U.S. Commercial Insurance Prices Remain Nearly Flat in Second Quarter
Commercial insurance prices in the
Price changes in the second quarter for most lines of business were fairly consistent with changes reported in the first quarter. Data for three lines (workers compensation, commercial property, and directors and officers liability) indicated modest price decreases. The outlier in the survey results continues to be commercial auto, where meaningful price increases were again reported and appear to be accelerating. For most other lines, price changes fell in the low single digits. Price changes were slightly positive for small accounts, and flat for mid-market and large accounts.
"Through the first half of 2017, preliminary data show only a modest deterioration in P&C commercial insurers' loss ratios of less than 1%, driven by benign estimates of claim cost inflation," said
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CLIPS data are based on both new and renewal business figures obtained directly from carriers underwriting the business. CLIPS participants represent a cross section of
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