Korea led the region’s softening with a 17% composite rate drop, while Taiwan and Hong Kong SAR also posted double-digit declines, according to Marsh data.
The expanded programme allows policyholders to use credits for a wider range of loss-prevention projects identified through FM’s engineering assessments.
Property and casualty insurance rates in the region fell 5% and 3% respectively, according to Marsh data, with financial and professional lines recording the steepest drop at 8%.
Losses from hotels, retailers and vehicle dealers already exceed billions of rupees, raising concerns over insurers’ capital strength and Nepal Re’s capacity to absorb claims.
