Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Global Catastrophe Reinsurance Price Increases Lower Than Expected
Jan 23 2006 // Although the overall market trends in both pricing and terms and conditions will not be fully developed until the July 1, 2006, Florida renewals are complete, and Standard & Poor’s says it is concerned that the...
Analysts predict faster P/C premium growth, underwriting profit
Jan 23 2006 // Each year the Insurance Information Institute invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the year ahead. This year’s survey results indicate...
Garamendi’s proposed auto rate regs will likely cause rate hikes
Jan 23 2006 // Insurers’ estimates say 61 percent of California drivers could pay more. Concern continues to build against California Insurance Commissioner John Garamendi’s plan to impose new regulations for determining auto...
GEICO REDUCING COLO. AUTO RATES
Jan 23 2006 // GEICO began reducing auto insurance rates for new policyholders in Colorado on Jan. 5. The company also said it would be reducing rates for existing policyholders beginning Feb. 20. According to the company,...
LIRC Approves Post-Katrina Rate Hikes
Jan 20 2006 // The first post-Katrina increase in homeowners insurance rates has been approved by the Louisiana Insurance Rating Commission, beginning what is expected to be a line of rate increase requests this year. The commission...
As Rates Rise, Delaware Solicits Changes to Workers’ Comp Classes
Jan 20 2006 // Delaware Insurance Commissioner Matt Denn has asked Delaware businesses to submit requests for classification changes under the workers’ compensation insurance system if they believe that changes would make more...
SCOR’s P/C, Credit and Surety Treaty Renewal Premiums Up 25%
Jan 16 2006 // France’s SCOR Group announced that “premium income linked to Non-Life and Credit & Surety treaties up for renewal on 1 January 2006 is up by around 25 percent.” The bulletin added, “these...
Allstate Announces Rate Hikes Likely in Disaster Prone States
Jan 11 2006 // Allstate Corp. announced this week that customers living in areas hard-hit by hurricanes and other natural disasters, including North Carolina, are likely to see their premiums rise this year as a result of the...
Shift in S. Fla. ‘Line of Demarcation’ Could Reduce Homeowners Rates
Jan 9 2006 // South Florida homeowners with properties located in a strip of land east of I-95 could have their policies reduced if a proposal is implemented to shift the line of demarcation as far east as U.S. Highway 1, or even A1A,...
Analysts Predict Faster P/C Premium Growth, Underwriting Profit in 2006
Jan 5 2006 // Record catastrophe losses will weigh heavily on 2005’s underwriting results, pushing what would have been the industry’s largest underwriting profit ever into a loss situation, according to the Insurance...
Virginia OKs Workers’ Comp Rate Changes, Up and Down
Jan 3 2006 // Virginia officials have approved changes that will increase overall workers’ compensation premium levels in the voluntary market for the industrial and federal (F) classes while decreasing premiums levels for coal...
Two Companies Request Rate Increases in Fla.
Jan 2 2006 // Liberty Mutual and Federated National insurance companies have asked Florida regulators for double-digit rate increases. Liberty Mutual Insurance Co. wants to raise rates by a statewide average of 25 percent, and Federated...
FTCR: Insurers Inflated Med-Mal Claims to Justify Rate Hikes
Dec 30 2005 // In documents filed with state regulators and in statements to public officials, medical malpractice insurance companies consistently inflated the amount they estimated they would pay out in claims, according to a study by...
Best Rates U.K.’s Hiscox, Lloyd’s Syndicate, Bermuda Start-Up
Dec 19 2005 // A.M. Best Co. has announced its credit ratings on U.K. specialist and Lloyd’s insurer Hiscox plc. and its operating entities. It affirmed the financial strength rating (FSR) of “A-” (Excellent) and the...
Jan. 1 Auto Rate Hike
Dec 19 2005 // Thousands of drivers in Mississippi will see their auto insurance rates increase dramatically after Jan. 1, when the minimum required coverage will double, increasing costs, even for those who have less than the minimum...
Maine Allows 1.2% Workers’ Comp Rate Hike Starting in Jan.
Dec 15 2005 // The Maine Bureau of Insurance has modified the request of the industry’s National Council on Compensation Insurance for an average 1.8 percent increase in workers’ compensation rates for policy year 2006 to 1.2...
Citizens Approves 45 Percent Coastal Rate Increase, 21 Percent Inland
Dec 15 2005 // The Citizens Property Insurance Corp. board of governors has decided to approve higher premium increases that average 45 percent on Florida’s coast and 21 percent inland. The state’s insurer of last resort had...
Insurance Dept. Approved Miss. Homeowners Rate Increases Before Hurricane Katrina
Dec 12 2005 // Recent increased in homeowners insurance rates in south Mississippi can not be attributed to Hurricane Katrina, according to Insurance Department officials, who indicate that Allstate, USAA and the Southern Farm Bureau all...
Most Texas Employers to See Decrease in Unemployment Insurance Tax Rates
Dec 9 2005 // Citing an improved economy, the Texas Workforce Commission (TWC) said most Texas employers will see a decrease in their employer tax rate for calendar year 2006 compared to last year. Texas Unemployment Insurance (UI)...
