Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
State Farm Files for Rate Reduction
Aug 18 2006 // State Farm Insurance, California’s largest auto insurer, has applied for an 8 percent average reduction for its policyholders while simultaneously implementing new auto rate regulations, according to the Department...
Fla. Commissioner Orders Citizens to Reduce Rates in Monroe County
Aug 18 2006 // Florida Insurance Commissioner Kevin McCarty rejected a request by Citizens Property Insurance Corporation (Citizens) to increase rates in Monroe County and ordered it to reduce homeowners insurance rates for the area. By...
USAA Seeks 40% Homeowners Rate Hike in Fla.
Aug 14 2006 // USAA Casualty, which primarily insures military personnel and their families, has asked the state to increase its homeowner and condominium premiums by an average of 40 percent. The company made the request last Friday to...
Mass. FAIR Plan Rate Increases Approved to Start Oct. 1
Aug 14 2006 //
Calif. Approves USAA’s 8 Percent Auto Rate Reduction, Insurers Not Surprised
Aug 10 2006 // California Insurance Commissioner John Garamendi announced that he intends to approve an average 8 percent decrease in premium rates for policyholders of United Services Automobile Association (USAA), a move that the...
State Farm to Reduce W.Va. Homeowners Rates
Aug 9 2006 // State Farm announced Tuesday in Charleston, W.Va. it is lowering homeowners insurance rates in West Virginia by an average of 5 percent starting in December. It marked the first time since 1989 that State Farm has won...
ProAssurance Closes on PIC Wisconsin; Premiums Grow 4% in 2Q
Aug 8 2006 // ProAssurance Corporation in Birmingham, Ala. reported net income for the second quarter of 2006 of $30.0 million, or $0.90 per diluted share. For the six months ended June 30, 2006 net income was $167.3 million, or $4.95...
NYMAGIC: Premiums Up 36%, Led By Excess Workers’ Comp
Aug 8 2006 // NYMAGIC, Inc. reported net earnings for the three months ending June 30, 2006 were $6.1 million, or $.67 per diluted share, compared with $5.0 million, or $.56 per diluted share, for the second quarter of 2005. Net...
Texas denies State Farm rate hike
Aug 7 2006 // Texas insurance officials on July 21 rejected proposed homeowner rate increases by State Farm, the state’s largest home insurer. State Farm had filed for a pair of statewide rate increases on May 31: a 9.1 percent...
MISS. APPROVES 90% WIND POOL RATE HIKE
Aug 7 2006 // Mississippi Insurance Commissioner George Dale has approved a 90 percent rate increase for homeowner policies provided by the Mississippi Windstorm Underwriting Association. The association, commonly known as the wind...
Texas denies State Farm rate hike
Aug 7 2006 // Texas insurance officials on July 21 rejected proposed homeowner rate increases by State Farm, the state’s largest home insurer. State Farm had filed for a pair of statewide rate increases on May 31: a 9.1 percent...
USAA Insurance Seeks Approval for 22 Percent Rate Decrease
Aug 4 2006 // California Insurance Commissioner John Garamendi has issued a statement announcing his intention to review and consider approval of an average 22 percent decrease in homeowners insurance rates for policyholders of United...
RenRe Posts Q2 Results, 32% Increase in Cat Premiums
Aug 2 2006 // Renaissance Re, Bermuda’s leading property catastrophe reinsurer, posted net income of $130.4 million, or $1.81 per common share, for the second quarter of 2006, compared to net income of $172 million or $2.39 per...
Mass. Fair Plan Refiles for 12.4% Home Rate Hike; 25% on Cape
Aug 2 2006 // The Massachusetts Property Insurance Underwriting Association (the Fair Plan) has submitted a rate recommendation revised downward slightly from what the state disapproved on June 30. For all homeowners forms, the residual...
Miss. Approves 90% Increase in Wind Pool Rates for Homeowners
Jul 30 2006 // Mississippi Insurance Commissioner George Dale on Friday approved a 90 percent rate increase for homeowner policies provided by the Mississippi Windstorm Underwriting Association. The association, commonly known as the...
Selective: Solid Premium Growth, Account Retention in 2d Quarter
Jul 26 2006 // Selective Insurance Group, Inc.has reported its financial results for the second quarter ended June 30, 2006. Compared to the second quarter of 2005, the company said: Net income increased 31%, to $42 million, or $1.36 per...
ACE 2d Quarter Shows 6% Premium Growth; Better Combined Ratio
Jul 26 2006 // ACE Limited has reported net income for the second quarter ended June 30, 2006 of $573 million or $1.72 per common share after payment of preferred dividends, compared with net income of $467 million or $1.58 per share for...
Nevada Approves Progressive Halcyon’s Rate Increases
Jul 25 2006 // Nevada Commissioner of Insurance Alice A. Molasky-Arman has approved a rate change for private passenger automobile insurance filed by Progressive Halcyon Insurance Co. Bodily injury liability rates will increase 8...
Riding out soft and hard market cycles with quality relationships
Jul 24 2006 // Analyzing the economic rhymes and reasons of soft and hard market cycles in the insurance industry would make for a challenging university-level business course. Theories abound on why and when these cycles occur, but no...
Auto Club of SoCal reduced rates take effect in December
Jul 24 2006 // California’s fourth-largest provider of auto insurance has agreed to base its rates on safety and driving frequency rather than primarily on where a driver lives. The plan, to take effect Dec. 1, would cut some $133...
