Commercial insurance prices in the U.S. were again nearly flatduring the second quarter of 2017, according to thelatest Commercial Lines Insurance Pricing Survey(CLIPS) from Willis Towers Watson.

Price changes reported by carriers averaged less than 1% for theeighth consecutive quarter, following a moderating trend in priceincreases that began in the first quarter of 2013. The surveycompared prices charged on policies written during the secondquarter (Q2) of 2017 with those charged for the same coverageduring Q2 of 2016. 

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How Q2 fared

Price changes in the second quarter for most lines ofbusiness were fairly consistent with changes reported in the firstquarter. 

Data for three lines — Workers' Compensation, CommercialProperty, and Directors and Officers liability — indicatedmodest price decreases. Commercial Auto continues to trend as anoutlier in the company's survey. Price increases were againreported and appear to be accelerating. 

"Through the first half of 2017, preliminary data show only amodest deterioration in P&C commercial insurers' loss ratios ofless than 1%, driven by benign estimates of claim cost inflation,"said Pierre Laurin, Americas Property & Casualty sales andpractice leader for Insurance Consulting and Technology, WillisTowers Watson. "However, insurers are bracing for a significantvolume of complex commercial property claims, as well assignificant business interruption, commercial auto and multipleperil activity stemming from Harvey-related losses."

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