Global insurance pricing is on the rise. According to Marsh’s latest Global Insurance Market Index, all three major product lines – property, casualty, and financial and professional – are showing rate increases. As of September 2019, there had been eight straight quarters of global insurance price increases reported in the brokerage giant’s market index.
In the most hard-hit sectors and geographies, people are starting to throw about the term “hard insurance market” with increasing frequency. But what does that actually mean? Here are eight characteristics that typically emerge during a hard insurance market:
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