Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Survey: Cyber Budgets, Insurance Premium Jump Across Sectors
Oct 10 2023 // Budgets and insurance policy costs have increased exponentially despite doubts surrounding efficacy of cyber practices, according to a recent survey gauging cybersecurity practices among global debt issuers conducted by...
Iowa Farmers Eligible for $5 per Acre Discount on Spring Crop Insurance Premiums for Planting Fall Cover Crops
Oct 5 2023 // Iowa farmers and landowners who plant fall cover crops will soon have the opportunity to apply for a $5 per acre discount on their spring crop insurance premiums, Iowa Secretary of Agriculture Mike Naig announced. Farmers...
Freight Rates for Grain Exports via New Black Sea Corridor Fall Sharply, Ukraine Says
Oct 2 2023 // A new corridor allowing cargo vessels to carry Ukrainian grain and iron ore from Black Sea ports has significantly lowered freight rates and they are likely to fall further, Ukraine’s farm minister said on...
Policygenius Finds Average Home Insurance Prices Up 21%
Oct 2 2023 // Online insurance marketplace Policygenius has found that home insurance premiums at renewal increased 21% on average from May 2022 to May 2023. The state that saw the highest average increase for homeowners insurance...
Texas Comptroller: State Revenue Driven by Increasing Insurance Premiums
Sep 29 2023 // When Texas lawmakers meet next month for a special session on funding public education, they will have more money available to them to spend than they anticipated when they passed the state’s $321.3 billion budget...
Washington Proposes 4.9% Increase in Workers’ Comp Rates for 2024
Sep 20 2023 // The Washington State Department of Labor & Industries is proposing a 4.9% increase in the average hourly rate employers and workers will pay for workers’ compensation insurance next year. If adopted, the increase...
Woodruff Sawyer: Softer D&O Market Still Offers Concerns for Underwriters
Sep 19 2023 // While concerns about a “tsunami of pandemic-related litigation” never quite materialized, according to Woodruff Sawyer in its latest D&O Looking Ahead Guide for 2023, those fears have been replaced with a...
Australia’s New Hope to Ramp Up Coal Output, Sees Modest Insurance Premium Hikes
Sep 19 2023 // Australian miner New Hope Group’sCEO Rob Bishop said on Tuesday plans are progressing to double output over the next three years to meet an expected surge in demand for coal-fired power, after reporting a nearly 11%...
California Regulators Propose Higher Rates for PG&E Customers to Reduce Wildfire Risk
Sep 15 2023 // Power bills for about 16 million people in Northern California will likely increase after state regulators released two rate proposals for one of the nation`s largest utilities. The California Public Utilities Commission...
Policygenius Finds Average Home Insurance Prices Up 21%
Sep 14 2023 // Online insurance marketplace Policygenius has found that home insurance premiums at renewal increased 21% on average from May 2022 to May 2023. The state that saw the highest average increase for homeowners insurance...
Q2 US Commercial Lines Prices Up 6.1%: WTW
Sep 12 2023 // According to WTW’s Commercial Lines Insurance Pricing Survey (CLIPS), commercial insurance prices in the U.S. continued to increase in the second quarter. The quarterly survey, answered by insurance carriers,...
Reinsurance Rates to Rise in 2024, Soften in 2025: Fitch
Sep 8 2023 // Reinsurance rates are likely to continue to rise in 2024, though at a slower pace than in 2023, and prices will start to fall in 2025, Fitch Ratings analyst Robert Mazzuoli told Reuters on Thursday. Reinsurers – who...
S&P Raises Reinsurance Sector View to Stable From Negative as Rates Keep Rising
Sep 5 2023 // S&P Global has raised its view of the global reinsurance sector to stable from negative, it said on Tuesday, due to higher reinsurance rates and increasing investment income, while rival Moody’s kept its outlook...
Private Flood Insurers See Opportunity as NFIP Increases Rates
Sep 4 2023 // While the National Flood Insurance Program (NFIP) rolls out a new rating program generating premium increases for many policyholders, the private flood insurance market has seized the opportunity to grow its market share...
Rate Hikes Not Bringing Profit to US Auto Insurers: Fitch
Sep 4 2023 // Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market...
Strategies and Key Steps to Get Through Today’s Hard Market
Sep 4 2023 // The U.S. property/casualty insurance market is experiencing the hardest insurance market cycle in a generation, resulting in many insurance agents and brokers, as well as drivers, homeowners and business owners needing to...
Hard Market Pressure: Surplus Lines Lifting Heavy Load in Turbulent Times
Sep 4 2023 // As the longest hard market in memory refuses to fade, standard property/casualty carriers are not only continuing to raise prices but also reimagining their books by shedding risks they no longer want. It’s affecting...
Veteran Insurance Pros Offer Strategies for Navigating a Hard Market
Sep 4 2023 // Everyone in the insurance industry knows that 2023 has become one of the hardest markets in decades, across the board. In a panel discussion — No One Said it Would be Easy. Navigating the Current Hard Market —...
Ohio Bureau of Workers’ Compensation Announces 3.9% Rate Reduction for Public Employers in 2024
Aug 30 2023 // The Ohio Bureau of Workers’ Compensation announced a 3.9% rate reduction for the state’s public employers, a rate cut that will go into effect Jan. 1, 2024. The rate reduction will result in nearly $8 million...
Dutch Insurer NN Says Extreme Weather May Make Further Premium Hikes Unavoidable
Aug 30 2023 // Dutch insurer NN Group NV may increase premiums further as extreme weather patterns become more prevalent, Chief Executive Officer David Knibbe said. While NN benefited from benign weather conditions in the first half of...
