Authored by Sara Weathers

According to a recent Insurance Journal article, U.S. commercial insurance rates grew during the fourth quarter of 2022 by 4.8%. This was down from 5.2% in quarter 3 of 2022.

While rates still showed an increase, the director of Insurance Consulting and Technology, Yi Jing, said the market is starting to show a stabilization trend.

The data also showed price increases for most lines of insurance, except for directors & officers liability insurance which saw a decrease in the market from quarter three. Cyber insurance saw an increase again, but its price increase has slowed down when compared to previous quarters.

For more on insurance rates, check out Insurance Journal’s article.

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Photo Credit: yuriisokolov, 123rf.com