Global Insurance Market Quarterly Briefing – March 2015
Headline cyber losses in the US presaged hardening in the fourth quarter for this line of business, evidenced by a modest rise in rates, one of the few areas of increase.
The Marsh Global Insurance Index showed rate decreases for the fourth quarter of 2014 compared to the fourth quarter of 2013, marking the seventh consecutive quarter of decline. According to the report:
- The property line showed the largest renewal rate decreases in the quarter across all regions.
- Casualty insurance rates, on average, also decreased in all major regions.
- Though cyber insurance rates rose modestly in the US, overall financial and professional liability renewal rates for financial institutions remained essentially flat in the fourth quarter.
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