US commercial insurance prices increased by less than 1% in the first quarter of this year, according to a survey by Willis Towers Watson.

Workers’ compensation, commercial property and directors’ and officers’ insurance posted modest price drops, while commercial auto prices jumped.

The overall result marks the third straight quarter of nearly flat prices, following a moderating trend in increases that began in the first three months of 2013.

“Despite ample capacity, price increases – albeit small – are still holding as claim cost inflation remains modest,” Sean McDermott, a director in Willis Towers Watson’s Americas property and casualty practice, says. “The one outlier, commercial auto, where poor claim results have driven meaningful price increases over the past three quarters, is the line where pricing corrections continue.”

Price increases were nearly flat on large accounts for the sixth straight quarter and on mid-market accounts for the fifth consecutive quarter.

The Commercial Lines Insurance Pricing Survey was based on new and renewal business figures from 40 insurers representing about 20% of the market.