Commercial P&C rate increases accelerate to 8.9% in Q3 as cyber jumps by 27.6%: CIAB
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Commercial P&C rate increases accelerate to 8.9% in Q3 as cyber jumps by 27.6%: CIAB

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Commercial P&C rate increases accelerated to 8.9% in the third quarter, ahead of the 8.3% gain in the second quarter, led by a record 27.6% jump in cyber pricing, the latest pricing survey by the Council of Insurance Agents & Brokers (CIAB) showed.

The pickup in cyber rates marks an advance from the 25.5% increase in the second quarter, though the rate strengthening for the line is less drastic than between the first and second quarters.

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