Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Mass. Fair Plan plays catch-up on reinsurance, rates
Jul 24 2006 // The biggest increases are in store for coastal Cape Cod, where the Fair Plan has become the leading property insurer rather than the insurer of last resort as intended. News Currents Last summer when the Massachusetts Fair...
Riding out soft and hard market cycles with quality relationships
Jul 24 2006 // Having quality relationships with clients takes commitment and discipline, but it pays off in reliability and client retention. Analyzing the economic rhymes and reasons of soft and hard market cycles in the insurance...
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...
Texas Denies State Farm Rate Hike
Jul 24 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...
Reforms pushing California workers’ comp rates, losses down
Jul 24 2006 // The Workers’ Compensation Insurance Rating Bureau of California has completed its report summarizing insurer loss and premium experience through March 31, 2006, which suggested legislative reforms are...
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...
Allstate Subs Granted Rate Hikes in La.; 65% Jump Expected for Some Insureds
Jul 20 2006 // Two subsidiaries of Allstate Insurance Company have received approval by the Louisiana Insurance Rating Commission to raise their homeowner coverage rates in the state. Encompass Insurance Co. of America and Encompass...
CFO Candidate: Fla. State Needs More Public Input in Premium Hikes, Not Less
Jul 20 2006 // Florida regulators aren’t getting enough input from the public before approving property insurance rate increases, state chief financial officer candidate Randy Johnson said Tuesday. Johnson, a Republican state...
Auto Club of SoCal Reduced Rates to Take Effect in December
Jul 12 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...
TWIA Reminds Agents of Binding Procedures, Sept. 1 Rate Increases
Jul 7 2006 // The Texas Windstorm Insurance Association posted a bulletin on its Web site to assist agents with its coverage binding procedures in the event a hurricane threatens the Texas coast. TWIA said no new or additional coverages...
Mass. Rejects 12.5% Fair Plan Rate Hike But Opens Door to Revised Bid
Jul 5 2006 // Almost 10 months after it was filed, Massachusetts Insurance Commissioner Julianne M. Bowler on June 30 disapproved the 12.5 percent average homeowners insurance rate increase submitted by the Massachusetts Property...
California earthquake insurance rates decreasing
Jul 3 2006 // California earthquake insurance policies issued by the California Earthquake Authority will see rate decreases by an average of 22.1 percent. Approximately 85 percent of CEA policyholders will see their rates reduced...
Mich. Creates Pool to Reduce Premiums in Detroit, Flint
Jun 30 2006 // Four insurance companies have told state officials they want details on bidding to represent a pool of up to 200,000 good drivers and responsible homeowners in Flint and Detroit. The companies are among more than 65 the...
New Policy Approved, Rate Hikes Granted for La. Citizens
Jun 29 2006 // Louisiana Citizens Property Insurance Corp. will be allowed to offer policies that will help owners of storm-damaged homes maintain coverage while they make repairs. The Louisiana Insurance Rating Commission approved the...
California Earthquake Insurance Rates Decreasing
Jun 20 2006 // California earthquake insurance policies issued by the California Earthquake Authority will see rate decreases by an average of 22.1 percent, said Nancy Kinkaid, CEA spokeswoman. Approximately 85 percent of CEA...
California State Compensation Insurance Fund files average 10 percent premium decrease
Jun 19 2006 // California’s State Compensation Insurance Fund filed its sixth consecutive rate reduction, reflecting an average collectible premium decrease of 10 percent on new and renewal workers’ compensation policies with...
Study: Tort reforms reduce medical malpractice premiums
Jun 19 2006 // Tort reforms are the best proven instrument for reducing medical liability insurance premium growth, according to a new study conducted by Stanford University Professor Daniel P. Kessler, who also serves as a research...
Car Crash Death Rate for Seniors, Already High, Expected to Rise
Jun 15 2006 // A study co-authored by a University of Virginia professor suggests that seniors citizens will die in car accidents at a higher rate in the years ahead as America’s 75 million baby boomers age, grow more frail and...
Hartwig predicts profitable 2006, premium growth grinding to a halt
Jun 5 2006 // The last 24 months have been traumatic for the insurance industry, but the profit picture for 2006 is quite good overall, Robert P. Hartwig, Insurance Information Institute senior vice president and chief economist said...
TDI: ALLSTATE MUST REDUCE RATES, REFUND CUSTOMERS
Jun 5 2006 // In late May Texas Insurance Commissioner Mike Gees-lin signed an order requiring Allstate Texas Lloyds to reduce rates for all Texas policyholders by 5 percent and to refund to policyholders the amount overcharged since...
