Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Rates Up Again in Q1 as Signs May Point to ‘Stronger Increases’: MarketScout
Apr 18 2022 // During the first quarter 2022 buyers of commercial insurance saw average rate increases across all lines of 6%, according to MarketScout’s Market Barometer. The average increase remained consistent compared to the...
Cyber Premiums Rapidly Grew 74% in 2021: Fitch
Apr 14 2022 // According to estimates by Fitch Ratings, direct written premiums (DWP) for standalone and packaged cyber insurance increased 74% to nearly $5 billion in 2021 compared with overall growth for the property casualty industry...
Rates Up Again in Q1 as Signs May Point to ‘Stronger Increases’: MarketScout
Apr 7 2022 // During the first quarter 2022 buyers of commercial insurance saw average rate increases across all lines of 6%, according to MarketScout’s Market Barometer. The average increase remained consistent compared to the...
Rising Interest Rates: 2 Steps to Avoid Extra Expense
Apr 7 2022 // This post is part of a series sponsored by InsurBanc. It’s amazing how the world has changed during the first quarter of 2022. Globally, there is unrest that is both heartbreaking and nerve-wracking. Domestically, we...
Aircraft Lessors Seeing ‘Horrendous’ Hikes in Insurance Premiums: BOC Aviation
Apr 7 2022 // The likely huge insurance claims related to the cancellation of aircraft leases in Russia is already leading to “horrendous” hikes in the cost of renewing policies, the chief executive of major lessor BOC...
Arizona Auto Insurance Rates Rising on Heels of COVID
Apr 4 2022 // As if spiraling gas prices weren’t enough, motorists across Arizona and the nation are paying more for auto insurance as repair costs and more crowded roads push premium rates higher. After giving customers premium...
Property Catastrophe Reinsurers Show Greater Risk Appetites as Price Hikes Continue
Apr 1 2022 // Reinsurers have boosted their 2022 probable maximum loss (PML) exposures as higher prices continues to attract more capital to property-catastrophe risks, according to Moody’s Investors Service. Reinsurers’...
Hearing on Florida Citizens’ Near-Max Rate Increases Set for March 31
Mar 25 2022 // The Florida Office of Insurance Regulation will hold a hearing on Thursday, March 31, to examine a request by Citizens Property Insurance Corp. for a near-maximum rate increase for most of its policies. Citizens, limited...
Rate Hikes, Telematics, Data Science Leading Allstate Back to Profit
Mar 25 2022 // For the second time this month, a personal auto insurance giant devoted an investor conference to the topic of rate hikes, with Allstate executives also assuring listeners the carrier has various other tools to return to...
Planning, the Pandemic and Price Increases
Mar 23 2022 // This post is part of a series sponsored by Old Republic Surety. Here’s valuable advice you can share with your construction clients, particularly those who require performance bonds. Although this article was written...
Arizona Auto Insurance Rates Rising on Heels of COVID
Mar 22 2022 // As if spiraling gas prices weren’t enough, motorists across Arizona and the nation are paying more for auto insurance as repair costs and more crowded roads push premium rates higher. After giving customers premium...
Inflation Outpacing Premium Increases for Auto and Homeowners Lines
Mar 21 2022 // US Insurers — already hammered by extraordinary losses caused by natural disasters — are failing to raise premiums at a pace that matches the inflation rate, according to the American Property Casualty...
More Price Increases for US Commercial Insurance in Q4 2021: WTW
Mar 21 2022 // U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by carriers was...
Arkansas Workers’ Comp Insurance Rates to Decrease in 2022
Mar 14 2022 // Arkansas Insurance Commissioner Alan McClain announced on March 10 that Arkansas businesses could see another rate decrease in workers’ compensation insurance in 2022. The Arkansas Insurance Department (AID) approved...
APCIA: Inflation Outpacing Premium Increases for Auto and Homeowners Lines
Mar 8 2022 // US Insurers — already hammered by extraordinary losses caused by natural disasters — are also failing to raise premiums at a pace that matches an historic inflation rate, the American Property Casualty Insurance...
More Price Increases for U.S. Commercial Insurance in Q4 2021: WTW
Mar 7 2022 // U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by carriers was...
Florida Keys School Board Surprised by $400,000 Increase in Insurance Premiums
Mar 3 2022 // Florida homeowners aren’t the only ones feeling the pinch from sharply rising insurance premiums. School board members in the Florida Keys were taken aback this week when they were told that property insurance...
D&O Loss Ratios Unchanged by Rate Hikes; Supply Disruption to Fuel Suits
Mar 2 2022 // Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported Monday, citing the impact of social inflation on rising claims...
BP Seeks to Appeal Kansas Town’s Lawsuit Over 2021 Gas Price Hike
Mar 2 2022 // Energy giant BP is seeking to appeal a decision that allowed a small Kansas town’s lawsuit over soaring natural gas prices in February 2021 to proceed. BP, formerly known as British Petroleum, filed two documents...
SCOR Reports 19% Premium Growth in January Renewals, Average Price Hikes of 4.9%
Feb 8 2022 // SCOR reported 19.0% premium growth during the January property/casualty (P/C) reinsurance renewals and an overall average P/C price increase of 4.9%. SCOR said the 19% premium growth figure includes a large structured...
