Acturis Commercial Broking Index Q1 2023 Report

The document is a report detailing the Acturis Commercial Broking Index for the first quarter of 2023. It presents data indicating that premiums for commercial insurance have continued to rise, with an overall increase of 4.5% compared to the same quarter in the previous year. The report outlines that property owners are the main drivers of this increase, with premiums rising by 9.3% in Q1 2023. It also discusses the challenges faced by brokers in conveying these changes to clients, particularly in light of ongoing market disruptions and inflationary pressures affecting construction and insurance costs. The index covers six core lines of business, including commercial combined, commercial liability, fleet, packages, property owners, and tradespeople, and highlights the specific movements in average premiums across these categories. The report notes that while some classes have seen smaller increases, the overall trend indicates a challenging environment for insurance buyers, with no immediate relief in sight.