Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Group Rates States on Consumer Insurance Information on Web
Nov 11 2008 // A national consumer group says state insurance departments vary in the quality of the information they provide consumers online, with only six states doing an excellent job. State insurance department websites in 6 states...
National Study Says Michigan Average Auto Premiums Decline
Nov 10 2008 // Michigan’s average auto insurance premiums decreased in 2006, compared to 2005, a recent study released by the National Association of Insurance Commissioners (NAIC) shows. For the two-year period 2004-6, Michigan...
South Carolina Auto Insurance Rates up Slightly in 2006
Nov 7 2008 // South Carolina auto insurance rates increased slightly in 2006, but remained on average lower than most national rates. A study by the National Association of Insurance Commissioners showed that South Carolina drivers paid...
Survey: Agents Report Rise in Agency E&O Premiums
Nov 5 2008 // A near majority of agents and brokers responding to the 2008 Insurance Journal Agency E&O Survey said they experienced increases in their agency’s errors and omissions premium this year. Some 44.1 percent of...
California Increases Temporary Total Disability Rate
Nov 4 2008 // The California Division of Workers’ Compensation announced that the maximum temporary total disability (TTD) rate will increase to $958.01 on Jan. 1, 2009. The increase to the maximum TTD rate marks the third year in...
Higher Gas Prices Drive Down Auto Rates, Drive Up Politics Over Regulation in New York
Nov 2 2008 // In New York, there exists a curious relationship between gas prices and insurance premiums, at least in government officials’ minds. Gov. David Paterson said his state’s efforts to rein in insurance rates by...
California Commissioner Announces 5% Workers’ Comp Rate Increase
Nov 2 2008 // Rejecting the Workers Compensation Insurance Rating Bureau’s (WCIRB) call for a 16 percent increase in the benchmark for determining workers’ compensation costs, California Insurance Commissioner Steve Poizner...
Risk Managers Report Price Softening; Insurers Battle Surplus Decline
Nov 2 2008 // Property Premiums Fall Sharply; P/C Insurers Post Q3 Losses; Some Sell Stock to Raise Cash for Surplus Woes Risk managers report that commercial policy renewal prices are continuing to drop even as insurers are battling a...
Florida Approves Another Rate Decrease for Workers’ Comp
Oct 30 2008 // Florida Insurance Commissioner Kevin McCarty approved the National Council on Compensation Insurance’s amended rate filing for workers’ compensation insurance rates that will become effective Jan. 1. The rate...
Reinsurers Expect Financial Storm Will Cause Premium Increases
Oct 28 2008 // The world’s reinsurers expect the intensifying financial market storm will allow them to push through higher prices for the risk cover they offer insurance companies. The world’s No. 2 and No. 4 reinsurers,...
Survey: P/C Premiums Decline Again as Industry Enters ‘Uncertain Times’
Oct 27 2008 // Commercial property/casualty premiums continued a downward slide during the third quarter of 2008, but there were suggestions the market decline may have leveled off, at least between July and September, for small and...
California Commissioner Announces 5% Workers’ Comp Rate Increase
Oct 24 2008 // Rejecting the Workers Compensation Insurance Rating Bureau’s (WCIRB) call for a 16 percent increase in the benchmark for determining workers’ compensation costs, California Insurance Commissioner Steve Poizner...
Brown & Brown: Revenues Up Even as Insurance Prices Falling
Oct 21 2008 // Florida-based insurance agency Brown & Brown, Inc. reported that its total commissions and fees revenues for the third quarter of 2008 increased 8.1 percent over the third quarter of 2007. While revenues were up, net...
Premium Growth: Top 25 P/C Premium Gainers Through Q2 2007
Oct 20 2008 // Vita Sackville (1892-1962) was a British novelist and poet. In 1928, she wrote, “Growth is exciting; growth is dynamic and alarming.” Eighty years later, her description of growth is more accurate than ever....
Florida Regulator Orders Further Reduction in Workers’ Comp Rates
Oct 16 2008 // Florida Insurance Commissioner Kevin McCarty disapproved a worker’s compensation rate filing that the National Council on Compensation Insurance submitted on Aug. 27. McCarty ordered NCCI to make an amended filing to...
Soft Market Challenges
Oct 6 2008 // Relationships, Recruiting, Training Key to Survival Soft market conditions could last for another nine months to five years, predict representatives from the agent, broker, carrier, reinsurance, and excess and surplus...
Washington Proposes 3% Increase in Workers’ Comp Rates
Oct 6 2008 // Washington’s Department of Labor & Industries (L&I) has proposed a 3 percent increase in 2009 workers’ compensation rates. Average premiums would go up by under 2 cents per hour worked. “We are...
AIG’s Japan Unit Gets Capital for Stock Price Fall
Oct 2 2008 // A Japanese insurer that is a unit of troubled American International Group Inc. has received 90.7 billion yen (US$872 million) in additional funds to bolster its financial strength, the company said Tuesday. Alico Japan...
Aon Study Concludes Airline Insurance Market ‘Hardening’
Sep 25 2008 // A bulletin from Aon’s London office concludes that the airline insurance market “is hardening for the first time in five years, with a five percent increase in lead hull and liability premium between January...
Too Early to Tell if Kentucky Windstorm will Increase Insurance Rates
Sep 24 2008 // The Kentucky Office of Insurance says it’s too early to tell if the severe winds caused by the remnants of Hurricane Ike will result in insurance rate hikes. The Courier-Journal reported insurers have received tens...
