Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
IRC Reports Satisfaction With Companies Despite Rising Premiums
Dec 12 2002 // According to a recent Insurance Research Council (IRC) survey of U.S. households, most Americans are satisfied with the companies that provide their personal insurance. More than nine out of 10 respondents with homeowners...
Swiss Re Panel Sees Modest Economic Growth, Continuing Hard Market
Dec 11 2002 // Swiss Re’s third annual “Economic and Insurance Industry Review and Outlook” was held yesterday in New York City. The meeting featured a panel discussion between Swiss Re economists, investment...
Nebraska Insurance Dept. Approves Excess Med Mal Rate Increases
Dec 9 2002 // Tim Wagner, Director of the Nebraska Department of Insurance, announced that rates charged by the Nebraska Excess Liability Fund for excess medical professional liability insurance for doctors, hospitals and other health...
Top 5 Reasons Calif. Homeowners Insurance Rates are Rising
Dec 6 2002 // Representatives from the Personal Insurance Federation of California (PIFC), the Association of California Insurance Companies (ACIC) and the American Insurance Association (AIA) recently announced the top five reasons...
New Swiss Re Study Finds Lowest Growth in Premiums Since 1980’s
Dec 5 2002 // A new Swiss Re Sigma report released yesterday concluded that overall global premium income reached $2.408 trillion in 2001; while that’s a lot, it’s only a “modest 1 percent growth over 2000,”...
Nev. OBGYN Insurance Reimbursement Rates Increase
Dec 3 2002 // In an effort to stem the tide of departing obstetrics and gynecological physicians leaving Clark County, Physician’s IPA announced it is increasing the rate of insurance reimbursement to its OBGYN doctors. The...
Allstate Gets Auto Rate Increase in Louisiana
Nov 26 2002 // The Louisiana Insurance Rating Commission granted Allstate Insurance Co. a $21.9 million auto policy rate increase. The rate hike is the second the company has received in the past nine months. According to the New Orleans...
Workers’ Comp Rates Reduced in Oklahoma
Nov 25 2002 // The Oklahoma State Board for Property and Casualty Rates, chaired by Insurance Commissioner Carroll Fisher, voted to reduce the loss cost component of workers’ compensation rates by 2 percent. The reduction is...
Hike Requested for S.C. Workers’ Comp Rates
Nov 22 2002 // Workers’ compensation rates in South Carolina would rise by an average of 20.3 percent if a rate hike request filed by the National Council on Compensation Insurance (NCCI) is approved by the South Carolina...
State Farm Seeks Auto Rate Increase in Ala.
Nov 22 2002 // At a Dec. 4 public hearing, the Alabama Department of Insurance will consider requests by State Farm Mutual Auto Insurance Co. and State Farm Fire & Casualty raise auto insurance rates in that states. According to the...
Montemayor Rejects TWIA Rate Hike Request
Nov 19 2002 // Texas Insurance Commissioner Jose Montemayor rejected the Texas Windstorm Insurance Association’s request for a 10 percent rate increase for wind and hail coverage of homes in the 14 coastal counties and part of...
Florida to See WC Premiums Hikes
Nov 15 2002 // Workers’ compensation premiums may rise by an average of 15 percent next year for many Florida employers, with some employer groups paying as much as a 42 percent rate increase, according to Florida Treasurer and...
IRC Report Shows Falling Auto Accident Rates, Higher Injury Claim Rates
Nov 12 2002 // The frequency of auto accidents since 1980 has dropped by 16 percent. During the same time period, however, the frequency of auto injury claims rose 26 percent. These findings are revealed in a study recently released by...
Selective Third Quarter Premiums Up 13%
Nov 7 2002 // Selective Insurance Group, Inc. (Nasdaq: SIGI) today reported net income of $11.1 million, or $0.41 per diluted share, for the third quarter ended September 30, 2002, compared with $2.1 million, or $0.08 per diluted share...
Swiss Re’s Chief US Economist Comments on Fed’s Rate Reduction
Nov 7 2002 // Swiss Re’s chief US economist, Kurt Karl, stated that the Federal Reserve Board’s decision to lower the target federal funds rate to 1.25 percent from 1.75 percent was an attempt to “bolster the economy...
PartnerRe Weathers the Storm: Cuts Q3 Losses, Premiums Up 45%
Nov 4 2002 // Despite loss estimates of around $120 million from this summer’s floods in Germany and Eastern Europe, Bermuda’s PartnerRe had a relatively good third quarter, narrowing its net loss for the three months to...
Chubb Notes Written Premiums Grow By 33 Percent
Oct 30 2002 // The Chubb Corporation reported that net written premiums grew 33 percent as insurance rates continued to rise in all three strategic business units and as the company continued to attract new customers. Chubb had an...
Harleysville Reports 16% Commercial Premium Growth
Oct 28 2002 // The Harleysville Group Inc. of Harleysville, Pa. announced results for the third quarter of 2002. Company chairman and CEO Walter Bateman noted that commercial lines also achieved a combined ratio of 100 percent....
A.M. BEST E&S REVIEW REPORTS 35 PERCENT INCREASE IN DIRECT PREMIUM VOLUME
Oct 28 2002 // The U.S. excess and surplus lines market reported a 35 percent increase in direct premium volume in 2001, according to the “Annual Review of the Excess & Surplus Lines Industry-September 2002,” released by...
RPNI HOSTS NOV. CONF. ON NAVIGATING THE HARD MARKET
Oct 28 2002 // RiskProNet Intl. (RPNI), is holding a conference on “Navigating the Hard Market” at the Scottsdale Conference Resort in Scottsdale, Ariz., Nov. 10-12. According to RPNI executive director Gary Normington,...
