Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Garamendi Calls for 18% Decrease in Work Comp Pure Premium Rate
Jun 1 2005 // California Insurance Commissioner John Garamendi called for an 18 percent decrease in workers’ compensation pure premium rates and issued the following statement on June 1: “The historic workers’...
Calif. State Fund Files an Average 14% Rate Decrease
Jun 1 2005 // State Compensation Insurance Fund has filed an average collectible rate decrease of 14 percent on new and renewal workers’ compensation policies with an effective date on or after July 1, 2005. The filing includes a...
Zenith Files 12% Reduction in Its Calif. Workers’ Comp Rates
May 31 2005 // Zenith National Insurance Corp. reported that its wholly owned subsidiary, Zenith Insurance Company, has filed with the California Department of Insurance its workers’ compensation rates for use in California on or...
W. Va. Approves Erie Insurance’s 3.1 Percent Rate Decrease
May 27 2005 // A request by the Erie Insurance Group for a 3.1 percent decrease in its private passenger automobile insurance rates has been approved by the West Virginia Insurance Commission. The new rates go into effect August 1. The...
W. Va. OKs Decreases in Westfield Insurance’s Auto, Homeowner Rates
May 25 2005 // A request by the Westfield Insurance Company for a 7.7 percent decrease in private passenger automobile rates, and a 6 percent decrease in homeowners rates, has been approved by the West Virginia Insurance Commission. The...
W. Va. Approves 10 Percent Decrease in State Farm Auto Policy Rates
May 23 2005 // A State Farm Insurance request for a 10 percent decrease for private passenger automobile insurance customers has been approved by the West Virginia Insurance Commission. The request was submitted last month Gov. Joe...
Keeping Retention Rates High in a Softening Market
May 23 2005 // The success or failure of any organization can be traced to customer retention. Agents and carriers who retain the most customers have greater long-term success and profitability than those who consistently lose...
Keeping Retention Rates High in a Softening Market
May 23 2005 // The success or failure of any organization can be traced to customer retention. Agents and carriers who retain the most customers have greater long-term success and profitability than those who consistently lose...
Hawaii Faces Doctor Shortage Due to Rising Med-Mal Premiums
May 23 2005 // Hawaii faces doctor shortages in at least two fields, obstetrics and orthopedics, because fears of lawsuits and the rising cost of medical malpractice insurance premiums are forcing some to quit. Premiums for physicians...
Ark. Commissioner: Healthier People, Insurance Competition Can Reduce Rates
May 20 2005 // Arkansas has a healthy market for auto and homeowners policies, but not for health insurance, the state’s new insurance commissioner Julie Benafield Bowman said. According to the Associated Press, Bowman said she...
The Doctors Company’s Rates Increase in Wyoming
May 20 2005 // The Doctors Company, which provides medical malpractice insurance to Wyoming physicians, has received approval from the state for a 7.3 percent base rate increase for medical malpractice insurance premiums. To be approved,...
New Permanent Disability Regulations to Reduce Workers’ Comp Rates
May 19 2005 // New permanent disability regulations will reduce the cost of workers’ compensation insurance pure premium rates by anywhere from three to 12 percent, said California Insurance Commissioner John Garamendi in a...
Mass. Approves 3% Workers’ Comp Rate Reduction
May 19 2005 // Massachusetts Insurance Commissioner Julianne Bowler has approved a 3.0 percent overall average rate reduction in workers’ compensation rates, a savings of $32.6 million in premiums paid by employers. The new rates...
R&M: Rates Declining in U.K. Commercial Property Market, as Capacity Increases
May 18 2005 // Dublin-based Research and Markets has added a report on UK Commercial Property Insurance 2005 to their offering, which provides “an in-depth analysis of the commercial property market in the UK, analyzing the key...
Committee Votes to Carry Over AIA-Opposed Maine Premium Tax Increase
May 13 2005 // The Joint Labor Committee of the Maine state legislature has voted to carry over a proposal (LD 1021) opposed by the American Insurance Association that would increase the premium tax by 25 percent. This measure would...
S.C. Malpractice Premiums Going Up 12.7 Percent in July
May 12 2005 // Despite a bill signed into law last month in South Carolina capping pain and suffering awards in medical malpractice lawsuits, two of the state’s largest malpractice insurers have announced plans to increase...
Keeping Retention Rates High In A Softening Market
May 9 2005 // The success or failure of any organization can be traced to customer retention. Agents and carriers who retain the most customers have greater long-term success than those who consistently lose clients. While many elements...
Liberty Mutual Becomes 10th Insurer to Reduce N.Y. Auto Rates
May 9 2005 // Liberty Mutual, a Boston-based insurer with more than a quarter-million New York auto policyholders, has agreed to reduce premiums by an average of three percent. Liberty Mutual’s New York customers, who are insured...
AIA Urges Lawmakers to Defeat Maine Premium Tax Increase
May 5 2005 // The American Insurance Association (AIA) is urging Maine lawmakers to reject a proposal (LD 1021) that would increase the premium tax by 25 percent. “This tax increase would damage the state’s economy by making...
W. Va. Insurers React to Passed Legislation, Five Companies Decreasing Auto Rates
May 2 2005 // Insurers in West Virginia, reacting to the legislation singed last week that eliminates third-party, bad-faith lawsuits, have begun to take the first steps toward lowering insurance rates. State Farm Insurance Friday...
