DEFINITION of 'Commercial Lines Insurance Pricing Survey - CLIPS'

An annual survey from the consulting firm Towers Perrin that reveals commercial insurance pricing trends. It tracks prices charged by over 30 insurance carriers for underwriting business casualty and property insurance policies. The survey can be used to track year-over-year variations in policy prices. CLIPS is considered an industry-leading survey and benchmarking tool.

BREAKING DOWN 'Commercial Lines Insurance Pricing Survey - CLIPS'

Commercial property insurance covers potential financial loss due to damage, theft or loss of real or personal property. Casualty insurance provides financial coverage for the actual business itself. For example, if a business was unable to open because of damage caused by fire, the property insurance would apply to the physical building while the casualty insurance would help compensate for the financial loss created by the interruption in work. Casualty insurance options have grown since the 1990s to include coverage for business interruption due to terrorism, government instability, cyber fraud and identity theft. The variation in policy premiums compose the premise of CLIPS.

RELATED TERMS
  1. Casualty Insurance

    A broad category of coverage against loss of property, damage ...
  2. Personal Lines Insurance

    Property and casualty insurance products for individuals that ...
  3. Commercial Lines Insurance

    Commercial insurance lines help keep the economy running smoothly ...
  4. Insurance Industry ETF

    A sector-following fund that invests primarily in insurance companies, ...
  5. Commercial Property Insurance

    Insurance that is used to cover any type of commercial property. ...
  6. Assigned Risk

    A risk that an insurance company is required to provide coverage ...
Related Articles
  1. Insurance

    Do You Need Casualty Insurance?

    Find out how different types of coverages can protect you and which policy is right for you.
  2. Investing

    Property And Casualty Insurance: Things Could Be Worse

    The property and casualty industry is profitable so far in 2010, but it faces sluggish pricing and declines in premiums.
  3. Investing

    Has The Combined Ratio For P/C Peaked?

    The property and casualty industry combined ratio hit 104.7 in 2008, but recent industry survey and management commentary indicate that things might be getting better.
  4. Insurance

    Bundle Your Insurance For Big Savings

    Bundling your insurance can save you money and time. Read on to see how get the most out of multiline insurance discounts.
  5. Insurance

    Exploring Advanced Insurance Contract Fundamentals

    Understanding your contract can help you protect our family's financial security.
  6. Insurance

    The Importance Of Property Insurance

    Property insurance is important, but there's a lot you need to learn in order to get the proper coverage.
RELATED FAQS
  1. What is the average return on total revenue for the insurance sector?

    Learn about the three main segments of the insurance industry, and find out what the average return on revenues is for the ... Read Answer >>
  2. How does the insurance sector work?

    Learn more about the insurance sector, a historically safe place for equity investors and the home of some of the largest ... Read Answer >>
  3. What are some examples of industries that practice price discrimination?

    Understand the various types of insurance coverage offered in the insurance marketplace, and learn why each policy should ... Read Answer >>
  4. What is the usual profit margin for a company in the insurance sector?

    Learn what the average profit margin is within the insurance industry, and what factors can affect the profitability of an ... Read Answer >>
  5. What caused the European / Eurozone debt crisis?

    Understand how insurance companies price insurance premiums, and learn the importance of data and statistics in the insurance ... Read Answer >>
Hot Definitions
  1. Davos World Economic Forum

    The annual meeting of the World Economic Forum hosted at Davos—a small ski town in Switzerland—in January each year is among ...
  2. Smart Home

    A convenient home setup where appliances and devices can be automatically controlled remotely from anywhere in the world ...
  3. Efficient Frontier

    A set of optimal portfolios that offers the highest expected return for a defined level of risk or the lowest risk for a ...
  4. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  5. Initial Public Offering - IPO

    The first sale of stock by a private company to the public. IPOs are often issued by smaller, younger companies seeking the ...
  6. Border Adjustment Tax

    A tax levied on goods based on where they are sold – exported goods are exempt from tax; those imported and sold in the ...
Trading Center