Commercial property rate increases have fallen dramatically this renewal period, down from rises of more than 50% last year.
Royal & SunAlliance technical underwriting director Colin Short said tha ...
Commercial property rate increases have fallen dramatically this renewal period, down from rises of more than 50% last year.
Royal & SunAlliance technical underwriting director Colin Short said that commercial property rates would increase by an average of just 10%-15% this year.
"I wouldn't say they're going down, but it's a long way from the 50% increases of last year," Short said.
He said a shortage of capacity for commercial property, increasing claims and several years of delayed rate rises combined to send rates up by more than 50%.