Insurers Look to Cyber, M&A Coverage as Prices Decline for 9th Quarter: Marsh
Monday, 08 17 2015, Category: Insurance and Reinsurance, Country: World
Commercial insurance rates continued their global decline in the 2015 second quarter, a trend driven by a continued abundance of global capacity and a lack of large insured loss activity, Marsh said in its latest Global Insurance Market Quarterly Briefing.
At the same time, property/casualty insurers are increasingly looking to specialty coverages including cyber and transactional risk insurance for mergers and acquisitions (M&A) as a way to grow, the report says.
As of Q2, there have been nine consecutive quarters of overall rate declines, Marsh said.
Globally, natural catastrophe losses are at historic lows, which is helping profitability but also reducing the drive for rate increases, according to Marsh.
Source: Insurance Journal