Rates in the global insurance market are generally firming, according to the recently launched Marsh Risk Management Global Insurance Index. In the second quarter, renewal rates were up 1.4% from the same period last year.
The index tracks rate changes for Marsh clients in 20 major countries that renewed their casualty, property or financial and professional insurance coverage during the quarter.
In the U.S., the value of average property risk exposures increased 1.9% in the second quarter, compared with a 1.3% increase in the first quarter. Roughly 60% of U.S. companies saw an increase in their property rates.
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