Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Massachusetts DOI Rejects FAIR Plan Rate Increase
Jun 9 2014 // Massachusetts Commissioner of Insurance Joseph G. Murphy announced Monday his decision rejecting the Massachusetts Property Insurance Underwriting Association’s (“FAIR Plan”) request to increase its...
ING’s $2.7 Billion IPO to Test Buyer Appetite as Prices Fall
May 29 2014 // ING Groep NV will try to execute Europe’s biggest initial public offering this year even as investor demand declines and competing share sales increase. The largest Dutch financial-services company is seeking to...
Falling Reinsurance Rates by Cat Bond Competition Eroding Primary Prices: Zurich
May 29 2014 // A slide in reinsurance rates under competition from catastrophe bonds is starting to weigh on prices that companies like Zurich Insurance Group AG charge their own customers. The decline in the cost of reinsurance is...
Private Employer Workers’ Comp Rates to Fall Again in Ohio
May 22 2014 // Ohio private employers will again benefit from lower overall workers’ compensation base-rates with a 6.3 percent reduction that will take effect July 1, the Ohio Bureau of Workers’ Compensation (BWC)...
Management Liability: Hard Market or Sea Change?
May 19 2014 // For years, directors and officers, and entity coverage for privately held firms was one of the best deals going, with broad coverage, cheap pricing and low retentions. Over the past several years, market capacity...
Nationwide Reports P/C Premium Up 6% in Q1; Weather Lowers P/C Profit
May 12 2014 // Nationwide reported total operating revenue of $6.1 billion for the first three months of 2014, up 5 percent over the same period last year and steady compared to fourth quarter 2013. First quarter operating earnings were...
Strong Euro Decreases Munich Re’s Q1 Net Profit, Premium Income
May 8 2014 // The world’s largest reinsurer, Munich Re, reported an almost 5 percent drop in net profit in the first quarter, as a strong euro dragged down premium income. “Despite negative currency effects, we almost...
Group Urges N.Y. to Review Auto Insurance Rate Factors
Apr 21 2014 // A consumer advocacy group is urging New York regulators and legislators to undertake a thorough review of rate-making practices by auto insurers in New York. The New York Public Interest Research Group (NYPIRG) said that...
Willis Exec Warns Mutual Insurers Face Increasing ‘Pricing Pressure’
Apr 17 2014 // According to David Thomas, CEO of Market Services & Solutions at Willis, Mutual insurers face increasing pricing pressure so must differentiate themselves to remain competitive. Speaking in a video blog on WillisWire,...
Municipal Bond Insurance Sales Expected to Rise With Interest Rates
Apr 13 2014 // Demand for municipal bond insurance is poised to increase as rising interest rates reduce investor appetite for riskier state and local debt, according to Janney Montgomery Scott. Bond insurance accounted for 4.4 percent...
NAPCO Report: Prices Decreasing, Competition Increasing in P&C Space
Apr 10 2014 // Insurers have become increasingly competitive and are reducing rates for most accounts as a result of low global insured catastrophe losses and added capacity from non-traditional market sources, according to wholesale...
Group Urges New York DFS to Review Auto Insurers’ Rate-Setting Practices
Apr 7 2014 // A consumer advocacy group said its analysis shows some of New York State’s largest auto insurers are charging higher premiums to motorists who have less education and non-professional, non-managerial jobs. The New...
North Carolina Coastal Homeowners Weigh Self-Insuring for Floods Due to Premium Hikes
Apr 7 2014 // Bill Cherry has seen his share of storms buffet his house and his Breezeway Restaurant and Motel near Topsail Beach in North Carolina, a slip of a barrier island just over two blocks wide. But with sharp increases in...
Competition Softens Rate Hikes for Architects, Engineers in 2014: Survey
Apr 7 2014 // Although most insurers providing professional liability insurance for architects and engineers sought to raise rates last year, the size of the increases generally failed to meet their expectations. Nevertheless, nearly...
P/C Reinsurance Market Softer Due to Alternative Capital: Execs
Apr 7 2014 // A new survey from Towers Watson confirms that more than half (55 percent) of property/casualty insurance chief financial officers believe the property reinsurance market is softer than the primary market, while about...
Mercury Ins. Lowers Homeowners Rates in Penn., Seeks to Grow Market Share
Apr 3 2014 // Mercury Insurance said the company is lowering its homeowners insurance rates for Pennsylvania residents by an average of 10 percent. The Los Angeles-based insurer said the rate reduction would help attract more...
In Maine, 3,300 Policyholders Likely to See Flood Insurance Rate Increases
Apr 2 2014 // Thousands of Maine homeowners and businesses could see their rates for flood insurance rise as the federal government attempts to put the troubled National Flood Insurance Program back on sound financial footing. Most of...
Penn. Workers’ Comp Insurance Rates to Decline for Some Employers
Apr 1 2014 // The Pennsylvania Departments of Insurance and Labor & Industry on Monday announced a 5.15 percent workers’ compensation rate reduction, effective April 1. The officials said the reduction would save millions of...
April Renewals Confirm Reinsurance Rates Continue to Fall: Willis Re Chairman
Apr 1 2014 // “Reinsurance rates began to fall last year,” said Willis Re’s Chairman James Vickers in a telephone interview. The January renewals “saw more reductions, and this has continued in...
In Delaware, Over 3,600 Policyholders Face Flood Rate Hikes
Apr 1 2014 // Premiums for thousands of Delaware property owners may increase significantly because of changes to the National Flood Insurance Program, but it seems many residents may not know about impending rate hikes of up to 25...
