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Commercial Prices Nearly Flat in Q1

According to Willis Towers Watson PLC’s Commercial Lines Insurance Pricing Survey (CLIPS), price changes reported by commercial insurers averaged less than 1 percent for the sixth consecutive quarter, following a moderating trend in price increases that began in the first quarter of 2013...
June 14, 2017

According to Willis Towers Watson PLC’s Commercial Lines Insurance Pricing Survey (CLIPS), price changes reported by commercial insurers averaged less than 1 percent for the sixth consecutive quarter, following a moderating trend in price increases that began in the first quarter of 2013. The CLIPS indicated that commercial insurance prices in the United States were nearly flat during the first quarter of 2017.

Price changes in the first quarter for most lines of business were fairly consistent with changes reported in the fourth quarter, said Willis Towers Watson. Four lines — workers’ compensation, commercial property, directors and officers, and surety — indicated modest price decreases. Price changes were fairly similar across segments, though slightly positive for small accounts, and flat for midmarket, large, and specialty accounts.

“Despite ample capital and benign claim cost inflation trends, the commercial P&C insurance market has exercised considerable discipline as a whole over the past couple of years,” said Serhat Guven, Willis Towers Watson’s Americas property and casualty sales practice leader.

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