Commercial insurance prices continue to steadily rise, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) from Towers Watson. Prices rose by 6 percent in aggregate during the second quarter of 2013, marking the 10th consecutive quarter of price increases. Commercial insurance prices increased almost 7 percent during Q1 2013.
For the most recent survey, the global professional services company compared pricing data reported by carriers on policies underwritten during the second quarter of 2013 to those charged for the same coverage during the second quarter of 2012 and found that workers’ comp and employment practices liability lines experienced the largest year-over-year price increases, as has been the case since the third quarter of 2012.
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