The quarterly Towers Watson (neé Towers Perrin) survey of commercial lines shows nothing moving. Recall that MarketScout, the survey of agents, showed a 3% decline on the quarter. CLIPS looks at rate change on renewals, for an apples-to-apples comparison, while MarketScout captures rate change on new business, but isn’t as fine-tuned regarding limits, terms and conditions.
Towers showed most lines flat, with small decreases in commercial property, D&O and EPLI.
The survey also showed this year’s loss ratio deteriorated by 5% though warned that figure is wobbly as it’s only three months of data. The 2009 loss ratio was 4% worse than 2008.