Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
NAMIC Encourages Hawaii Legislative Working Group to Adopt Rate Modernization
Aug 16 2005 // The National Association of Mutual Insurance Companies has told a Hawaii legislative committee that passage of rate modernization laws would benefit state commerce and insurance consumers. In written comments filed last...
Broadening Club Coverage in a Softening Market
Aug 8 2005 // The softening market has provided some welcome price relief for golf and country clubs, which had weathered significantly higher premiums in the last few years. To agents and brokers writing golf and club business, this is...
Fla. Homeowners Rates to Rise by 6.8 Percent Again This Summer
Aug 8 2005 // Florida homeowners can expect to receive a 6.8 percent increase in their insurance rates to pay for Citizens Property Insurance Corporation’s deficit, according to Bob Hartwig, chief economist at the Insurance...
New Hampshire Insurance Requests Rate Hike In South Florida
Aug 1 2005 // New Hampshire Insurance Co. has asked state insurance regulators for permission to increase rates for its homeowner and condominium policies. Should state regulators give approval, the company’s premiums for...
WCIRB Proposes 5.2 Percent Decrease in Pure Premium Rates
Jul 29 2005 // On July 28, the WCIRB submitted a Regulatory Filing to the California Department of Insurance recommending an average 5.2 percent decrease in advisory pure premium rates to be effective on policies incepting on or after...
Mo. Malpractice Claims Drop While Premiums Rise, Study Says
Jul 27 2005 // Medical malpractice insurers paid out significantly less in claims to Missouri physicians last year, but continued to raise the premiums they charge doctors, according to new study. The National Association of Insurance...
Canadian Auto Insurers, Consumer Group Clash Over Ontario Premiums
Jul 24 2005 // Canada’s auto insurers are disputing a recent study that showed Ontario drivers’ auto insurance rates are as much as 45 percent higher than those for British Columbia motorists. The Insurance Bureau of Canada...
WCIRB To Propose 5.2% Decrease In Pure Premium Rates
Jul 21 2005 // The California Workers’ Compensation Insurance Rating Bureau’s Governing Committee approved the filing of an average 5.2 percent decrease in advisory pure premium rates to be effective on policies incepting on...
CIAB: Commercial P/C Market Softens More in Second Quarter
Jul 20 2005 // The commercial property/casualty market continued to soften during the second quarter of 2005, with commercial insurance brokers reporting that insurers are aggressively competing for new business and fighting hard to keep...
Study Maintains Malpractice Rates, Not Payouts, Rising
Jul 18 2005 // Medical malpractice insurance rates rose dramatically during the past five years, but the amount insurers paid out in claims did not, according to a study from a consumer advocacy group. The study, by the Center for...
AUTO RATES UP 4% IN 2004
Jul 18 2005 // The average cost of an auto insurance policy in Michigan increased 4 percent in 2004, according to a study by the Insurance Institute of Michigan. The average auto insurance premium in 2004 was $1,130, compared to $1,086...
RATE DECREASES APPROVED
Jul 18 2005 // The West Virginia Insurance Commission has approved Govern-ment Employees Insurance Co.’s (GEICO’s) rate filing. GEICO requested approval for a 1.9 percent rate decrease for its private passenger automobile...
Study Maintains Malpractice Rates, Not Payouts, Rising
Jul 18 2005 // Medical malpractice insurance rates rose dramatically during the past five years, but the amount insurers paid out in claims did not, according to a study from a consumer advocacy group. The study, by the Center for...
Two More Fla. Insurers Request Homeowners, Condo Rate Increases
Jul 11 2005 // Florida Preferred Property Insurance and Old Dominion Insurance have joined the list of insurers asking the Florida Office of Insurance Regulation for permission to increase homeowner and condominium policy rates. Florida...
Nev. Doctors’ Insurance Provider Gets Rate Increase
Jul 6 2005 // A nonprofit company created during Nevada’s medical malpractice crisis in 2002 to provide insurance for doctors will be able to increase its rates by an average of nearly 15 percent. State Insurance Commissioner...
RISK RETENTION GROUP PREMIUM SOARS ABOVE $2B:
Jul 4 2005 // As the number of risk retention groups has skyrocketed in the past three years, so has the premium generated by these member-owned insurers enabled by the 1986 Liability Risk Retention Act. Since year-end 2001, the number...
AUTO RESIDUAL MARKET RATES UP 3.8%:
Jul 4 2005 // An average 3.8 percent increase in rates for private passenger auto policies insured through the Virginia Automobile Insurance Plan is now in effect. The industry had requested an average 5.5 percent rate increase. The...
Erie Insurance Requests 2.4 Percent Rate Decrease in W.V.
Jul 1 2005 // The West Virginia Insurance Commission has received a new private passenger automobile rate filing from Erie Insurance Property and Casualty Company. Erie is requesting approval for a 2.4 percent rate decrease for its...
Aspen Forecasts Specialty Lines 2005 Premium Growth
Jun 29 2005 // Bermuda-based Aspen Insurance Holdings Limited announced that it is updating its guidance relating to annual growth in its gross written premiums for 2005. The company now expects growth between 20 and 25 percent higher...
Agents Oppose Crop Insurance Premium Reduction Plan
Jun 29 2005 // The Independent Insurance Agents & Brokers of America testified Tuesday before a Senate committee on the ongoing question of the Premium Reduction Plan (PRP), which potentially opens the door for unqualified and...
