U.S. commercial insurance prices showed minimal gains during the first quarter of 2017, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) from Willis Towers Watson.
Analysts at the global advisory, broking and financial solutions company compared policy pricing during the first quarter to the same period last year. They found that year-over-year commercial policy prices changed less than 1% for the sixth consecutive quarter.
Exercised considerable discipline
"The commercial P&C insurance market has exercised considerable discipline as a whole over the past couple of years," said Serhat Guven, Americas property and casualty sales practice leader at Willis Towers Watson. "Insurers have held the line on trading profitability for volume, while still responding as needed to emerging trends."
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