Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Dewhurst Says TX Homeowners Rates Are up to 18% Too High
Feb 27 2003 // Texas Lt. Gov. David Dewhurst commented that homeowners insurance rates in Texas are running some 12 to 18 percent higher than they should be. According to the Houston Chronicle, Dewhurst made the remarks after Gov. Rick...
Swiss Re’ Expects $74 Million 2002 Loss; January Renewal Rates up 10%
Feb 26 2003 // Swiss Re indicated that it expects to post a net loss in the CHF 100 million ($73.7 million) range for the year 2002, due primarily to weakness in global equity markets, but the company also announced that the January...
P/C Pricing Growth Fastest Since 1986, New York Analysts Told
Feb 10 2003 // The property and casualty industry is well into a rebound from the terrorist attacks of Sept. 11, 2001, with premiums increasing aggressively for more than a year, a trend that will certainly continue throughout 2003 and...
Midland’s Fourth-Quarter P/C Premiums Up 8.9%
Feb 7 2003 // The Midland Co., a provider of specialty insurance products and services, reported fourth-quarter 2002 net income before capital gains/losses of $7.7 million, or 43 cents per share, compared with $9.3 million, or 51 cents...
PIFC Explains Reasons for Recent Homeowners Insurance Premium Increases
Feb 5 2003 // Diane Colborn, vice president of the Personal Insurance Federation of California (PIFC), told the Assembly Insurance Committee earlier today that the most significant factor in recent homeowners insurance premium increases...
FlameOut(R) Alliance Helps Reduce Premium Rates
Jan 29 2003 // Texas-based Summit Environmental Corporation Inc. announced an alliance with Davis-Garvin Insurance Agency of South Carolina and FireGuard Automated Fire Suppression Systems, designed to increase safety and reduce premiums...
P/C Pricing Growth Fastest Since 1986
Jan 28 2003 // The insurance industry is well into a rebound from the terrorist attacks of Sept. 11, 2001, with premiums increasing aggressively for more than a year, according to the Chicago-based Raymond James Financial. Greg Peters,...
Industry Forum Told to Expect Higher Tort Costs, Fewer Hard Market Opportunities
Jan 21 2003 // The length of the current hard market should not be overestimated and the creativity of the plaintiff’s bar to impose new costs on insurers should not be underestimated, a panel of outside experts told insurance...
Lloyd’s Chairman Notes U.S. Premium Income Rises to New High of $8.2B
Jan 16 2003 // In his inaugural speech as Chairman of Lloyd’s of London, Lord Levene confirmed that the U.S. continues to be Lloyd’s largest single market accounting for approximately 40 percent of its business. He announced...
WCIRB’s Q3 Report Reveals Price Increases and Adverse Loss Development
Jan 9 2003 // The Workers’ Compensation Insurance Rating Bureau’s (WCIRB) summary of statewide third quarter 2002 experience shows sharp increases in rates charged to policyholders, declines in claim frequency, and continued...
SLA Reports 104.5 Percent Increase for Processed Surplus Line Premium
Jan 9 2003 // Ted Pierce, executive director of the Surplus Line Association of California, released the association’s 2002 totals for processed surplus line premium showing a 104.5 percent increase over the 2001 premium...
CDI APPROVES AB 749 PREMIUM INCREASE ENDORSEMENT FORMS
Dec 16 2002 // Calif. Insurance Commissioner Harry Low recently issued a decision regarding the WCIRB’s pure premium rate filing, which was submitted to the Commissioner on July 31, 2002. In his decision, the Insurance Commissioner...
Mass. Insurance Division Approves 2.7 Percent Auto Rate Increase
Dec 16 2002 // Massachusetts Insurance Commissioner Julie Bowler announced a 2.7 percent auto insurance rate increase for 2003 after rejecting an average rate increase request by insurers of 7 percent. The smaller rate increase...
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...
