June 18, 2019 09:30
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An analysis of Willis Towers Watson shows that rates insurance companies are in growth in the United States during the first quarter of 2019. The price of this quarter compared to the corresponding period in 2018 show an increase of 2 %.
Willis Towers Watson says that the price changes for the majority of segments are similar to or somewhat higher than those reported in the previous quarter. The segments of the automobile insurance companies, property companies, of the excess liability and the liability of officers and directors, have demonstrated significant increases.
“On the whole, the price changes were consistent with recent surveys, with the exception of the liability of directors and officers, for which the data now indicate a price increase in the medium one-digit number,” explains Jeffrey Carlson, director, board of insurance and technology, Willis Towers Watson. In addition, although the estimates of the inflation in the cost of claims in 2018 are still high compared to the recent past, they are somewhat moderate compared to the estimates provided in our last survey, as the data continue to mature. “
Increases of a similar magnitude
By comparing the different sizes of account, Willis Towers Watson note that the rate changes were ” positive and of magnitude are reasonably similar for all segments for the fourth consecutive quarter compared to 2017 “.
In regard to the special risks, the prices have also increased for them for the year 2018 and complete in the first quarter of 2019.
“Although they are still high compared to previous years, the companies have revised their estimates of inflation in the cost of claims as a whole to 2018, at a little more than 3 %, which corresponds to a deterioration was almost equivalent to the claims ratio,” explain the analysts.