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Commercial rates a mixed bag, US study shows

US commercial insurance prices increased by less than 1% in the second quarter, according to Willis Towers Watson.

The global advisory group’s latest Commercial Lines Insurance Pricing Survey (CLIPS) compares rates on policies underwritten in the June quarter with those from the corresponding period last year.

Workers’ compensation, commercial property, and directors’ and officers’ recorded declines, while commercial auto increased.

“The survey results continue to highlight the different realities of the commercial market,” Americas Property and Casualty Insurance Practice Director Alejandra Nolibos said.

“Yes, the overall result is a modest increase in prices. But that simple measure masks opposing and persistent trends by line worth paying attention to.”

The CLIPS second-quarter survey is based on new and renewal price data from insurers that account for about 20% of the US commercial insurance market.