Insurance Pricing News

Florida’s Citizens Votes to Lower Rates Next Year

The Board of Governors for Florida’s Citizens Property Insurance Corp. approved on Wednesday a 2015 rate package that reflects an overall average 2.9 percent statewide decrease for personal residential policyholders across the state. Citizens said single family homeowners will see …

Some Florida Citizens Customers May See Lower Rates Next Year

Florida’s largest property insurer may be dropping its rates next year. Citizens Property Insurance is considering rate proposals for 2015 that would lower rates by about 3.2 percent for most homeowners. The state-created insurer says the proposal would apply to …

Northeast PIA Survey Shows Prices Rising, But at Slower Pace

In the first month of 2014, the PIA affiliates in Connecticut, New Hampshire, New Jersey and New York conducted their second-annual Market Trends Survey and found that the heralded hard market may not be launching as expected. In fact, when …

Keefe, Bruyette & Woods Forecasts ‘Soft Insurance Rate Landing’

U.S. property/casualty insurers’ and brokers’ operating earnings are expected to modestly improve in 2014, and the overall insurance rate increases will “probably moderate into 2015,” said investment and research firm Keefe, Bruyette & Woods (KBW) in its new report. According …

Insurance Prices ‘More of Same’ in 4th Quarter, Say Commercial Brokers

Insurance brokers across the country reported price increases in the commercial lines market in the fourth quarter of 2012. According to The Council of Insurance Agents & Brokers’ quarterly Commercial P/C Market Index Survey, pricing rose on average at a …

The Price Is Right: Insurance Pricing in Today’s Market

In the long-running game show of the same name, contestants vie with one another to figure out the right price to win valuable prizes. Insurance pricing isn’t all that different. Managing the ups and downs of pricing cycles and related …

Personal Lines Rates Rise 4% in November: MarketScout

Homeowners and automobile insurance rates are trending up, according to a new industry survey. The composite rate for insuring personal lines business in the United States increased to plus 4 percent for November 2012 as compared to November 2011, says …

Commercial Lines Rates Up 5% in November: MarketScout

The overall composite rate for insuring commercial accounts in the United States ticked up 5 percent in November 2012 compared to the same month in 2011. According to MarketScout’s Commercial Lines Market Barometer, by coverage classification, property, excess liability, general …

ABI Analyzes Effect of Upcoming Gender-Neutral Insurance Pricing

With one month to go until gender-neutral pricing becomes mandatory in the UK, the Association of British Insurers (ABI) stressed that “the insurance market will remain competitive despite the ruling and has published key consideration points for consumers set to …

Commercial Lines Pricing Jumps 6% in Q2: Towers Watson

Commercial insurance prices experienced the largest rise in eight years, a new industry survey reveals. In aggregate, commercial lines pricing jumped by 6 percent during the second quarter of 2012, the sixth consecutive quarter aggregate prices rose for all commercial …