Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Best Report: Excess & Surplus 2005 – Premium Growth Decreases Amid Softening Market
Sep 26 2005 // In 2004, after growing significantly for three consecutive calendar years, direct premium volume for the surplus lines industry remained relatively flat, according to a special report released by A.M. Best Co. The...
Colo. Democrats Question Claims That Auto Insurance Rates Have Declined
Sep 25 2005 // Democrats questioned claims by the auto insurance industry and Colorado state insurance commissioner that rates declined after the state switched from a no-fault system to a tort system, saying 48 of 200 companies have not...
Pa. Measure Would Grant Premium Break for Reducing Medical Errors
Sep 23 2005 // Pennsylvania State Rep. Phyllis Mundy this week explained to fellow lawmakers why they should approve a bill she has introduced to cut down on medical errors and rein in health-care inflation. Mundy’s legislation...
TMLT to Reduce Rates 5%
Sep 20 2005 // Texas Medical Liability Trust announced that effective Jan. 1, 2006, it will reduce medical liability rates for new policyholders by 5 percent across the board. Current TMLT policyholders will receive this rate decrease...
NCCI REQUEST REDUCED WC RATES
Sep 19 2005 // An overall 4.5 percent decrease for workers’ compensation in Florida in five major industrial classifications has been requested by the National Council on Compensation Insurance Inc. of Boca Raton, Fla. This is the...
AIA Says Workers’ Comp Rate Reduction Recommendation Demonstrates Reforms are Working
Sep 16 2005 // The following statement is in response to the Workers’ Compensation Insurance Rating Bureau Governing Board’s decision to recommend that Insurance Commissioner John Garamendi (D) decrease workers’...
Citizens Property Insurance Board Tables Rate-Increase Vote Until Nov.
Sep 16 2005 // A vote on whether to request a 37 percent statewide increase on homes insured by Citizens Property Insurance Corp. was tabled Friday in Orlando by state’s insurer of last resort’s board of governors, which will...
Conn. Medical Holds Malpractice Rates Even After 5 Years of Hikes
Sep 14 2005 // Connecticut Medical Insurance Co., one of the state’s largest writers of medical malpractice insurance, has decided to hold its rates steady for 2006 after raising them each of the last five years. The doctor-owned...
Survey Reveals Bikers’ Concern as Motorcycle Theft Rates Increase
Sep 13 2005 // With motorcycle theft rates climbing more than 55 percent according to the National Insurance Crime Bureau, and bike sales soaring at unprecedented rates, a survey of motorcycle owners revealed that a full 49 percent are...
WCIRB to Propose 5.2% Decrease In Pure Premium Rates Effective Jan. 1
Sep 9 2005 // On July 28, 2005, the WCIRB submitted a filing to the California Department of Insurance (CDI) recommending, among other things, a 5.2 percent reduction in pure premium rates effective Jan. 1, 2006. Earlier today, the...
Insurex Announces Additional 15% Decrease in Workers’ Comp Rates
Sep 8 2005 // Insurex, a San Diego-based insurance brokerage, announces an additional 15.0 percent rate reduction on California workers’ compensation insurance effective Oct. 1, 2005 for affiliate agencies. The rate reductions are...
Wis. Health Premiums Up 7 Percent
Aug 30 2005 // Average premiums for health care plans rose 7.2 percent in southeastern Wisconsin compared with a 9.6 percent increase nationally, according to a survey released by United Benefit Advisors, an employee benefits advisory...
California Authority Approves Earthquake Insurance Rate Reduction
Aug 26 2005 // The California Earthquake Authority has voted to reduce earthquake insurance premiums by 22 percent, in hopes that it will encourage more homeowners to purchase or renew earthquake coverage. The proposal will now go before...
Swiss Re Posts $1.074 Billion 1st Half Net; Premiums Written Fall 4%
Aug 25 2005 // Swiss Re announced group net income of CHF 1.353 billion ($1.074 billion) for the first half of 2005, a 6 percent decline, compared to the CHF 1.441 billion ($1.144 billion) it earned in the same period of 2004. The...
California Considers Quake Insurance Rate Reduction
Aug 25 2005 // California Gov. Arnold Schwarzenneger and other state officials who are part of the California Earthquake Authority are considering whether to reduce quake insurance rates in the state by 22 percent. The proposal before...
Miami PD Eliminates Its Auto Theft Unit; Area Agents Predict Higher Policy Rates, Increased Thefts
Aug 23 2005 // Insurance agents in Miami and Dade County were dismayed to discover this morning that, “due to manpower shortages” the Miami Police Department has disbanded its Auto Theft Unit. A PD spokesman told the Miami...
Farmers Reports 15% Workers’ Comp Rate Reduction
Aug 23 2005 // The Farmers Insurance Group of Companies has announced a 15 percent rate reduction in workers’ compensation rates for its Texas business customers. This latest reduction comes on the heels of an earlier 20 percent...
Barometer Shows Premiums on the Decline for Contractors Market
Aug 22 2005 // MarketScout began tracking property and casualty pricing trends in 2001 in an effort to share the pricing results of insurance placements related to their 50,000 member agent network. The monthly market trends are...
COMMISSIONER ANNOUNCES -26.78 PERCENT RATE DECREASE IN WORKERS’ COMP:
Aug 22 2005 // California Insurance Commissioner John Garamendi announced that workers’ compensation insurers in the state filed rate reductions averaging -14.6 percent for policies incepting on or after July 1, 2005 bringing the...
State Farm Requests 8.6 Percent Statewide Rate Increase in Fla.
Aug 17 2005 // An 8.6 percent statewide increase and 37.9 to 39.7 percent increases in the coastal section of Miami-Dade County and inland sections of Broward County, Fla. have been requested by State Farm Insurance. The request cited...
