US commercial rates remain flat, says Willis Towers Watson

However, workers’ compensation, commercial property and surety bonds all reported small price drops with larger decreases reported for directors’ & officers’ risks.

The Willis Commercial Lines Insurance Pricing Survey (CLIPS) identified “meaningful” rate increases for commercial motor, where rate increases have accelerated in the past year to keep pace with increased losses.

“Unfavourable loss trends persisted in commercial auto,” said Alejandra Nolibos, director at Willis Towers Watson. “But, initial loss ratio indications suggest that insurers are achieving price increases that help hold the line,” she added.

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The survey found that prices across the board remained flat for the fourth consecutive quarter.