Insurance premium rates surge in Pacific region: Marsh

Source: Business Insurance

August 13, 2019 A report found that insurance rates jumped more than 18% in the Pacific region in the second quarter of this year compared with a nearly 6% hike worldwide, Asia Insurance Review reported. The report by U.S.-based insurance broker Marsh & McLennan Cos. Inc. found that property insurance prices increased by nearly 18% while casualty rates rose almost 6% in the Pacific region.