualty rates rose 0.7% globally, primarily a result of increases in the US.
  • Liability rates were stable or declined in most markets.
  • Roughly half of US insureds experienced rate increases at renewal.

To view the full report, please download the PDF.

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Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.

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