Companies will find it more difficult to insure themselves well in 2023

Reinsurers (the insurance companies’ insurers) have just raised their rates by more than 10% on average. 520623035/Cavan Images – stock.adobe.com

The insurance companies will increase the rates further. Deductibles are up and guarantees are down.

It’s an added headache for businesses already struggling with runaway inflation and supply problems. As the end of the year approaches, negotiations on the renewal of insurance contracts are very tense. For the third year in a row, insurers have planned to raise their rates in 2023. Thus, premiums should increase by 5 to 10% on average, or even 30 to 50% for certain very sensitive risks, notes the Association pour le management business risk and insurance (Amrae ). The latter carried out an assessment of the market with brokers such as Aon, Verlingue, Marsh or Diot-Siaci. “Premiums have increased for two years due to the health crisis, explains Alain Ronot, vice president and treasurer of Amrae. We thought the market would stabilize this year. But this is not the case due to inflation and reinsurers raising their rates disproportionately.

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