Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Wash. L&I Adopts 3.7% Workers’ Comp Rate Increase
Nov 23 2004 // The Washington Department of Labor and Industries finalized an average 3.7 percent rate increase for workers’ compensation insurance in 2005. The increase takes effect Jan. 1 and will raise an additional $52 million...
Texas Judge Strikes Down Rate Rollbacks for State Farm, Farmers
Nov 22 2004 // TDI, Lt. Governor vow to continue efforts on behalf of homeowners. A state district judge in Texas on Nov. 8, 2004, overturned mandated rate rollbacks in homeowners insurance for State Farm and Farmers insurance companies,...
OKLA. OKs MED-MAL RATE HIKE:
Nov 22 2004 // The Oklahoma Insurance Department approved a rate increase for medical professional liability carrier NCMIC Insurance Co. NCMIC applied for a rated increase in August 2004. It sought a rate increase of 23.2 percent with an...
PXRE Group Prices $125 Million Equity Offering
Nov 19 2004 // Bermuda-based PXRE Group Ltd. announced that it has priced a public offering of 5,251,686 shares of common stock at $23.75 per share, consisting of 3,724,803 shares offered by the Company and 1,526,883 shares offered by...
Garamendi Recommends 2.2 Percent Reduction in Workers’ Comp Pure Premium Rates
Nov 17 2004 // California Insurance Commissioner John Garamendi called for a 2.2 percent reduction pure premium rates for workers’ compensation insurance in a Nov. 17 conference call to the media. “My current advice to the...
More Fla. Companies Request Premium Hike
Nov 14 2004 // A handful of insurance companies doing business in Florida, including market leader State Farm, want to raise their average homeowners’ rates by as much as 25 percent. The requests filed with the Florida Office of...
State Farm Asks to Hike Fla. Policy Rates
Nov 12 2004 // State Farm Florida Insurance Co. has requested a 5 percent increase on all its homeowner and condominium policyholders due to what the company calls, higher costs of doing business. State Farm has more than 900,000...
Mo. Malpractice Claims Fall But Premiums Rise
Nov 9 2004 // The number of medical malpractice claims filed and paid is declining in Missouri, yet physicians’ premiums are rising, according to a report from the state Insurance Department. New medical malpractice claims dropped...
MO. HEADING FOR LOWEST COMP RATE HIKE SINCE 2000:
Nov 8 2004 // Results from 2004’s first nine months indicate Missouri should post its lowest rate of premium increases for workers’ compensation insurance since 2000, according to Department of Insurance Director Scott...
Oklahoma Okays Rate Increase for Med-Mal Insurer
Nov 5 2004 // The Oklahoma Insurance Department reported that a requested rate increase for medical professional liability insurance carrier NCMIC Insurance Company has been approved. NCMIC applied for a rate increase in August 2004,...
Nev. Commissioner Denies Request to Increase Auto Insurance Rates
Nov 1 2004 // Nevada Insurance Commissioner Alice Molasky-Arman has denied the request of the Progressive Companies that are marketed through independent agents for a 5.3 percent increase in auto insurance rates. This filing would have...
Mo. Heading for Lowest Comp Rate Increase Since 2000
Oct 28 2004 // Results from 2004’s first nine months indicate Missouri should post its lowest rate of premium increases for workers’ compensation insurance since 2000, according to Department of Insurance Director Scott...
MARKETSCOUT: PROPERTY MARKETS HALTS RATE REDUCTION:
Oct 25 2004 // In its market barometer update for the month of September, MarketScout CEO Richard Kerr said the hurricane season losses will put a halt to property rate reductions. “In fact,” he said, “we anticipate...
KPMG: EXECS LESS BULLISH ON PREMIUM GROWTH:
Oct 25 2004 // KPMG LLP, the audit, tax and advisory firm, conducted a real-time survey at its 16th annual insurance industry conference held Sept. 27-28. Even before the full impact of the recent hurricane activity was known, the...
Q3 Commercial P/C Premiums Continue Fall
Oct 20 2004 // Commercial property/casualty insurance premiums continued to decline significantly during the third quarter of this year, with two-thirds of all large and medium accounts experiencing drops of up to 20 percent and an...
Ins. Rates for Hospital Professionals, Physicians May Slow in 2005
Oct 13 2004 // The trend of high insurance rates experienced by hospital professionals and physicians over the past three years shows signs of slowing in 2005, according to a study released today by Aon risk services experts. Aon’s...
According to Study, Insurers Continue to Price-Gouge Doctors Despite Falling Med-Mal Payouts
Oct 12 2004 // With the issue of medical malpractice and “tort reform” becoming an increasingly discussed topic this election year, Americans for Insurance Reform (AIR) announced the release of a new study of medical...
WCIRB RECOMMENDS 3.5 PERCENT INCREASE IN RATES:
Oct 11 2004 // At a Department of Insurance rate hearing in San Francisco on Sept. 15, the Workers’ Compensation Insurance Rating Bureau recommended that insurers raise workers’ comp rates by 3.5 percent in January 2005....
Best Reports 28% Increase in Direct Premium Volume for Surplus Lines
Oct 11 2004 // A special report released by A.M. Best Co. concludes that at the end of 2003, direct premium volume for the surplus lines industry increased by about 28 percent over the prior year, which followed an estimated 62 percent...
RATE HIKES IN LOUISIANA:
Oct 11 2004 // Some southern Louisiana residents will see average rate hikes of 27 percent for homeowners insurance and some may pay 50 percent more, as a result of the Louisiana Insurance Rating Commission’s approval of a new...
