Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
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...
Calif. Commissioner Approves 7.2 Percent Rate Increase on Pure Premium Rates
Jun 9 2003 // California Insurance Commissioner John Garamendi issued a decision June 6 on the Workers’ Compensation Insurance Rating Bureau’s (WCIRB) July 1, 2003 pure premium rate filing that was submitted on April 2,...
Aon CEO Says Rates Will Grow Slowly Until Early 2004
Jun 4 2003 // Aon CEO Patrick Ryan told a group of journalists that premiums will grow slowly through the end of 2003 and into early 2004, according to Reuters. Ryan predicted rates would rise over the next five to seven years. Certain...
N.Y. Healthcare Alliance Warns of Cuts as Med Mal Premiums Rise
Jun 4 2003 // The New York Healthcare Alliance (NYHA), a coalition of healthcare providers and workers from approximately 75 hospitals throughout the state, has issued a warning that, as a result of a recent court ruling, “New...
Conning Research Says P/C Outlook Not as Bright as Rising Premium Rates Suggest
Jun 3 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,...
State Farm Homeowner Rates Increase in Nev.
Jun 2 2003 // State Insurance Commissioner Alice A. 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...
