Applied Releases Commercial Lines Premium Rate Index Findings for Q3 2023
Toronto, ON, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Applied Systems® today announced the third quarter 2023 results of the Applied Commercial Index™, the Canadian insurance industry’s premium rate index.
- Toronto, ON, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Applied Systems® today announced the third quarter 2023 results of the Applied Commercial Index™, the Canadian insurance industry’s premium rate index.
- Overall, rates remain high in Q3 2023, but saw a decrease from the same quarter year prior (8.46% in Q3 2022) to 7.27% in Q3 2023.
- Quarter over quarter, Q3 2023 results showed average renewal rate change decreased across Business and Professional Services, Retail Services and Hospitality Services.
- Average renewal rate change for Construction and Real Estate Property increased in Q3 2023 compared to Q2 2023.