The soft market persists as commercial insurance prices were relatively flat for the ninth consecutive quarter, new data from New York-based Towers Watson indicates.
According to the most recent “Commercial Lines Insurance Pricing Survey” (CLIPS), loss ratios deteriorated by 5% in accident-year 2010, as price reductions continued for commercial property and management liability lines. Bucking this downward trend was workers’ compensation lines, which showed a modest overall price increase in the first quarter of 2011.
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