Commercial insurers, like many other businesses are facing difficult economic times, fraught with uncertainty — which has had a significant impact on pricing over the last year.
According to the latest Commercial Lines Insurance Pricing Survey (CLIPS) from global advisory, broking and solutions company Willis Towers Watson, for the fifth straight quarter, commercial insurance prices in the U.S. were nearly flat. The survey compared prices charged on policies written during the fourth quarter of 2016 to those charged for the same coverage during the equivalent quarter in 2015.
The survey found that most price changes were comparable with those reported in the third quarter 2016. Data for workers' compensation and commercial property lines, however, showed modest price decreases, while data on the directors and officers (D&O) line indicated more significant price reductions.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
