Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
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...
GM, Ford Fall on Trump Tariffs Seen Adding $3,000 to Car Prices
Nov 27 2024 // Shares of US automakers tumbled on worries that a new round of tariffs imposed by President-elect Donald Trump will cause sticker prices to soar even further. Trump said that he would impose additional 10% levies on goods...
Global Non-Life Insurance Rates ‘Plateauing’ but Nat Cat Losses Delay Market Softening
Nov 22 2024 // Global non-life premiums are expected to hit a decade-high growth level of 4.3% in 2024, following the repricing of risk over the past several years in response to elevated claims, according to Swiss Re’s...
CIAB: All Commercial Lines See Lower Q3 Premium Increases Except Umbrella
Nov 22 2024 // Respondents of a recent survey reported lower premium increases for all lines of business except umbrella during the third quarter. According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey,...
Connecticut Approves 6% Workers’ Compensation Rate Decrease for 2025
Nov 21 2024 // The trend of decreasing rates in Connecticut workers’ compensation insurance will continue as the state’s insurance regulator has approved an industry proposed 6% rate decrease beginning January 1, 2025. The...
Florida OIR Approves 1% Average Workers’ Compensation Rate Decrease
Nov 19 2024 // Florida employers will soon see the smallest decrease in workers’ compensation rates in years – just a 1% reduction from current overall rates in the voluntary market. The Florida Office of Insurance Regulation...
Global Reinsurers’ ROE Jumps to 22% in 2023 but Market Softening Unlikely: AM Best
Nov 18 2024 // AM Best’s population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023 — a five-year high that was driven mainly by favorable investment income and strong underwriting performance....
The Data Behind Rising Homeowners Premiums: By Peril and By State
Nov 18 2024 // The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S. Home...
Ivans Index Shows Commercial Lines Renewal Rates Down in October From August
Nov 6 2024 // All major commercial lines premium renewal rates were lower in October than in August, according to the latest monthly Ivans Index. Premium renewal rate change by line of business for October 2024 highlights include:...
Global Reinsurers’ ROE Jumps to 22% in 2023, but Market Softening Unlikely: AM Best
Nov 1 2024 // AM Best’s population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023 – a five-year high that was driven mainly by favorable investment income and strong underwriting performance. The...
Soft Commercial Market Ahead: Prepare for Underwriter ‘Herd Behavior’
Oct 29 2024 // Executive Summary: During the period 2013 through 2018, the U.S. did not become less litigious nor did Atlantic sea surface temperatures get less warm. Yet rates for U.S. excess liability and Atlantic hurricane both...
Report: Climate Risks Increasing Insurance Rates and Hurting CRE Returns
Oct 29 2024 // Costly reinsurance, inflation, tough regulations, and increasing weather-related claims are driving up property insurance prices—and in turn, that is impacting commercial real estate returns, valuations, and...
Marsh: US Commercial Insurance Rates Up 3% on Hikes in Casualty
Oct 24 2024 // Commercial insurance rates during the third quarter in the U.S. increased 3%, with casualty rates up 10%. According to Marsh’s Global Insurance Market Index — which noted the first decline in global commercial...
Global Commercial Insurance Rates See 1st Quarterly Decline in Seven Years: Marsh
Oct 24 2024 // Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the...
