Insurance premiums will skyrocket 8% in 2022

Inflation has a big impact on households. But that’s not all. By 2022, professional premiums are expected to rise by 8%.

Insurance costs money.And in 2022, the latter is pretty Augment Reveal Cooper for professionals and businesses (1).. In the latest survey, professional insurance broker specialists compared their data to publicly available information and data from 14 partners.

result? Professional insurance of all kinds sees prices rising. Also, if the growth of certain products, such as professional car insurance (+ 2%), remains restrained, premiums for other products will skyrocket. + 10% Multi-risk insurance and + 12% For professional compensation insurance.

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The biggest increase isCyber ​​and fraud insurance (+ 27%). By 2021, cyber insurance contributions had already increased. 15 20%According to the Association for Corporate Risk and Insurance Management.

Average increase in professional insurance premiums in 2022
guarantee Average increase in 2022
Business car insurance + 2%
Group insurance (mutual and provider) + 4%
Professional mutual + 4%
Occupational pension + 6%
Professional liability insurance + 12%
10 year warranty + 4%
Cyber ​​and fraud insurance + 27%
Liability insurance for managers + 7%
Multi-risk insurance (including operating loss) + 10%
average + 8%

Micro entrepreneurs are most affected by these increases. For a self-employed building contractor who pays an average of € 1100 for 10-year insurance, € 420 for mutual insurance and € 530 for funded insurance: Almost 100 euros Increased, detailed Cooper.

Why will professional insurance increase in 2022?

Increase is mainly a concern Non-life insurance (Professional liability, automotive and professional multi-risk). The problems are the recovery of inflation, more frequent natural disasters, and the low interest rate environment that undermines insurers’ profits.The Personal insurance On the other hand, (mutual, welfare, etc.) has hardly increased, especially because medical expenses have decreased due to the medical crisis.

As the number of attacks increases, cyber insurance is experiencing significant price increases. According to the France Assureurs Association, climate change-related cyberattacks and natural disasters actually occupy the main risk podium identified by insurers in 2022. While companies are paying more and more attention to cyber insurance products, insurers are going against the trend: More selective The insurance premium will be greatly increased. Cooper explains that recent attacks have reduced the appetite of insurers who are not yet fully aware of the dangers of this market.

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The sharp increase in insurance premiums is mainly Contracts already in progressInsurance companies Attractive call charges For their new customers.Many customers are uncomfortable and surprised when renewing their contract Tariffs will be raised I suffered. As a broker, especially for those who are already paying, it’s always a difficult factor to explain. Premium procurementInsurance expert and Coover co-founder Pierre Fruchard, who has not declared a claim and is experiencing complex situations, explains.

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(1) Studies cross-referenced with available public data conducted with 14 Cooper partners between January and February 2022.