Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Massachusetts Workers’ Comp Rates to Rise 1.5%
May 2 2016 // Massachusetts Gov. Charlie Baker’s administration announced on April 20 that the state’s workers’ compensation rates will rise an average 1.5 percent beginning July 1. It’s the first state-approved...
Florida Braces for Rate Hikes, Litigation Due to Workers’ Compensation Fee Ruling
Apr 29 2016 // The Florida Supreme Court’s ruling that the state’s current attorney fee limits are unconstitutional will have serious ramifications on the workers’ compensation market in the state, according to Florida...
Groups: California Auto Repair Regs Will Increase Auto Insurance Rates
Apr 22 2016 // As the California Department of Insurance stages hearings on proposed regulations designed to give more money to auto body repair shops, a handful of property/casualty insurance trade associations are voicing their...
Massachusetts Workers’ Comp Rates to Rise an Average of 1.5%
Apr 20 2016 // Massachusetts Gov. Charlie Baker’s administration announced Wednesday that the state’s workers’ compensation rates will rise an average 1.5 percent beginning July 1. Officials said this nominal increase...
Oklahoma to Hold Hearing on Earthquake Insurance Rate Increases
Apr 19 2016 // Concerned about a competitiveness in the state’s earthquake insurance market, Oklahoma Insurance Commissioner John D. Doak has ordered a public hearing to investigate rising rates. The May 24 hearing will include...
California Consumer Group Wants State Farm Homeowners Rate Reduction
Apr 18 2016 // State Farm has overcharged its customers roughly $78 million since at least July 2015, and should be required to refund that money, Consumer Watchdog told the California Department of Insurance last week. The group wants...
P/C Direct Premium Written Up 2.5 Percent in 2015
Apr 18 2016 // Direct premium written (DPW) for property/casualty (P/C) insurance companies continues to increase, albeit gradually. At year-end 2014, more than $570 billion of DPW was reported. For 2015, total DPW for all P/C insurers...
P/C Price Declines Slow for Buyers: Willis Towers Watson
Apr 18 2016 // The pricing declines enjoyed by most buyers for several renewal cycles are beginning to slow down, raising the likelihood that companies will experience some price increases in various commercial lines of insurance in the...
Low Interest Rates, Soft Market Pricing Hit London Market Insurers: Fitch
Apr 12 2016 // The negative impact of low interest rates and soft market pricing on London market insurers has been partially offset by low levels of large claims, according to Fitch Ratings in a special report. London market insurers...
Georgia to Investigate Allstate Auto Rate Increase
Apr 12 2016 // A Georgia statewide rate increase of 25 percent on Allstate Property & Casualty Insurance Company policyholders has triggered a consumer alert from state Insurance Commissioner Ralph Hudgens. The Georgia Department of...
P/C Price Declines Begin to Slow for North American Buyers: Willis Towers Watson
Apr 8 2016 // The pricing declines enjoyed by most buyers for several renewal cycles are beginning to slow down, raising the likelihood that companies will experience some price increases in various commercial lines of insurance in the...
April Renewals Saw More Price Cuts, but Reinsurance Demand Rises: Willis Re
Apr 1 2016 // While the April 1 renewals saw a continuation of the softening market, there are encouraging signs that price cuts are slowing and reinsurance demand is rising, according to a Willis Re report. For the fourth consecutive...
Munich Re Expects Profit Drop in 2016 on Soft Market, Low Interest Rates
Mar 16 2016 // Munich Re, the world’s second-biggest reinsurer, expects profit to decline this year as falling prices for its products and low interest rates weigh on investment earnings. The company plans to repurchase 1 billion...
Poland’s PZU Reviews Strategy: Plans to Slash Costs, Hike International Premiums
Mar 16 2016 // PZU SA plans to review its strategy to bolster earnings as last year’s profit collapsed to the lowest since its debut in Warsaw in 2010 after being rocked by record-low interest rates. Under Chief Executive Officer...
Nevada Insurance Commissioner Approves Workers’ Comp Rate Decrease
Mar 7 2016 // Acting Nevada Insurance Commissioner Amy L. Parks approved a filing from the National Council on Compensation Insurance for an average decrease of 5.5 percent for Nevada workers’ compensation voluntary insurance loss...
California Commissioner, Allstate Agree to Homeowner Rate Reduction
Mar 7 2016 // California Insurance Commissioner Dave Jones reached an agreement last month with Allstate Insurance Co. and Allstate Indemnity Insurance to reduce the carrier’s homeowner insurance rates statewide by an average of...
Nevada Insurance Commissioner Approves Workers’ Comp Rate Decrease
Feb 29 2016 // Acting Nevada Insurance Commissioner Amy L. Parks approved a filing from the National Council on Compensation Insurance for an average decrease of 5.5 percent for Nevada workers’ compensation voluntary insurance loss...
Massachusetts Bill Aims to Open Up Rate Filings for Discussion
Feb 22 2016 // The Massachusetts Senate earlier this month passed a legislative amendment that would open up home insurers’ rate filings for public discussion. The amendment was proposed by Massachusetts State Senator Mike Barrett,...
P/C Direct Premium Written Up 4.2 Percent
Feb 22 2016 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually, according to a Demotech analysis. At year-end 2014, more than $570 billion of DPW was reported, a record-high...
California Commissioner, Allstate Agree to Homeowner Rate Reduction
Feb 17 2016 // California Insurance Commissioner Dave Jones has reached an agreement with Allstate Insurance Co. and Allstate Indemnity Insurance to reduce the carrier’s homeowner insurance rates statewide by an average of 12.6...
