commercial insurance prices Archives

Marsh report showed US commercial insurance prices spiked in Q3 2020

November 9, 2020November 6, 2020 H. Cutner

There was an increase of 18 percent, primarily driven by higher property exposure rates. American commercial insurance prices rose by a striking 18 percent in this year’s third quarter, said a recent Marsh LLC report. The driving forces behind this sharp rise was higher rates for property exposures as well as for both financial and professional lines, said its authors. There was a 24 percent increase in US business property rates in the third quarter, said the report. That 24 percent property rate increase represents the largest spike in this…

Towers Watson report shows the cost of claims continues to outpace the rise in insurance pricing

December 14, 2011December 14, 2011 Marc

Towers Watson, a global professional services firm, has released a new report showing the rising prices in the commercial insurance industry. The report shows that commercial insurance prices have grown for the second consecutive year by an average of 2%. Property insurance and workers compensation are the two fields where the increases in pricing are most apparent. The property insurance market is being bolstered by a number of natural disasters that occurred throughout the year, which prompted insurers to raise rates and prices for new policies. While prices are rising,…

Towers Watson research shows commercial insurance prices are on the rise

September 14, 2011September 14, 2011 Nordstrom

The most recent Commercial Lines Insurance Pricing Survey (CLIPS) by Towers Watson, has shown that commercial insurance prices rose by an average of almost 1.5 percent during 2011’s second quarter, which is the first time that all standard commercial lines headed in an upward direction since 2003. The results of CLIPS align with the preliminary results that were obtained by a Towers Watson survey which will soon be released. They showed that 75 percent of CFOs feel that the standard property market prices have either hit the lowest point that…