Cyber Shows Signs of Stabilizing, Property Remains Hard
The Council of Insurance Agents & Brokers released its Q1 2023 P/C Market Survey.
Results showed that most lines experienced moderation in premium pricing increases in Q1, though premiums overall continued to rise for the 22nd consecutive quarter. Signs of relief were clearer for the cyber line of business this quarter. On the other hand, commercial property premiums spiked by 20.4% in Q1 2023, the first time since 2001 this line experienced an increase of over 20%.