May 10, 2024
Insurance broker Aon plc announced an update to its Pricing Platform that aims to bring enhanced visualization and automation capabilities to re/insurance underwriters. The software update has also added new business lines including U.S. Financial lines and Cyber, as well …
April 30, 2021
U.S. regulators should strengthen their oversight of insurers to prevent potential overcharging and discrimination in selling coverage for cars and homes, a consumer watchdog group said on Thursday. The campaign by the Consumer Federation of America (CFA) comes after an …
October 30, 2018
The current pricing environment for property/casualty insurers is “modestly positive,” with commercial and personal auto rates rising by mid-to-high single digits, homeowners and commercial property rates rising by low-to-mid-single digits, and commercial casualty rates showing smaller changes, according to a …
November 17, 2015
The use of price optimization in insurance pricing is drawing increased attention and could be the next big industry battle. Or it could not be. Consumer groups and a growing contingent of states are labeling the practice as unfairly discriminatory …
June 26, 2014
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 …
June 25, 2014
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 …
February 24, 2014
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 …
December 12, 2013
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 …
February 5, 2013
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 …
December 26, 2012
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 …