Commercial Lines Insurance Pricing Survey - CLIPS


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.

  1. Business Insurance

    Insurance coverage that protects businesses from losses due to ...
  2. Deductible

    1. The amount you have to pay out-of-pocket for expenses before ...
  3. Casualty Insurance

    A broad category of coverage against loss of property, damage ...
  4. Actuarial Risk

    The risk that the assumptions that actuaries implement into a ...
  5. Premium

    1. The total cost of an option. 2. The difference between the ...
  6. Liability

    A company's legal debts or obligations that arise during the ...
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