Commercial insurance prices in the U.S. increased by more than two percent in the third quarter of 2018, according to the Willis Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS).
The survey compared prices charged on policies written during the third quarter of 2018 to those charged for the same coverage during the third quarter in 2017.
Price changes for most lines were similar to those reported last quarter. Three lines – commercial automobiles, commercial property and more / umbrella debt – showed material price increases. Worker compensation, contrary to all other surveyed lines, continued to reduce prices, he said.
While comparing the survey results with the account size, price changes are once again positive and similar in all segments. Mid-size and large account price corrections have been reported recently for smaller accounts, with larger increases.
Edi Significant price increases can be a response signal spoken to the emergence of trends of negative loss beyond the second quarter until the second quarter, in said Ben Williams, director, Insurance Consulting and Technology, Willis Towers Watson. . As in the past and perhaps not surprisingly, small accounts seem to have acted as the leading indicator of increases. Middle market and big accounts catching up with the big increases this quarter Orta
CLIPS analyzes data from participants representing a segment of US property / accident insurance insurers, including most of the top 10 commercial line companies in the US and most of the 25 largest insurance groups.
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