U.S. commercial insurance rates have continued their upward trajectory through the fourth quarter of 2023, according to the latest findings from WTW’s Commercial Lines Insurance Pricing Survey (CLIPS). Carriers reported an aggregate commercial price increase of 6.7%, continuing a consecutive quarter upsurge over 6%.
Tag: insurance pricing
Marsh: Global Commercial Insurance Pricing Rose 4% in 1Q 2023
Global commercial insurance pricing rose 4% in the first quarter of 2023, the same as in the prior quarter.
KBW Predicts Modestly Better Terms and Pricing Across Some Coverage Lines in New Year
Analysts at Keefe, Bruyette & Woods have said that next year will see modestly better terms and pricing across lines other than catastrophe.
Chubb CEO Greenberg Says P/C Market ‘Reasonably Disciplined’ and Getting More Competitive
Property/casualty insurance pricing remains strong even while moderating somewhat over the second quarter, staying ahead of expected increases in loss costs, according to Chubb Ltd. CEO Evan Greenberg, speaking during the insurer’s quarterly earnings call. “The rate environment is naturally becoming a bit more competitive, particularly in certain casualty-related classes as more carriers seek to… Continue reading Chubb CEO Greenberg Says P/C Market ‘Reasonably Disciplined’ and Getting More Competitive
Premiums Rise in All Lines in Q1: MarketScout
Commercial insurance buyers saw single-digit average price increases across most lines through the first quarter of 2022, but signs point to upward pressure on rates in the future, according to MarketScout. “Rates in January and February were consistent with what was reflected in the last quarter of 2021,” commented Richard Kerr, CEO of MarketScout. “However,… Continue reading Premiums Rise in All Lines in Q1: MarketScout
Willis Towers Watson and Tia Technology Join Forces to Advance Insurance Pricing
Willis Towers Watson today announced that Tia Technology is joining its global Radar Live Collaboration program, becoming the first vendor to do so. The program will allow Willis Towers Watson to develop an ecosystem of leading policy and claims administration vendors and support faster integrations with Radar Live. Radar Live, Willis Towers Watson’s price delivery… Continue reading Willis Towers Watson and Tia Technology Join Forces to Advance Insurance Pricing
Commercial Insurance Pricing Increased in Fourth Quarter 2018
Global commercial insurance pricing increased for the fifth consecutive quarter in the fourth quarter of 2018, according to Marsh’s quarterly Global Insurance Market Index, a proprietary measure of global commercial insurance premium pricing change at renewal, representing the world’s major insurance markets and comprising nearly 90% of Marsh’s premium. Average commercial insurance prices increased by… Continue reading Commercial Insurance Pricing Increased in Fourth Quarter 2018