Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Financial Firms Facing Highest D&O Premiums as Market Hardens
Feb 26 2009 // Financial services companies now pay the highest average premiums for directors and officers (D&O) liability insurance, surpassing rates paid by life sciences and technology firms, according to a report from Carpenter...
Cooper Gay: Premiums Rise as Reinsurers Recover
Feb 26 2009 // Reinsurers have begun 2009 determined to wrest back the initiative from a period of softening rates and savagely declining investment returns. As a consequence, underwriters are increasingly being governed by the...
FSLA Leader Sees Soft Market Opportunities in State Farm Exit, Med Mal, EPLI
Feb 22 2009 // The Florida surplus lines industry may be challenged right now by regulatory uncertainty stemming from the Essex and CNL Hotels rulings but it is not letting that blind it to opportunities. One opportunity is the pending...
Harleysville Premiums Up 5% in Q4; Combined Ratio 98.5%
Feb 20 2009 // Pennsylvania-based Harleysville Group Inc. (NASDAQ:HGIC) reported fourth quarter net written premiums increased 5 percent to $214.5 million in 2008, compared to $203.6 million in the same period in 2007. Net written...
Nevada Workers’ Comp Loss Costs, Risk Rates to Decrease
Feb 13 2009 // Nevada Insurance Commissioner Scott Kipper has approved revised workers’ compensation voluntary loss costs and assigned risk rates filed by the National Council on Compensation Insurance (NCCI). The revised loss...
Florida Approves 6.4% Workers’ Compensation Insurance Rate Hike
Feb 11 2009 // Florida Insurance Commissioner Kevin McCarty has approved a 6.4 percent increase in workers’ compensation insurance rates. The increase applies to new and renewal business and will become effective April 1. The...
Automobile Club of Southern California Reducing Auto Rates 5.4%
Feb 6 2009 // The Automobile Club of Southern California announced it would be implementing a $101 million rate reduction for insurance policyholders in California, an average decrease of 5.4 percent. As the fifth largest auto insurer...
Allstate Asks New Jersey for 15.4% Rate Hike
Feb 5 2009 // The right coverage at the right price could cost more in New Jersey. Allstate New Jersey Insurance Co. is asking the state for permission to raise rates by 15.4 percent on average. The insurer says the higher premiums are...
Aon Insurer Survey Confirms Desire to Increase UK Commercial Premiums
Jan 28 2009 // According to the Aon’s newly launched “Market Pulse,” underwriters expect motor [auto] insurance premiums for UK companies to increase in the first quarter of 2009. Aon said its new quarterly index...
Florida Signals 6.4% Workers’ Comp Rate Hike to Pay For Court Ruling
Jan 26 2009 // Florida Insurance Commissioner Kevin McCarty said that he would approve a rate filing to increase Florida’s workers’ compensation insurance rates by 6.4 percent to be effective April 1 for new and renewal...
Florida Officially Rejects State Farm Rate Hike
Jan 25 2009 // Florida Insurance Commissioner Kevin McCarty has affirmed the ruling of an administrative law judge and officially disapproved a State Farm Insurance homeowners rate filing that has been in dispute since last July. McCarty...
Florida Panel Backs Rate Hikes, Stricter Rules for Citizens
Jan 25 2009 // A special task force is recommending that Florida’s state-backed property insurer, Citizens Property Insurance, be permitted to raise its rates beginning in 2010 and that restrictions on what homeowners it can insure...
Even Best Practices Agencies Struggle To Grow in Soft Market
Jan 25 2009 // Revenue Growth Proves Challenge; Hiring New Producers Remains Priority The Independent Insurance Agents and Brokers of America (the Big “I”) recently released its annual “Best Practices Study,” a...
The Invisible Hard Market
Jan 25 2009 // The events of the past six months — and those of the past several years — are some of the most dramatic in the history of financial services and risk management. From Sept. 11 to the 2005 hurricanes to the...
Insurers Propose Decrease for Nevada Workers’ Compensation Rates
Jan 22 2009 // Nevada Insurance Commissioner Scott Kipper announced that the industry’s National Council on Compensation Insurance Inc. (NCCI) has submitted a filing for an average decrease of 4.9 percent for Nevada workers’...
Liberty Mutual Increases Nevada Auto Insurance Rates
Jan 21 2009 // The Liberty Mutual Fire Insurance Co. received approval for a 6.9 percent rate increase, Liberty Insurance Corp. received approval for a 7 percent rate increase and First Liberty Insurance Corp. received approval for a 7.6...
Survey: Risk Managers Report Modest Premium Decreases in Q4
Jan 21 2009 // Insurance premiums for businesses continued a five-year trend of falling rates during the fourth quarter of 2008, but recent data suggest a reversal of this trend may soon be underway. Rates for property, general...
North Carolina Auto Rate Hike In Escrow Until Court Rules
Jan 11 2009 // Auto insurers may increase premiums on North Carolina drivers by up to 9.4 percent starting Jan. 1, but a court ruling will determine whether they can keep the extra money. The North Carolina Rate Bureau, which represents...
North Carolina Agrees to 4% Home Rate Hike
Jan 11 2009 // North Carolina Insurance Commissioner Jim Long has agreed to permit homeowners insurance companies to hike their rates an overall statewide average of 4.05 percent beginning May 1. This is below the statewide increase than...
California Workers’ Compensation Premiums Down in 2008
Jan 11 2009 // The Workers’ Compensation Insurance Rating Bureau of California has completed its report summarizing insurer loss and premium experience through Sept. 30, 2008. WCIRB said: “California written premium (gross of...
