Global commercial insurance prices continue to harden

Global commercial insurance prices increased 20 per cent in the third quarter of 2020, according to Marsh’s Global Insurance Market Index. The increase, the largest since the index was launched in 2012, follows year-over-year average increases of 19 per cent in the second quarter and 14 per cent in the first quarter. The average composite price increase of 20 per cent was driven principally by property insurance rates and financial and professional lines.