Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
California Workers’ Comp Insurer Files for 3.5 Percent Rate Decrease
May 28 2008 // California State Compensation Insurance Fund announced it filed a July 1, 2008, revision to its rating plan, which it anticipates will result in a 3.5 percent reduction in collectible premium. While base rates will remain...
North Dakota’s Workers’ Comp Rates to Rise 2.5 Percent in July
May 23 2008 // The North Dakota Workforce Safety & Insurance (WSI) board of directors approved the 2008-2009 premium rate plan on Thursday, May 22nd. While the new rating plan begins July 1, 2008, it calls for no change in statewide...
Mass. Nixes 13% FAIR Plan Rate Hike
May 19 2008 // Massachusetts insurance officials have blocked a 13.2 percent statewide rate hike by the state’s residual market home insurer. The decision by Insurance Commissioner Nonnie S. Burnes spares some 150,000 coastal and...
Allstate to Begin Homeowners Rate Reductions, Refunds in Texas
May 19 2008 // As a result of an agreement reached by the Texas Department of Insurance, the Office of Public Insurance Counsel and Allstate Texas Lloyd’s, the company will soon begin reducing its homeowners rates and provide...
Michigan Nixes Rate Hike Request from Insurer of Last Resort
May 19 2008 // Michigan’s Office of Financial and Insurance Regulation (OFIR) Commissioner Ken Ross recently issued an order disapproving a rate filing for Michigan Basic Property and Insurance Association (Michigan Basic), the...
State Farm Files Request for California Rate Increase
May 19 2008 // Reflecting the general upward trends in the cost of property and liability insurance claims, State Farm General Insurance Co. has filed a request for an average statewide 6.9 percent rate increase with the California...
State Farm Files Request for California Rate Increase
May 9 2008 // Reflecting the general upward trends in the cost of property and liability insurance claims, State Farm General Insurance Co. has filed a request for an average statewide 6.9 percent rate increase with the California...
Mass. Denies Hike in FAIR Plan Home Insurance Rates
May 8 2008 // Massachusetts insurance officials have blocked a 13.2 percent statewide rate hike by the state’s residual market home insurer. The decision by Insurance Commissioner Nonnie S. Burnes also kills a 25 percent increase...
Top Agencies Have Strategies to Weather Soft Market
May 7 2008 // Insurance Journal readers were reminded by our recent coverage on how agents are faring in the recession that the effects of the economic downturn vary by agency and region. Some agencies and customers are feeling the...
Court Denies Allstate’s Request to Avoid Rate Decrease
May 5 2008 // A San Francisco judge has refused Allstate’s request to block a 15.9 percent automobile insurance rate decrease. Thus, the California Department of Insurance said the rate decrease should take effect immediately, and...
A Soft Market Solution: MGAs and Risk Sharing
May 5 2008 // Part1: Retaining limited underwriting risk could offer MGAs a way to bolster revenue Editor’s Note: The following is part one of a discussion of the risk retention options available to MGAs, the sundry variables...
Analysts See Increase in P/C Mergers Ahead; Rate Climate Top Challenge
May 5 2008 // Insurance equity analysts expect a significant increase in property/casualty mergers and acquisitions this year, according to findings of a global survey by Accenture. More than two-thirds (71 percent) of all P/C analysts...
Industry Douses Consumer Group Praise for Prior Approval of Auto Rates
May 5 2008 // A nationwide consumer study of automobile insurance regulation says that rates have risen more slowly over the past two decades in the 15 states that require insurers to receive advance approval of rate increases from the...
Consumer Group Alleges New Rules Will Raise Insurance Rates in Calif.
May 2 2008 // A consumer group this week accused California Insurance Commissioner Steve Poizner of adopting emergency regulations that would lead to higher rates for auto, homeowner and most other types of insurance coverage. In a...
California Court Denies Allstate’s Request to Avoid $250 Million Rate Reduction
Apr 25 2008 // A San Francisco judge has refused Allstate’s request to block a 15.9 percent automobile insurance rate decrease. According to the California Department of Insurance, the rate decrease should take effect immediately,...
Consumer Group Criticizes California’s Rate Approval Regulations
Apr 24 2008 // A consumer advocacy group is condeming California Insurance Commissioner Steve Poizner’s action in issuing emergency regulations governing the state’s prior approval insurance rate system. According to The...
Workers’ Compensation Rates Continue to Decline in Arkansas
Apr 24 2008 // Arkansas Insurance Commissioner Julie Benafield Bowman announced a decrease in workers’ compensation rates effective July 1, 2008. Since the passage of an all-encompassing workers’ compensation legislative...
In Midwest, Recession Makes Soft Market Even Tougher
Apr 22 2008 // When it comes to dealing with a recession, independent agents in Michigan carry the dubious distinction of having more experience than their counterparts in other Midwestern states. Michigan has been knee deep in a...
Recession, Soft Market Forcing Western Agents to Refocus
Apr 22 2008 // Whether the nation is in a true recession may still be up for debate, but it’s difficult to ignore the signs of economic slowdown throughout the West — and its effect on the insurance industry. New home...
Mississippi Wind Pool Rates Reduced
Apr 21 2008 // Mississippi Insurance Commissioner Mike Chaney approved an average 11 percent rate reduction filed by the Mississippi Windstorm Underwriting Association. The reductions vary according to geographic zones and go into effect...
