Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
AAA Insurance Affiliate Files 8.7% Auto Rate Reduction
Feb 1 2005 // AAA Texas County Mutual Insurance Company, the insurance affiliate for AAA Texas, has filed for an 8.7 percent average automobile insurance rate reduction effective today for new business and March 14 for renewing...
Md. HMOs Hike Rates to Cover Med-Mal Tax
Jan 27 2005 // As some had predicted, health insurers in Maryland plan to raise their rates to cover a newly enacted two percent tax on HMO premiums. The tax was a focal point of a bitter battle between Gov. Robert Ehrlich and state...
Md. Democrats Hit Redmer for HMO Rate Hike OK; Redmer Points to Legislators’ Approval of Tax
Jan 27 2005 // Maryland Democratic legislative leaders have castigated Insurance Commissioner Alfred Redmer for his blanket approval of a 2 percent increase in HMO premiums, saying he is playing politics with the issue to advance the...
Nationwide Insurance Requests Fla. Statewide 28.3 Percent Rate Increase
Jan 26 2005 // Floridian homeowners with policies issued by Nationwide Insurance Company of Florida, the state’s fourth-largest insurer has asked the Office of Insurance Regulation to approve a 28.3 percent rate increase....
Arthur J. Gallagher Blames Softening Rates, Spitzer for Q4 Profit Decline
Jan 25 2005 // Itasca, Ill.-based brokerage Arthur J. Gallagher & Co. reported fourth-quarter net income of $49.1 million, down from $49.2 million a year ago, though revenue was up 6 percent to $386.9 million. The results fell short...
Willis Report: International Liability Market Softening; Some Sectors Will Not Follow the General Cycle Pattern
Jan 19 2005 // The global insurance market finally emerged at the beginning of 2004 from one of the most intense hard markets for decades, according to a new report issued by Willis titled “International Liability Market...
Big ‘I’ Study Shows Growth in Premium, Market Share
Jan 19 2005 // The overall property/casualty market grew 9.5 percent in 2003, and independent agents and brokers produced 59.4 percent of this market, according to “The 2003 Property Casualty Insurance Market” report recently...
Applied Underwriters Adopts Proposed Calif. Rate Reduction for Workers’ Comp
Jan 19 2005 // Applied Underwriters, a provider in integrated workers’ compensation solutions, adopted the January rate reduction recommended by the California Workers Compensation Insurance Rating Bureau. After a strong 2004,...
Liberty Mutual Asks for 22.3 Percent Fla. Rate Increase
Jan 17 2005 // Liberty Mutual has asked the Florida Department of Insurance Regulation to approve a 22.3 percent rate increase. If approved, the increase would take effect March 14 for new customers and May 4 for renewals. Liberty Mutual...
Error Resulted in Inaccurate Citizens Rate-Hike Reports
Jan 14 2005 // Although information filed by Citizens Property Insurance Corp. with Florida regulators to request rate increases was correct, information provided to the public and media was incorrect, according to Justin Glover,...
2004 Will be Remembered as Beginning of Soft Market
Jan 14 2005 // MarketScout reported recently that calendar year 2004 will end with an average 2 percent increase in composite property and casualty premiums. The year began in January 2004 with increases averaging 11 percent, a major...
Proposed Mo. Bill Aims to Reduce WC Premiums
Jan 14 2005 // Senate Republicans made workers’ compensation the first order of business last Wednesday, hearing testimony on a proposed bill that would reduce the number of injured workers eligible for benefits. Missouri’s...
Groups Repeat Call for Conn. Department to Revisit Insurer’s 90% Med-Mal Rate Hike
Jan 11 2005 // Teaming up to challenge the near doubling of medical malpractice insurance premiums by GE Medical Protective, Connecticut Attorney General Richard Blumenthal, the Connecticut State Medical Society and the Connecticut Trial...
Okla. Legislation Aims to Override April 1 Auto Rate Hike
Jan 11 2005 // Oklahoma vehicle owners could combat an April 1 increase in auto insurance rates if a bill proposed by Rep. Jerry Shoemake (D-Morris) passes the Oklahoma Legislature. Shoemake has filed a petition to override a law,...
Thirteen Fla. Insurers Request 11 to 60 Percent Policy Rate Hikes
Jan 5 2005 // Thirteen Florida insurance companies have requested 11 to 60 percent premium rate increases from the Florida Office of Insurance Regulation (OIR). Regulators will be reviewing the requests this month and will either...
Early Bird Survey Shows Slowing of 2005 P/C Premium Growth
Jan 3 2005 // 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 current and coming year. This year, III invited experts...
N.Y. to Hear 9.5% Workers’ Comp Rate Hike
Dec 30 2004 // The New York State Insurance Department has scheduled a public hearing for Friday, Jan. 7, 2005 to consider the application of the New York Compensation Insurance Rating Board for a workers’ compensation insurance...
Ill. DOI Advises 0.1% Comp Rate Increase
Dec 29 2004 // The Illinois Division of Insurance has approved a 0.1% increase in the advisory rate for workers’ compensation insurance in Illinois for 2005—that’s one-tenth of 1 percent. For comparison’s sake, the...
MetLife Requests 17 Percent Increase in Fla. Rates
Dec 28 2004 // MetLife Auto and Home Insurance is the latest company in Florida to request permission to raise its rates, citing non-hurricane-related losses and asking to increase policyholder’s premiums by an average of 17...
IIAT SAYS HOMEOWNERS RATES DOWN:
Dec 20 2004 // Homeowners who buy insurance from independent insurance agents in Texas should be seeing lower premiums and better coverages, according to a survey conducted by the Independent Insurance Agents of Texas of its 1,800-member...
