Today’s issue of WorkCompRecap features the release of Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS) for Q4 2013. The survey compared carriers’ pricing on policies underwritten during the fourth quarter of 2013 to those underwritten in the same quarter of 2012, and found that prices increased by 5% in aggregate in Q4 2013, marking the third consecutive year of price increases.
With regard to Workers’ Compensation, TW reported that it had the second largest price increase, only behind employment practices liability line. Looking back to the aggregate, TW pointed out that while increases were reported in Q3 and Q4, they were somewhat smaller in magnitude than the 6% to 7% increases reported in the second half of 2012 and first half of 2013, indicating some moderation. Find out more by clicking here!