Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Global Commercial Insurance Rates Rise 15% in Q3 as Moderation Continues: Marsh
Oct 26 2021 // Global commercial insurance prices increased 15% in the third quarter of 2021, which was the same rate of increase recorded in the previous quarter, according to the Global Insurance Market Index released by insurance...
Reinsurance Price Increases Support Improving Outlook for Sector: Fitch
Oct 26 2021 // Reinsurers’ plans to continue raising premium rates during the January 2022 renewals are likely to contribute to stronger profitability and an improving sector outlook, according to Fitch Ratings. Fitch said it...
Munich Re, Hannover Re Expect Rising Prices After Floods in Germany
Oct 18 2021 // German reinsurance companies Munich Re and Hannover Rueck said on Monday they expect rising prices for their business in Europe next year, citing mid-July floods in central Europe, inflation and the coronavirus...
MGAs Can Build Broker Relationships – Even in a Hard Market: Aston Lark’s CEO
Oct 15 2021 // How can managing general agents build broker relationships during a hardening market when insurers have much less incentive to provide capacity? After more than 25 years as a broker, Peter Blanc, CEO of the Goldman...
Idaho’s Workers’ Comp Rates Decreasing 7% for 2022
Oct 13 2021 // The National Council on Compensation Insurance recently submitted its annual rate recommendation. NCCI’s recommendation is based on claims volume, claims utilization, workforce, and wages, as well as any changes in...
Following Last Year’s Rate Hike, Alabama DOI to Hold Hearing on Comp Decrease
Oct 12 2021 // The Alabama Department of Insurance will hold a hearing Nov. 16 on a proposed, significant decrease in workers’ compensation loss costs and rating values. A filing by the National Council on Compensation Insurance...
Florida Regulators to Hold Hearing on Comp Rate Decrease
Oct 5 2021 // Florida insurance regulators are set to hold two hearings in the next three weeks to examine workers’ compensation rates and worker notification issues. On Oct. 14, the Office of Insurance Regulation will host a...
Rates to Rise for Millions of Homeowners Under National Flood Insurance Program
Oct 4 2021 // The federal government Friday rolled out a flood-insurance program revamped to reflect worsening climate change, a program that will raise rates for millions of homeowners in wealthy coastal areas and humble inland...
U.S. Surplus Lines Industry Grew Premium 17.5% in 2020
Oct 4 2021 // The U.S. surplus lines market experienced direct premium growth of 17.5% in 2020, the largest year-over-year premium increase since 2003, according to an AM Best report. The 2020 increase in direct premium written comes on...
Why This Is Not a ‘Standard’ Hard Market and Other Views on Today’s Insurance Market
Sep 29 2021 // Interesting. Fluctuating. Moderating. Fun. Those are the words that Patrick M. Gallagher, chief executive officer of Gallagher Global Brokerage for the Americas, used to respond to a question about the state of the...
Washington Proposes 3.1% Increase in Workers’ Comp Rates for 2022
Sep 21 2021 // The Washington Department of Labor & Industries is proposing an increase in the average price employers and workers pay for workers’ compensation insurance next year. If the proposal is adopted, it would be the...
U.S. Surplus Lines Industry Grew Premium 17.5% in 2020
Sep 16 2021 // The U.S. surplus lines market experienced direct premium growth of 17.5% in 2020, the largest year-over-year premium increase since 2003, according to an AM Best report. The 2020 increase in direct premium written comes on...
P/C Mutual Insurers Continued to Grow Premiums in 2020 Despite Givebacks
Sep 15 2021 // U.S. P/C mutual insurance companies held their own in 2020 despite returning significant levels of premiums during the pandemic. In fact, net premiums written grew by 1.4 percent even with all the givebacks, according to a...
Most Commercial Lines Continuing to Win Healthy Price Increases
Sep 14 2021 // While aggregate U.S. commercial insurance price hikes continue to moderate, most lines are still producing robust price increases, according to Willis Towers Watson. Excess/umbrella produces significant price increases...
Global P/C Premiums Likely to Double by 2040, but Motor Growth Will Slow: Swiss Re
Sep 8 2021 // Global property/casualty premiums are expected to more than double to US$4.3 trillion in 2040 from US$1.8 trillion in 2020 – growth driven by economic development, urbanization and climate change, according to Swiss...
Global Reinsurance Rates, Demand to Continue Rising in 2022
Sep 7 2021 // Global reinsurance rates are likely to continue rising next year after several years of increases, though the pace of increase may slow, ratings analysts said on Tuesday. Reinsurance rates have been rising in the past few...
Florida Workers’ Comp Rates Set to Decrease, Again
Sep 3 2021 // Florida workers’ compensation rates are set to decline again as the National Council on Compensation Insurance (NCCI) has proposed a statewide rate decrease of 4.9% in the voluntary market. The rates would take...
Agencies Ride Commercial Prices, Reopened Economy to Record Organic Growth
Aug 17 2021 // Buoyed by the hard market and rebounding economy, Independent insurance agents and brokers grew overall by 7.1% in the second quarter, surpassing the 6.9% organic growth reported eight years ago in the second quarter of...
Healthcare Costs, Premiums Likely to Rise for Years Due to COVID-19
Aug 16 2021 // Health implications related to COVID-19 will continue to drive elevated health system utilization long after the acute phase of the pandemic has concluded, likely leading to increasing costs and higher insurance premiums...
California Workers’ Comp Written Premium Down 13%, Report Shows
Aug 16 2021 // California workers’ compensation written premium for the first quarter of 2021 was 13% below that for the first quarter of 2020, according to a quarterly experience report issued by the Workers’ Compensation...
