US commercial insurance premiums grew 6% in the second quarter, according to a Towers Watson survey.

The largest price rises were in workers’ compensation and employment practices liability lines.

“No line of business had an overall price increase of less than 4%,” Property and Casualty Sales and Practice Leader for the Americas Tom Hettinger said.

“Price increases were observed across all account sizes for standard commercial lines, with larger increases observed in mid-market than in large and small accounts.”

It was the 10th consecutive quarter of price increases, and Mr Hettinger expects the trend to continue.

“Pricing increases in property insurance have tempered, consistent with the abundance of capital in the market,” he said.

“Given mid-year reinsurance renewal pricing levels, I would not be surprised to see a repeat in the third quarter, especially if we continue to see favourable windstorm experience.”

The commercial lines insurance pricing survey also shows price rises have offset increasing claim costs.

Mr Hettinger says preliminary results point to an improvement of 3-6% in loss ratios for the first half of this year.

“Although carrier estimates of claim cost inflation remain relatively low, the potential for greater inflation during the medium term looms,” he said.

“This may give the steady price increases we’ve been experiencing some additional staying power.”