2024 Market Outlook: Commercial Property Insurance
2024 Market Outlook: Commercial Property Insurance https://domrisk.com/wp-content/uploads/2024/01/dra-commercial-property-1024x536.jpg 1024 536 Dominion Risk https://domrisk.com/wp-content/uploads/2024/01/dra-commercial-property-1024x536.jpgThe commercial property insurance market has faced rising premiums since 2017. While such rate jumps showed some signs of slowing in 2022 by largely remaining within single digits, this moderation didn’t last in 2023. According to industry data, commercial property insurance premiums surged by an average of 20.4% in the first quarter of 2023 alone, representing the first time the segment has seen average rate hikes above 20% in more than 20 years. In the…
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