According to the latest Towers Watson Commercial Lines Insurance Pricing Survey(CLIPS), commercial insurance prices increased by a modest 2%during the fourth quarter of 2014. This survey compared pricescharged on policies underwritten during the fourth quarter of 2014to those charged for the same coverage during the same quarter in2013.
|Survey data showed that loss ratios improved by 3% during 2014(excluding catastrophes), compared to an estimated improvement ofnearly 5% between 2012 and 2013.
|Carriers reported price increases in the low single digits formost lines—smaller than in the third quarter. Workers compensationprice increases continued a sharp downward trend, similarly todirectors and officers liability, where prices were reported asflat.
|Workers compensation price increases continued a sharp downwardtrend, similarly to directors and officers liability, where priceswere reported as flat.
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