The property and casualty insurance market continues to achieve single-digit rate increases but analysts maintain there is little indication drivers are in place for a shift to a hard market.
Towers Watson's Commercial Lines Insurance Pricing Survey, which compares second quarter prices this year to last year, shows that commercial-insurance prices in the aggregate increased by 6 percent during over that time. It is the sixth consecutive quarter aggregate prices rose for all commercial lines, says Towers Watson.
The consulting service says workers' compensation and commercial property experienced increases in the high-single digits, while directors and officers and employment practices liability price increases were in the mid-single digits—a "departure from the relatively flat pricing of the last two quarters."
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