Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Florida OIR Approves Smaller Average Rate Increases for Citizens This Year
Feb 10 2025 // Just as many Florida property insurers had hoped to see a boost to the private market with a maximum rate increase for Citizens Property Insurance Corp., state regulators have slashed the rate hike by more than half. After...
Slower Growth but Surplus Lines Premiums Still Up 12% in 2024
Feb 6 2025 // The excess and surplus lines market continued to grow in 2024, with premium reaching more than $81 billion, according to annual reports from 15 state stamping offices released by the Wholesale & Specialty Insurance...
NC Rate Bureau Wants 23% Hike in Auto Insurance Rates
Feb 6 2025 // The North Carolina Rate Bureau, basing its filing on input from insurers in the state, has requested a 22.6% average increase in auto insurance rates, starting Oct. 1. The state insurance commissioner will have input and,...
State Farm Seeking Interim 22% Rate Hike for Homeowners in Wake of LA Wildfires
Feb 3 2025 // State Farm General said on Monday it is asking the California Department of Insurance to immediately approve interim rate increases, including 22% average for homeowners. The carrier, the state’s top homeowners...
Will Georgia Gov. Kemp’s Move to Curb Lawsuits Keep Insurance Rates From Rising?
Feb 3 2025 // Georgia Gov. Brian Kemp on Thursday reiterated his simple pitch for lawsuit limits: They’ll halt rising insurance costs. The reality, though, is more complicated. Changes could reduce liability insurance costs for...
Where Homeowners Rates Are Rising—and Who Is Raising Them Most
Jan 24 2025 // According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and American Family Insurance topped a list of 10 insurers ranked by average rate change. The...
North Carolina Settles on 15% Increase in HO Rates
Jan 21 2025 // RALEIGH. N.C. (AP) — Base rates for North Carolina homeowners’ insurance premiums will increase on average by about 15% by mid-2026 as part of a settlement reached by the state Insurance Department and the...
With Waters and Mandates Rising, HoneyQuote Adds Flood Insurance Price Tool
Jan 14 2025 // As more policyholders with Florida’s Citizens Property Insurance are statutorily required to purchase flood insurance, another insurance rate-quoting service has gotten in on the act. Officials with HoneyQuote.com...
Rising US Auto Insurance Rates Are Disproportionately Hurting Classic Car Owners:
Jan 8 2025 // The Meteoric Rise in U.S. Auto Insurance Rates is Being Subsidized by Collector Car Owners According to Classic & Collector Insurer OpenRoad Standard auto insurers continue their efforts to recover from the...
MarketScout: 2024 Composite Personal Lines Rates Up 5.8%; Commercial Rates Up 3.8%
Jan 7 2025 // According to the MarketScout Market Barometer, the composite rate for U.S. personal lines increased about 5.8% in 2024 — the highest yearly jump in a dozen years. For the last quarter of 2024, the composite rate went up...
Global Property Catastrophe Rates-on-Line Down 6.6% During Renewals: Guy Carpenter
Jan 6 2025 // Guy Carpenter reports that average global and regional property catastrophe rates-on-line decreased during the January 2025 renewals in amounts ranging from 5.3% to 7.2%. Guy Carpenter defines rate on line (ROL) as the...
Loss-Free Property Cat Rates Fall 5%-15% as Reinsurer Appetite Grows: Guy Carpenter
Dec 30 2024 // Global reinsurers’ appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5%-15% for loss-free accounts, according to a renewal...
European Insurers’ Fundamentals Resilient to Moderating Premium Rates, Falling Yields
Dec 19 2024 // European insurers approached the new year from a position of strength, having benefited from supportive interest rates and pricing cycles over the past two years. However, 2025 is expected to present more challenges, with...
Massachusetts Weighs Workers’ Comp Rate Hike to Correct for ‘Excessive’ 2024 Cut
Dec 18 2024 // Massachusetts workers’ compensation insurers have filed for a 7.1% increase in average rates for industrial classes beginning July 1, 2025 — the first rate increase since 2016. Why an increase in 2025? According to...
US Commercial Lines Prices Up About 6% Again: WTW CLIPS
Dec 11 2024 // Broker WTW said commercial lines insurance rates increased overall by an average of 6.1% during the third quarter 2024. Quarterly price increases have been around 6% since the end of the pandemic, WTW reported in its...
Missouri to See Reduction in Workers’ Comp Rates in 2025
Dec 6 2024 // The Missouri Department of Commerce and Insurance (DCI) announced that employers should see a reduction in workers’ compensation rates in 2025, marking the fourth straight year of decreased rates. The projected rate...
Ivans Index Shows Most Commercial Lines Renewal Rates Up in November
Dec 5 2024 // Most major commercial lines premium renewal rates were higher month over month, except general liability, which remained consistent with October and Commercial Property and Workers’ Compensation which saw a decrease,...
Despite IRS Scrutiny, Micro-Captives Growing Like Weeds in Hard Florida Market
Dec 4 2024 // Despite continued uncertainty over the future of federal tax rules on micro-captive insurance companies, the instruments seem to be increasingly popular for small businesses, especially in Florida, where rates for...
Washington Workers’ Comp Premium Going up in 2025
Dec 2 2024 // The average cost of workers’ compensation insurance in Washington will go up about 3.8% in 2025, the Washington State Department of Labor & Industries announced. Employers and workers together will pay on average...
5 Ways to Prepare for the End of the Hard Market
Dec 2 2024 // For a long time, the hard market has made it difficult for agents to offer their clients the coverage they want at affordable prices — assuming coverage was available at all. Now, there are signs that this is...
