The Tillinghast business of Towers Perrin said it will brief property-casualty insurers via Webcast Wednesday on an innovative price and loss costs survey it hopes they will participate in
Tillinghast in Stamford, Conn. said its new launch is a ground-breaking effort called Commercial Lines Insurance Price Monitoring Survey (CLIPS).
The firm said it initiated the survey to meet the insurance industry's need for better historical benchmark information regarding pricing and loss costs and it will be the only survey that will marry these two pieces of information across multiple commercial lines of insurance.
Tillinghast said its informational Webcast will be held, at 2 p.m. EST for insurance companies that write primary commercial lines of coverage in the United States and that have an interest in participating in the survey.
The firm said the Webcast will discuss in more detail why the survey is being conducted, what it will look like and the benefit for participants.
"CLIPS data will provide companies with a consistent and current benchmark for setting loss reserves, an area where there has been some loss of confidence," promised Jeanne Hollister, p-c insurance practice leader for North America. "The survey will also provide companies with a more accurate measure of historical price changes on an ongoing basis," she said.
The survey will be piloted during the third quarter of 2005, and then conducted on a quarterly basis with participating companies, Tillinghast said.
Information and enrollment for the
Webcast is available through Alejandra Nolibos, survey leader at 404-365-1701 or [email protected].
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