Prices for all standard commercial insurance lines rose for the fifth consecutive quarter, with commercial lines increasing 5 percent in aggregate, according Towers Watson’s “Commercial Lines Insurance Pricing Survey” (CLIPS), which compared the Q1 2012 prices of policies with those of the same period last year.
“We are seeing a continuing trend of price-level increases in the commercial insurance marketplace,” said Thomas Hettinger, property/casualty sales and practice leader for the Americas at Towers Watson. “This quarter, the industry reached a significant threshold — an aggregate price increase of nearly 5 percent — the largest quarterly increase we’ve seen since 2004.”
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