Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
COMMISSIONER SAYS CALIF. WORK COMP RATES ARE GOING DOWN:
Aug 9 2004 // California Insurance Commissioner John Garamendi announced that workers’ compensation rate filings illustrate a downward trend, but still fall short of his pure premium rate advisory of minus 20.9 percent issued on...
NCCI Requests Work Comp Rate Hikes in Okla.
Aug 5 2004 // Worker’s compensation insurers operating in Oklahoma want a significant increase in the premiums they charge for coverage, the Associated Press and The Oklahoman reported. An industry group representing the companies...
WCIRB to Propose Increase in Pure Premium Rates in January 2005
Jul 22 2004 // The Workers’ Compensation Insurance Rating Bureau will propose a 3.5 percent average increase in the advisory pure premium rates for policies incepting on or after Jan. 1, 2005, based on an analysis of loss and loss...
Survey: Market Index Shows Continued Softening for Commercial P/C Market
Jul 21 2004 // The commercial property/casualty insurance market showed signs of continued softening in the second quarter of 2004, with one-third of the small accounts and more than half the medium and large accounts experiencing...
W.Va. Auto Rates Rising
Jul 20 2004 // West Virginians paid more for auto insurance in 2001 than people in all but 15 other states, according to statistics from the National Association of Insurance Commissioners, the Associated Press and the Charleston Gazette...
N.Y. MED-MAL RATES UP 7%:
Jul 19 2004 // New York Superintendent of Insurance Gregory V. Serio announced that the majority of New York State’s 50,000 physicians will see a 7 percent rate increase in their medical malpractice insurance premiums for the...
CALIF. COMMISSIONER IDENTIFIES STEPS FOR STATE FUND TO REDUCE RATES:
Jul 19 2004 // California Insurance Commissioner John Garamendi released a statutorily mandated report on the State Compensation Insurance Fund’s (SCIF’s) potential to reduce workers’ comp rates based on his review of...
N.Y. Rejects 29% Workers’ Comp Rate Increase
Jul 15 2004 // New York Superintendent of Insurance Gregory V. Serio today rejected the filing submitted by the New York Compensation Insurance Rating Board (CIRB) that sought an overall increase of 29.3 percent in workers’...
RIMS: Soft Market Takes Hold as Commercial Premiums Decline 15%
Jul 15 2004 // In the continuing march toward a soft market, most commercial insurance buyers renewed their policies at the same or lower premiums last quarter, according to a survey of corporate risk managers. Data from the survey shows...
No Hike in British Columbia Auto Rates for 2005
Jul 14 2004 // For the second consecutive year, ICBC will not be increasing basic automobile insurance rates, the corporation announced. ICBC’s submission to the British Columbia Utilities Commission (BCUC), which sets basic...
WCRI: Pennsylvania Workers’ Comp Medical Costs Per Claim Grow at Double-Digit Rate
Jul 14 2004 // The average medical payment for workers’ compensation claims in Pennsylvania rose nearly 14 percent during the most recent period studied, according to a new study by the Workers Compensation Research Institute...
N.Y. Department to Hold Supplemental Public Hearing on Proposed Workers’ Comp Rate Hike
Jul 9 2004 // The New York State Insurance Department has scheduled a public hearing for Tuesday, July 13, to consider the application of the New York Compensation Insurance Rating Board for a workers’ compensation insurance...
Calif. Commissioner Identifies Steps for State Fund to Reduce Workers’ Comp Rates
Jul 9 2004 // Insurance Commissioner John Garamendi released a statutorily mandated report on the State Compensation Insurance Fund’s (SCIF’s) potential to reduce workers’ comp rates based on his review of its...
Another Soft Market Creates a Hard Reality
Jul 5 2004 // Like a commercial airline scrambling to squeeze out a profit in the face of increased competition and skyrocketing fuel prices, many insurance agents find themselves caught in the downward spiral of another soft market...
Swiss Re Economists See Prolonged Hard Market
Jul 5 2004 // Swiss Re’s chief economist believes that strong economic growth, coupled with a slight uptick in inflation, will force the Federal Reserve to raise the federal funds rate to close to 2 percent by the end of...
Most Recent Hard Market May Be Past Its Prime
Jul 5 2004 // Over the period 1989 through 2001, the property/casualty insurance marketplace saw direct written premium grow from $228 billion to nearly $362 billion. This represented a compound rate of increase of approximately 4...
N.Y. Med-Mal Rates to Increase 7%
Jul 1 2004 // New York State Insurance Department Superintendent of Insurance Gregory V. Serio today announced that the majority of New York State’s 50,000 actively practicing physicians will see a seven percent rate increase in...
Maryland Med-Mal Insurer Granted 59.6% Rate Hike
Jun 30 2004 // Maryland medical malpractice insurer, GE Medical Protective Co., has obtained approval for a 59.6 percent rate increase on its medical professional liability policies, slightly less than it had requested. GE Medical had...
Workers’ Comp Rates Decline; Rate Regulation Still an Issue for Lawmakers
Jun 28 2004 // Despite reductions in workers’ comp insurance premiums, California lawmakers will continue to debate the merits of rate regulation. After years of double-digit rate increases, many companies have filed with the...
N.D. COMP BOARD APPROVES 6 PERCENT PREMIUM HIKE:
Jun 21 2004 // The North Dakota Workforce Safety and Insurance (WSI) board of directors has authorized a premium increase for workers’ compensation coverage beginning July 1, 2004, according to a WSI statement. The rate increase is...
