Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
I.I.I. Reports Auto Rates on the Rise
Sep 8 2003 // Rising costs of medical care, vehicle repair, jury awards, automobile theft and fraud are expected to drive up auto insurance rates by six percent in 2004, according to an analysis by the Insurance Information Institute...
American Family Ins. Auto Rates to Increase in Nev.
Aug 29 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...
J.D. Power and Associates Says Auto Premiums Continue Significant Growth, Customer Satisfaction Stable
Aug 28 2003 // Automotive insurance premiums show no sign of leveling off as rates increased an average of 13 percent since 2002, according to the J.D. Power and Associates 2003 National Auto Insurance Study(SM). Despite increasing...
Nev. Dental Liability Insurance Rates to Increase
Aug 27 2003 // Nevada Insurance Commissioner Alice A. Molasky-Arman has approved revised rates for the National Dental Program insured by Continental Casualty Company. The National Dental Program policies may include professional...
Long Holds Increase in Fire, EC Rates at 13.6%
Aug 11 2003 // Insurance Commissioner Jim Long signed a settlement agreement with the North Carolina Rate Bureau that raises insurance rates on dwelling fire and extended coverage (fire and EC) by an average 13.6 percent statewide....
Md. Society Says Steep Med-Mal Rate Hike Will Disrupt Care
Aug 7 2003 // A proposed steep increase in malpractice insurance rates affecting most Maryland physicians quickly will cause some medical practices to limit their ability to provide care, according to MedChi, The Maryland State Medical...
WCIRB to Propose 12% Increase in Pure Premium Rates Effective Jan. 1, 2004
Jul 28 2003 // The WCIRB Governing Committee recently approved the filing of an average 12 percent increase in advisory pure premium rates to be effective on policies incepting on or after Jan. 1, 2004. The recommended increase was based...
N.B. Consumers Deserve Rate Reductions: Insurers Want to Comply
Jul 28 2003 // To date, companies that insure almost half of Canada’s motoring public in New Brunswick have reportedly filed rate reductions with the province’s Public Utilities Board (PUB) and still more have rate reductions...
ARK. WC RATES JUMP A LITTLE:
Jul 21 2003 // Arkansas Insurance Commissioner Mike Pickens announced an overall loss increase of 1.8 percent in the state’s Workers’ Compensation voluntary insurance market. This small increase is the first for Arkansas in...
Farmers Group Lowers Rates for Kan. Homeowners
Jul 18 2003 // Farmers Insurance Group® announced they are reducing homeowners rates in the state of Kansas. Farmers’ policyholders in Kansas were to see a rate decrease of .7 percent effective July 1. Actual savings will vary...
Arkansas Sees Small Increase in WC Rates
Jul 14 2003 // Arkansas Insurance Commissioner Mike Pickens announced an overall loss increase of 1.8 percent in the State’s Workers’ Compensation voluntary insurance market. This small increase is the first for Arkansas in...
A Hard Market: The Most Opportune Time to Save for a Rainy Day
Jul 7 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...
Mo. WC Pool Will See Average Rates Fall
Jul 3 2003 // For the next year, average workers’ compensation rates will fall slightly for Missouri employers that buy coverage through the state’s “pool” of last resort, according to Scott Lakin, director of...
La. Rating Commission Approves Rate Hikes, Fees
Jun 30 2003 // The Louisiana Rating Commission has approved higher premiums for a few insurers in the state, while also installing an annual fee charged to all insurance companies. The fee is expected to raise about $56.4 million in the...
Swiss Re Economists Say U.S. Economy Entering Slow Patch, Industry Looking At Prolonged Hard Market
Jun 25 2003 // Swiss Re’s Chief Economist said on Wednesday that the U.S. economy is growing slowly – weakness consistent with a Fed cut later today – but will grow more rapidly in the second half of the...
NYSID to Hold Public Hearing on Proposed Workers’ Comp Rate Increase
Jun 24 2003 // The New York State Insurance Department announced that it has scheduled a public hearing on July 3, to consider the application of the New York Compensation Insurance Rating Board (NYCIRB) for a workers’ compensation...
CONNING RESEARCH SAYS P/C OUTLOOK NOT AS BRIGHT AS RISING PREMIUM RATES SUGGEST:
Jun 23 2003 // Despite substantial rate increases over the past three years, property/casualty insurers will not see any dramatic improvement in their financial results by 2004, according to Conning Research & Consulting Inc....
STATE FARM HOMEOWNER RATES INCREASE IN NEV:
Jun 23 2003 // Nevada Insurance Commissioner Alice Molasky-Arman has approved State Farm Fire and Casualty Company’s request for an overall statewide average increase of 5.2 percent, or $2.5 million. This is part of a total...
Progressive’s May Premiums Up 29 Percent
Jun 17 2003 // Mayfield Village, Ohio-based vehicle insurer Progressive Corp. reported that for May 2003, the company produced a GAAP combined ratio of 88.3. Net premiums written increased 29 percent to $910.9 million for the month,...
NAII Says R.I. “Vicarious Liability” Bill Could Increase Auto Premiums
Jun 17 2003 // The National Association of Independent Insurers has issued a bulletin indicating that a bill, scheduled to be considered by the Rhode Island’s House Judiciary Committee, would expand liability for car renters and...
