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Commercial insurance prices rose just over 7% during the third quarter: Willis



U.S. Commercial insurance prices rose just over 7% on a combined basis in the third quarter, after rising slightly below 8% in the first and second quarters, the Willis Tower Watson PLC said on Wednesday.

Almost all lines saw significant price increases in the third quarter quarter, although the rate of increase slowed for most lines, Willis said.

Professional responsibility showed the largest increase, while deductibles and umbrella responsibilities and directors 'and officials' responsibilities also saw significant price increases, although lower than in the second quarter. [19659004] Commercial cars saw price increases near or by double-digit figures for the 16th quarter in a row, while property coverage increased near or by double-digit figures for the tenth quarter in a row.

Willis & # 39; Commercial Lines Insurance Pricing Survelight showed a price reduction on workers' compensation "in contrast to almost all other lines examined", the brokerage said.

"Overall price increases continue to be strong in the third quarter, albeit slightly lower than in the previous quarter, and the rate of price increases has slowed for most lines," said Yi Jing, Head of Insurance Consulting and Technology at Willis, in a statement accompanying the report. 1

9659002] The total commercial price change reported by insurance companies increased by over 6% for the first quarter of 2020, and then accelerated to almost or over 10% during the second to fourth quarters of last year.

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