Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Global Re/insurers See Average Premium Increases of 11% in Q1
Jun 6 2022 // Premium growth during the first quarter of 2022 saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from...
Cyber Insurance Premiums Up 27.5% to Lead All Lines in Q1: CIAB
Jun 6 2022 // According to The Council of Insurance Agents & Brokers’ (CIAB) Commercial Property/Casualty Market Index, capacity for cyber insurance may be decreasing while demand is increasing, which could have driven cyber...
Home, Commercial Rate Hikes Not Enough to Offset Construction Costs
Jun 6 2022 // To counteract rising construction material costs that have increased about 26.7% the first four months of 2022, personal and commercial property insurers will continue to gradually increase rates, said Moody’s...
Report: California Workers’ Comp Written Premium for 2021 Down 2%
Jun 6 2022 // California written premium for 2021 was 2% below 2020 and 14% below 2019, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California issued released its quarterly experience report, an update...
7.9% Average Rate Increase for North Carolina Homeowners Kicks in This Week
Jun 3 2022 // Starting this week, North Carolina homeowners will see insurance premiums rise by an average of almost 8% for new and renewing policies, after a negotiated rate increase took effect June 1. The North Carolina Rate Bureau...
Cyber Insurance Premiums Up 27.5% to Lead All Lines in Q1: CIAB
May 31 2022 // According to The Council of Insurance Agents & Brokers’ (CIAB) Commercial Property/Casualty Market Index, capacity for cyber insurance may be decreasing while demand is increasing, which could have driven cyber...
Global Re/insurers See Average Premium Increases of 11% in 1st Quarter: Gallagher Re
May 31 2022 // Premium growth during the first quarter saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from Gallagher...
Report: California Workers’ Comp Written Premium for 2021 Down 2%
May 26 2022 // California written premium for 2021 was 2% below 2020 and 14% below 2019, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California issued released its quarterly experience report, an update...
Home, Commercial Rate Hikes Not Enough to Offset Construction Costs: Moody’s
May 19 2022 // To counteract rising construction material costs that have increased about 26.7% the first four months of 2022, personal and commercial property insurers will continue to gradually increase rates, said Moody’s...
Asked to Rethink 41% Rate Increase, Florida Farm Bureau Did. New Request is Higher
May 18 2022 // When Florida Farm Bureau Insurance companies filed for a 41% rate increase for homeowners last December, the Florida Office of Insurance Regulation asked company actuaries to sharpen their pencils, review all data and try...
Three More Florida Insurers Asking for Big Rate Hikes at Hearings
May 17 2022 // The Florida Office of Insurance Regulation held hearings Tuesday on major rate increases from three more property insurers: Florida Farm Bureau, First Floridian, and Kin Interinsurance Network. The Kin and First Floridian...
Rapid Cyber Premium Growth by Fairfax, Tokio Marine Increased Share of Market
May 16 2022 // The top cyber insurance carriers in 2021 shifted to include Fairfax Financial Holdings and Tokio Marine U.S. as the marketplace grew 74% to over $4.8 billion, according to a report from Fitch Ratings. Overall, the top...
Zurich Reports Strong Growth in Q1, Driven by Rising Commercial Insurance Rates
May 13 2022 // Zurich Insurance Group has made a strong start to the year and expects to exceed all its financial targets for 2022, despite ongoing inflationary pressures. The company has minimal exposure to the war in Ukraine. Premium...
UK’s Terrorism Reinsurer Pool Re to Reduce Reinsurance Pricing for Insurers
May 10 2022 // Pool Re, Britain’s leading terrorism reinsurer, announced the most significant reduction in its reinsurance pricing in 20 years. The reduction, which will come into effect in October 2022, will vary according to...
Rapid Cyber Premium Growth by Fairfax, Tokio Marine Increased Share of Market
May 9 2022 // The top cyber insurance carriers in 2021 shifted to include Fairfax Financial Holdings and Tokio Marine U.S. as the marketplace grew 74% to over $4.8 billion, according to a report from Fitch Ratings. Overall, the top...
Allstate Outlines ‘Surgical’ Auto Rate Hikes to Combat Inflation
May 6 2022 // Rate increases in Allstate’s auto insurance business are in integral part of the insurer’s overall plan to address the impact of inflation. Wednesday during a conference call with analysts to discuss...
Cyber Premiums Rapidly Grew 74% in 2021: Fitch
May 2 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...
Malpractice Insurance Premiums Increased 22%, Despite Fewer Claims
May 2 2022 // The number of malpractice claims filed against hospitals and physicians dropped 14% in 2020, even as premiums rose 22% on average, according to the most recent report by the American Society for Health Care Risk Management...
Allstate to Increase Magnitude of Auto Rate Hikes in 2022
May 2 2022 // Allstate said it is raising auto insurance rates more due to continued upticks in physical damage and bodily injury severity. The personal property insurer said in a statement on April 21 that first quarter unfavorable...
81% of Flood Insurance Policyholders Will See Rate Increases, Report Says
Apr 26 2022 // When the Federal Emergency Management Agency rolled out a major overhaul to its beleaguered National Flood Insurance Program last April, it promised that bigger, richer homes would bear the brunt of premium increases,...
