NU Online News Service, Sept. 13, 1:51 p.m. EDT
Commercial-insurance prices increased by almost 1.5 percent in the 2011 second quarter after the first quarter remained flat, indicating that the market may be hardening, according to Towers Watson's most recent Commercial Lines Insurance Pricing Survey (CLIPS).
Towers Watson says its survey results, which uses data by 38 insurers representing about 20 percent of the U.S. commercial-insurance market, is consistent with a CFO survey it will be releasing soon, in which 75 percent of respondents say standard property-market prices were at the bottom or turning upward.
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