rate increase News

Price Optimization Allegations Challenged, NAIC Investigating Practice

Reaction to industry-wide price optimization allegations from a consumer group known to call out insurers has been somewhat critical yet guarded – however it appears regulators may already be starting to look into the practice. Consumer Federation of America this week …

Louisiana Citizens to File Homeowners Insurance Rate Hike

East Baton Rouge Parish homeowners who buy coverage from Louisiana Citizens Property Insurance Corp. would see rates increase an average of 9.9 percent while wind-only policies would jump by 17.1 percent under a proposed rate filing. Statewide, Citizens personal lines, …

State Farm Raising Louisiana Homeowner Insurance Rates

State Farm is raising Louisiana homeowner rates an average of 8.7 percent statewide for its nearly 308,000 policyholders. According to State Farm’s filing with the insurance department, the statewide increase will generate $40.1 million. The Advocate reports the higher rates …

2.7 Percent Workers’ Comp Hike Sought For Washington In 2014

The Department of Labor & Industries has proposed an average 2.7 percent rate increase for 2014 workers’ compensation premiums. Over the past two years, workers’ compensation surveys have shown an increase in rates nationally, however this will be L&I’s first …

Texas Windstorm Insurance Rates to Rise Again in January

The board of Texas insurer of last resort for wind and hail along the Texas coast voted at its August meeting to raise premium rates beginning in January 2014. The Texas Windstorm Insurance Association board of directors voted to file …

Judges Reject Challenge to Texas State Farm Rates

Two administrative law judges have rejected a consumer challenge to a recent 20-percent rate hike for Texas homeowners covered by State Farm Lloyd’s. The judges decided on Aug. 19 that the premiums for 1.2 million homeowners are not excessive or …

Texas Automobile Insurance Plan Association Rates to Rise

Rates charged for private passenger automobile insurance provided through the Texas Automobile Insurance Plan Association (TAIPA) will increase overall by 5.6 percent, the Texas Department of Insurance reports. New rates for TAIPA private passenger and commercial automobile insurance will be …

Iowa Health Insurer to Seek Smaller Rate Hikes

Months after customers blasted the company for skyrocketing rates, Iowa’s dominant health insurer says it will limit premium increases in 2014 to less than six percent for individual and small business policyholders. Wellmark Blue Cross and Blue Shield announced on …

Ascension Parish to Lobby Against Flood Insurance Increase

A councilman from Louisiana’s Ascension Parish is heading to Washington, D.C., to lobby against an increase of premium rates for National Flood Insurance Program policyholders. The Advocate reports Councilman Randy Clouatre plans to meet with members of the state’s congressional …

Oklahoma Flood Insurance Rate Increases in October

The Oklahoma Department of Insurance says flood insurance administered by the National Flood Insurance Program is set to increase rates for new and renewal policies effective Oct. 1. Flood insurance is offered to homeowners, renters and business owners to protect …