For the fourth straight month, the prices have kept themselves relatively static, said a new report. According to a recent report that was issued for June by MarketScout, the commercial insurance rates haven’t moved very much at all over the last four months, with only one exception. In June, the business interruption line of insurance did see its rates slide downward when compared to May. That said, the decrease that the commercial insurance rates saw in the business interruption line was only by an average of one percent, so it…
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Towers Watson research shows commercial insurance prices are on the rise
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…
Read MoreNew Towers Watson study warns that insurance prices could be rising amidst a flat market.
A new study from Towers Watson, a worldwide professional services firm, has found that prices for commercials insurance have remained the same for the ninth successive quarter. Overall, prices for commercial property and management liability lines have decreased over the past two years. Workers compensation, however, saw a steep increase in the first quarter of this year. The study also finds that prices for other commercial lines of insurance have been steadily increasing. The director of Towers Watson’s Property & Casualty practice, Bruce Fell, notes that the increases in workers…
Read MoreCommercial insurance stays put but workers’ compensation is on the rise
According to the results of a newly released data report that verified the 2010 accident year’s deterioration of loss ratio, commercial insurance prices have remained pretty much the same for nine quarters in a row. The latest Commercial Lines Insurance Pricing Survey (CLIPS) by Towers Watson – the global professional services company – showed that management liability and commercial property lines have both continued to show decreases in price. That said, following the sizeable price reductions and then the comparatively flat indications since the start of 2011, the data involving…
Read MoreWorldwide disasters push commercial insurance rates higher
In the past 16 months, natural disasters all over the world have cost the insurance industry more than $100 billion. The financial impact of these catastrophes is compounded by the worldwide recession which severely impaired the industry as a whole. Insurers are struggling to reassert themselves in the world as the economy improves, and the only way to do so is by offsetting the cost of natural disasters with higher insurance premiums. Some commercial companies have already begun the process, raising rates on commercial insurance for the first time in…
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