Commercial insurance prices in the U.S. were again nearly flat during the third quarter of 2017, according to Willis Towers Watson's Commercial Lines Insurance Pricing Survey (CLIPS).
The survey compared prices charged on policies written during the third quarter of 2017 with those charged for the same coverage during the equivalent quarter in 2016.
Price changes reported by carriers averaged less than 1% for the ninth consecutive quarter, following a moderating trend in price increases that began in the first quarter of 2013.
Recommended For You
For most lines of business, the price changes in the third quarter were fairly consistent with changes reported in the second quarter.
Improvement in Loss Ratios
"Through three quarters of 2017, preliminary data indicate little movement in P&C commercial insurers' loss ratios (excluding the impact of catastrophes)—an improvement from last quarter—as insurers revised downward their earlier initial estimates of claim cost inflation," said Pierre Laurin, Americas Property and Casualty sales and practice leader for Insurance Consulting and Technology at Willis Towers Watson.
Data for workers compensation and directors and officers' liability indicated modest price decreases, while commercial property prices moved towards moderation with only a slight decrease.
The outlier in the survey results continues to be commercial auto, where meaningful price increases were again reported and have been accelerating. For most other lines, price changes fell in the low single digits. Price changes were positive for small account sizes and fairly flat for mid-market and large accounts.
From: PropertyCasualty360
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
