Inflation Is Latest Driver of Rise in Business Insurance Costs

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U.S. companies are paying extra for insurance coverage, however in contrast to different greater prices tied to inflation this has been occurring for a number of years now. The excellent news is the worth will increase seem like slowing.

Business insurance coverage costs within the U.S. rose 12% on common on this yr’s first quarter, in contrast with the year-earlier interval, in keeping with the Marsh brokerage unit of Marsh McLennan. Many companies have confronted double-digit annual price will increase since 2019, as insurers put a worth conflict behind them.

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