UK commercial rates still falling by 5% – Marsh
UK insurance rates fell by 5% in the final quarter of last year, maintaining the speed of decline seen in Q3, according to Marsh, with financial and professional lines as well as cyber seeing the steepest declines.
Directors’ and officers’ drove the drop in financial and professional lines, with the overall rates across the sector falling 8% in September to December.
The rating has been heading downwards since the final quarter of 2022, but the latest reduction was smaller than the 10% posted in Q3.
In cyber insurance, rates decreased 6% at the end of 2024. The softening was in line with the previous quarters of 8% in Q3 and 7% in both Q1 and Q2.
Marsh noted: “Since the second half of 2022, the cyber
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