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Q1 2024 U.S. Business Insurance Market Observations

The U.S. Business Insurance Market Observations report combines insights from Marsh McLennan Agency colleagues and market research to bring you up to speed on commercial insurance market trends each quarter. Our report equips you with the information you need to make informed decisions and remain resilient—no matter your industry.

“Taken as a whole, we believe that broad P&C rates will remain firm throughout 2024 and likely 2025, though at a slowly moderating pace.”

-ALIRT Insurance Research

The Big Picture

Global commercial insurance prices rose 1% in the first quarter of 2024, and 3% for the U.S.—the twenty-sixth consecutive quarter of price increases tracked in the Marsh Global Insurance Market Index.

U.S. Insurance Rates – First Quarter

8%

Baseline property rate increases for larger risks, accounts with loss history challenges and/or catastrophe-exposed properties may be higher

4%

Increase in U.S. composite casualty insurance index pricing

-5%

Average rate decrease for management and executive liability insurance renewals (excluding cyber)

What you need to know

Make sure you are up to date on relevant commercial insurance market trends impacting your business with our quarterly report.

Download the report.

Business Insurance Trends report

We surveyed business leaders like you to find out what is at the top of their minds this year. Interested in seeing how we can help?