US Property Insurance Rates Fall for First Time Since 2017
This article is for subscribers only.
US property insurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes.
The average US property insurance rate decreased 0.94% in the second quarter from a year earlier, following several periods of softening increases over the past year, according to a property market report from Aon Plc. It’s the first time rates have decreased since the third quarter of 2017.