Most lines experienced moderation in premium pricing increases in Q1 2023. Results from the survey showed an average increase of 8.8% across all account sizes, up slightly from the 8.0% recorded the previous quarter.
The second quarter of 2022 marked the 19th consecutive quarter of commercial price increases with continued easing in the market and average price increases of 6.1% across all lines of business.
Premiums continued to increase in the first quarter of 2022, according to results from CIAB’s Commercial Property/Casualty Market Index. However, there were signs that market conditions may have eased slightly this quarter.