Property Market Dynamics Report

Property Market Dynamics Report
Q4 2024

Property Market Dynamics Report

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Aon's Commercial Property Market Report and Insights

Leveraging proprietary Aon data, Aon’s Property Market Dynamics Report captures the state of the insurance industry with a focus on changes in rates, limits, deductibles/retentions, coverage, capacity and losses. In the Q4 2024 edition of the report, Aon analysts look at the impact of Hurricanes Helene and Milton on the insurance marketplace, the continued moderation in rates, and strategies to employ in Q4 2024 and Q1 2025 program renewals. The report also looks at Q1-Q3 2024 U.S. economic and insured losses, as well as economic indicators that may have an impact on the property insurance market, as well as enhancements to the Aon Client Treaty.

High-Level Synopsis

The average property rate change for Q3 2024 is -1.91%, down further from -0.94% in Q2 2024. This marks the second consecutive quarter with an average overall rate change in negative territory. 

  • -1.91

    The average property rate change decreased from -0.94% in Q2 2024 to -1.91% in Q3 2024.

  • 1.58

    The average rate change for single carrier accounts quarter-over-quarter was 1.58%, down from 3.10% in the prior quarter.

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