Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Some Data Indicates Increasing Accident Rates in Marijuana States
Apr 1 2019 // Preliminary research indicates that the legalization of recreational marijuana in 10 states has increased accident rates, the Insurance Information Institute said. The group cited an October 2018 study by the Highway Loss...
U.S. Commercial Insurance Prices Inched Up in Q4
Mar 18 2019 // U.S. commercial insurance carriers again earned price increases in the 2018 fourth quarter, but the growth was slight. Premiums during the quarter grew just under 2 percent on average compared to the same period in 2017,...
P/C Direct Premium Written Up 5.9 Percent
Mar 18 2019 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2017, over $636 billion of DPW was reported, a record high for the industry. For 2017, total DPW...
Workers’ Comp Subscription Rate in Texas Fell From 2016 to 2018
Mar 18 2019 // Between 2016 and 2018, the percentage of private sector employers participating in the workers’ compensation system in Texas fell from 78 percent to 72 percent, according to a report released in February by the state...
New Forms, Rate Hikes Likely in 2019 Texas Homeowners Insurance Market
Mar 15 2019 // Texas independent insurance agents might want to warn their homeowner insurance customers that premium hikes and/or increases in deductibles could be on the horizon this year. Homeowners insurers have been filing for rate...
Florida Regulator to Hold Public Hearing on Citizens Rate Increase
Mar 13 2019 // The Florida Office of Insurance Regulation (OIR) will conduct a rate hearing to receive public comment on the proposed rate changes from Citizens Property Insurance Corp. for its business in the Coastal Account (CA),...
Federal Flood Insurance Premiums Could Rise in Flood-Prone Areas Under Trump Plan
Mar 12 2019 // Flood insurance premiums could rise and property values fall in the most deluge-prone areas under a plan the Trump administration intends to roll out in coming weeks to change the way risk is calculated under the National...
U.S. Commercial Insurance Prices Inched Up in Q4
Mar 11 2019 // U.S. commercial insurance carriers again earned price increases in the 2018 fourth quarter, but the growth was slight. Premiums during the quarter grew just under two percent on average compared to the same period in 2017,...
The Lowdown: Renewals Rates & Client Strategies – Date & Time Change
Mar 5 2019 // Notice: There has been a date and time change since the original publishing. If making use of market insights is not among your strong suits, you’re not alone. So where do you obtain the latest rate information to...
Highway Fatalities Level Off After Years of Increasing Rates: National Safety Council
Mar 4 2019 // For the first time since the Great Recession, the U.S. has experienced three straight years of at least 40,000 automobile-related deaths, according to estimates from the National Safety Council. In 2018, an estimated...
2019 Outlook: Rates, Deductibles Likely to Rise Again in Texas Homeowners Insurance Market
Mar 4 2019 // Texas independent insurance agents might want to warn their homeowner insurance customers that premium hikes and/or increases in deductibles could be on the horizon this year. Homeowners insurers have been filing for rate...
Nevada OKs Workers’ Comp Loss-Cost and Assigned-Risk Rate Decreases
Mar 1 2019 // Nevada Insurance Commissioner Barbara D. Richardson approved a filing from the National Council on Compensation Insurance for an average decrease of 8.1 percent for Nevada workers’ compensation voluntary insurance...
Vermont Workers’ Comp Rates to Decrease for Third Year in a Row
Feb 20 2019 // Workers’ compensation insurance will continue to cost less for most Vermont employers when new rates approved by the Department of Financial Regulation (DFR) become effective on April 1, 2019. This is the third rate...
North Carolina Insurers Request 19% Rate Increase for Mobile Home Policies
Feb 19 2019 // The North Carolina Rate Bureau has filed a request to increase homeowners’ insurance rates for mobile home policies of at least 19 percent, according to the North Carolina Department of Insurance (NCDOI). The NCRB,...
State Farm Announces 4.9% Auto Insurance Rate Decrease in Virginia
Feb 15 2019 // State Farm Mutual Automobile Insurance Company will cut its rates in Virginia for the second time in two years. As a result, its overall personal auto rate will drop by 4.9 percent. The total state-wide expected impact for...
Insurer, Credit Union Settle South Dakota Suit over Premium Hikes
Feb 13 2019 // Black Hills Federal Credit Union in South Dakota and a Wisconsin-based insurance company have agreed to pay $3 million to settle a class-action lawsuit claiming they improperly raised insurance premiums on thousands of...
Allstate Q4 Catastrophe Loss Tempered by Higher Premiums, Reduced Auto Claims
Feb 8 2019 // The Allstate Corp. lost $312 million in its 2018 fourth quarter, which was attributable to higher catastrophe losses, lower investment income and a pension settlement charge. Catastrophe losses hit $963 million, versus...
North Carolina Auto Insurers Request 7.6% Rate Increase
Feb 5 2019 // The annual auto insurance filing from the North Carolina Rate Bureau to the North Carolina Department of Insurance calls for an overall statewide average increase of 7.6 percent, according to a statement from Insurance...
Eversource Seeks Rate Hike to Cover Storm Damage Costs in Connecticut
Jan 29 2019 // Connecticut’s largest electric utility has asked the state for permission to charge ratepayers for the more than $150 million it has spent to repair damage caused by five major storms over the past two...
Southeast Officials Focus on Curbing Fraud, Rising Auto Rates, Flood Insurance, Distracted Driving
Jan 29 2019 // For the seventh year in a row, the Florida insurance industry, regulators, and consumer advocates will push for reforms to the state’s assignment of benefits issue that has now become an insurance crisis, according...
