Commercial-insurance rates climbed by almost 7 percent in Q4 2012 compared to the same period in 2011, a recent survey shows, although the upward-rate acceleration seen since the start of 2011 appears to have slowed.
Towers Watson's latest Commercial Lines Insurance Pricing survey (CLIPS) shows commercial-rate increases across all lines for the fourth quarter in a row in Q4 2012. It is the eighth consecutive quarter of an aggregate commercial-lines increase.
However, compared to Towers Watson's previous CLIPS survey, rates did not move much. "Although commercial insurance prices continued their year-over-year upward trend, movements from the prior survey were slight, indicating a pause in the acceleration observed since the start of 2011," Towers Watson says. "These price-change indications were generally consistent with price increases from the prior survey, except for specialty lines, where the survey indicated somewhat larger gains than were reported in the third quarter."
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