Price increases generally are good news for carriers and not so good news for customers, although most companies can tolerate modest increases as a cost of doing business.

Commercial customers will be pleased to learn that, although prices for commercial insurance increased in aggregate, the increase was only 2% during the first quarter of 2015, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) conducted by global professional services company Towers Watson. This survey compared prices charged on policies underwritten during the first quarter of 2015 to those charged for the same coverage during the first quarter of 2014.

The survey found that price increases for most insurance lines were in the low single digits, with the largest increase coming in commercial auto. The increase in employment practices liability prices remain moderate, however, as do commercial property prices, which still show small price decreases. Large account prices increased at a lower rate than small and mid-market accounts, according to the survey.