U.S. commercial insurance prices showed minimal gains during thefirst quarter of 2017, according to the latest "Commercial Lines Insurance Pricing Survey"(CLIPS) from Willis Towers Watson.
Analysts at the global advisory, broking and financial solutionscompany compared first-quarter (Q1) policy pricing this year to thesame period last year. They found that year-over-year commercialpolicy prices changed less than 1% for the sixth consecutivequarter.
Exercised considerable discipline
“The commercial P&C insurance market has exercised considerablediscipline as a whole over the past couple of years,” said SerhatGuven, Americas Property & Casualty sales practice leader,Willis Towers Watson. “Insurers have held theline on trading profitability for volume, while still responding asneeded to emerging trends.”
CLIPS data are based on both new and renewal business, andrepresent a cross section of U.S. property & casualtyinsurers.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
