U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS).
The aggregate commercial price change reported by carriers was above 7%. The survey compared prices charged on policies underwritten during the fourth quarter of 2021 with those charged for the same coverage during the same quarter in 2020.
Price changes were similar to those reported in the third quarter of 2021, with data for most lines showing significant price increases. Professional liability continued to indicate the largest increases. Cyber, a new line for the survey, showed a significant rate increase, but the volume was much smaller than all other lines.
