rate decrease News

California Earthquake Authority Proposes to Lower Rates

The California Earthquake Authority on Thursday proposed an average 8 percent decrease in rates. CEA’s Advisory Panel recommended the rate decreases, along with additional coverage options in deductibles, discounts and certain limits, to the CEA Governing Board, which next meets …

Commissioner: Louisiana Workers’ Comp Insurance Rates to Decrease

Louisiana Commissioner of Insurance Jim Donelon announced that rates for workers’ compensation insurance will decrease in Louisiana effective May 1, 2014. Commissioner Donelon recently approved a 5.1 percent decrease in workers’ compensation loss costs submitted by the National Council on …

Iowa City Work Prompts Lower Flood Insurance Rates

Property owners in Iowa City’s 100-year flood plain will get a 15 percent discount on their flood insurance premiums because of city efforts on a variety of flood-related projects. Property owners in the flood plain will see the 15 percent …

Rockwood Decreases Agent E&O Rates in Massachusetts, California, Texas

Rockwood Programs has implemented underwriting guideline changes to its P&C Agents E&O program. The modifications will result in a rate decrease in the states of California, Massachusetts, Nevada, and Texas. The exact amount of the decrease will be dependent on …

Louisiana Citizens Board Agrees to Retroactive 10% Rate Cut

The board governing Louisiana’s property insurer of last resort has agreed to drop rates by 10 percent across a dozen south Louisiana parishes retroactive to June 7, when the reduction was signed into law. The $16 million annual rate cut …

Kentucky Workers’ Compensation Rates Continue to Drop

Kentucky regulators have approved the sixth straight reduction in workers’ compensation loss cost rates. Kentucky Insurance Commissioner Sharon Clark has approved a statewide average 7.5 percent decrease in loss costs rates. The new rates mean that the state’s loss cost …