Global commercial insurance rates increase by 6%

A report by insurance broker Marsh LLC said that global commercial insurance prices increased 6% in the third quarter of the year, with rates in Asia and Pacific regions increasing by 2% and 5%, respectively, Strategic Risk reported. The global rate increase is lower than the 9% increase in the second quarter of the year, reflecting a slowdown in the growth momentum and the tough conditions faced by the businesses amid inflation and geopolitical instability.