Today’s issue of WorkCompRecap features some rating and research news, as Towers Watson releases its Commercial Lines Insurance Pricing Survey (CLIPS) results. According to the Survey, Commercial insurance prices increased an aggregate 2% during the third quarter of 2011 – making it the second straight quarter when all standard commercial lines showed an uptick in pricing. The increases however were not great enough to keep up with reported claim cost inflation levels. Find out more by clicking here!
Also in the news today is a change in rating posted by AM Best, as they downgraded the financial strength rating for Accident Fund Group and its members from A to A-. Best also mentioned that the performance of CompWest (which Accident Fund had acquired in 2007) has fallen short of expectations. Find out more by clicking here.