Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Premium Financing’s Place in the Hard Market
Nov 3 2003 // Premium financing is an integral part of the insurance process. The premium finance company is the only entity that deals with all the parties involved in an insurance policy. In a marketplace where it is vital that the...
Argonaut Reports 54% Increase in Q3 2003 Premiums
Oct 29 2003 // San Antonio-based Argonaut Group Inc. announced financial results for the three- and nine-month periods ended Sept. 30, 2003. According to the company, highlights for the third quarter of 2003 include: · The...
Chubb Reports Q3 Net Income of $259.8 Million; Premiums Jump 23%, Combined Ratio is 96.6%
Oct 28 2003 // The Chubb Corporation reported that net income in the third quarter of 2003 was $259.8 million or $1.37 per share, compared to a net loss of $242.1 million ($1.42 per share) in the third quarter of 2002. Operating income,...
J.D. Power: Homeowners Customers Satisfied Despite Rising Premiums
Oct 27 2003 // — Most Customers Rely on Agent’s Expertise — Customer satisfaction with homeowners insurance remains stable despite a sharp hike in premiums, according to the J.D. Power and Associates 2003 Homeowners Insurance...
Report USAA Will Reduce NJ Auto Rates
Oct 27 2003 // The United Services Automobile Association Group, which insures around 91,000 New Jersey drivers, will reportedly begin lowering rates as of the 1st of December. According to a report that appeared in the NJ Star-Ledger,...
Midland Continues Double-Digit Premium Growth
Oct 24 2003 // Cincinnati-based specialty insurer The Midland Co. reported net income for the third quarter of $4.3 million, or 23 cents per share, including 4 cents in realized capital gains, compared with a net loss of $2.6 million, or...
Perhaps a Softening Market:
Oct 20 2003 // Richard Kerr, chairman and CEO of MarketScout, maintains that the property and casualty insurance market is softening. “As a result, business owners will have more free capital for investing. A 10 percent composite...
NAII Hears N.Y. Sen. Seward Cite Fraud as Cause for Auto Premium Increases
Oct 17 2003 // In an address at the National Association of Independent Insurers Fall Legislative Meeting, Sen. James L. Seward, chairman of the Senate Standing Committee on Insurance, stressed the need for serious fraud reform in New...
Court of Appeals Largely Upholds N.C. Commissioner’s Order to Reduce Auto Rates
Oct 13 2003 // North Carolina Insurance Commissioner Jim Long last week received word that the North Carolina Court of Appeals has largely upheld his order in the 2001 auto insurance rate case to force insurance companies to drop rates...
Surplus Line Premium Sees 82 Percent Increase, Says SLA
Oct 13 2003 // Ted Pierce, executive director of the Surplus Line Association of California (SLA) released the association’s nine month total for processed surplus line premium showing an 82 percent increase over the 2002 premium...
MarketScout Chairman Sees Softening of the Market
Oct 7 2003 // Is the cyclical hard market taking a turn for the soft? According to one expert, that is just what appears to be happening. “The property and casualty insurance market is softening. As a result, business owners will...
S&P Rates Kingsway Debt ‘BB+’- Affirms Group’s ‘BBB’ Rating
Sep 25 2003 // Standard & Poor’s Ratings Services announced that it has assigned its ‘BB+’ global scale preferred share rating to Kingsway Financial Services’ (KFS) “guarantee of Kingsway Financial...
A Hard Market: The Most Opportune Time to Save for a Rainy Day
Sep 22 2003 // In a hard market, like the one we’re experiencing lately, many of the positive effects of the increased revenue can also carry some consequences that can negatively affect your agency down the road. A hard market is...
AMERICAN FAMILY INS. AUTO RATES TO INCREASE IN NEV
Sep 22 2003 // Nevada Insurance Commissioner Alice A. Molasky-Arman has approved the request of American Family Mutual Insurance Company (American Family) for an overall statewide increase of 4.4 percent for private passenger automobile...
NO RISE IN OKLA. WC RATES
Sep 22 2003 // The Oklahoma State Board for Property and Casualty Rates voted to hold the line on a key component of workers’ compensation rates, at least for the next year. The 4-1 decision came after nearly 10 hours of hearings...
JUMP LIKELY IN RESIDENCE RATES
Sep 22 2003 // Rapidly rising construction costs prices, home remodeling and increasingly expensive natural disasters are expected to push the cost of homeowners insurance up by eight percent in 2004, according to a report by the...
Ky. Commissioner Sets WC Rate Increase at 13.1%
Sep 17 2003 // Kentucky Insurance Commissioner Janie A. Miller rejected the filing from an advisory organization expected to be used by most carriers to develop rates for workers’ compensation insurance. According to the Kentucky...
Mich. Auto Rates Up 7% This Year
Sep 15 2003 // Auto insurance rates in Michigan have increased an average of 7 percent so far in 2003, according to the Insurance Institute of Michigan (IIM). Nationally, auto insurance costs are expected to rise 8.5 percent this...
Alliance Says Calif. WC Legislation Full of Loopholes; Premium Reductions Unrealistic
Sep 12 2003 // A 150-page bill that emerged from committee this week following late night bargaining is full of loopholes and won’t produce immediate savings on workers’ compensation policies as some are claiming....
Combined Group Launches Premium Finance Express
Sep 12 2003 // The Combined Group, based in Dallas, expanded its Web-enabled services with the launch of its fully automated PremiumFinanceExpressTM offered by Combined Premium Finance. The program provides independent agents with single...
