rate reductions News

State Farm Lowering Home Insurance Rates in Kansas

State Farm said it is reducing its Kansas homeowners insurance rates by an average of 2.2 percent. The total statewide expected savings impact for State Farm customers by this rate decrease is approximately $5.1 million. The rate decrease is effective …

California Commissioner Approves Rate Reductions on State Farm Commercial Policies

California Insurance Commissioner Dave Jones has approved rate reductions for several State Farm commercial policies that he said will bring millions of dollars in premium savings for tens of thousands of small businesses, farm owners, apartment owners, and condo associations …

The Doctors Co. Challenging Florida’s Order to Decrease Med Mal Rates

An order by the Florida Office of Insurance Regulation for medical malpractice insurer The Doctors Co. (TDC) to decrease its rates by 15 percent is being contested by the California-based company. A hearing has been set for Oct. 7, 2015, …

Nautilus Expands Contractors Program, Reduces Rates

Nautilus Insurance, a W. R. Berkley Co., has enhanced its general liability product offering for contractors, while also expanding product availability to all states except Colorado and New York. Nautilus Insurance writes on behalf of Nautilus Insurance Co. and Great …

Willis Re Renewals Report Sees Continued Industry ‘Reshaping’

“Relentless rate reductions, low investment returns and the continued influx of alternative capital have offered no respite for reinsurers at the January 1, 2015 renewal season with a reshaping of the global reinsurance industry now starting in earnest,” according to …

Construction P&C Premiums Slump 10-30% Due to Overcapacity: Willis Report

“Overcapacity in the international construction, property & casualty markets in the first half of 2014 has resulted in rate reductions of up to 30 percent for commercial insurance buyers,” according to a report –”Q3 2014 Construction, Property & Casualty Market …