Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Insurers Seek 1% Increase in Florida Workers’ Comp Rates
Aug 16 2013 // Florida’s employers can look forward to little, if any, change in their 2014 workers’ compensation rates as the state’s industry-backed rating agency has filed for a modest statewide average 1 percent...
Texas Automobile Insurance Plan Association Rates to Rise
Aug 12 2013 // Rates charged for private passenger automobile insurance provided through the Texas Automobile Insurance Plan Association (TAIPA) will increase overall by 5.6 percent, the Texas Department of Insurance reports. New rates...
NCCI Filing Seeks Decrease in N.H. Workers’ Comp Loss Costs, Assigned Risk Rates
Aug 9 2013 // The National Council on Compensation Insurance (NCCI) recently delivered a workers compensation loss cost filing to the New Hampshire Insurance Department. Based upon its review of the most recently available data, NCCI...
Mississippi Wind Pool Rates to Rise
Aug 9 2013 // Insurance rates for the state wind pool are set to increase Dec. 1 on renewals and new policies. The Sun Herald reported that a Mississippi Insurance Department filing shows owners of homes and mobile homes will see hikes...
Florida CFO: Why Aren’t Florida Property Rates Falling Along with Reinsurance?
Aug 9 2013 // Florida’s top financial officer is questioning regulators on why reports of significantly lower reinsurance costs worldwide are not translating into reduced premiums for homeowners around the state. Chief Financial...
NCCI Files for 4.5% Decrease in Illinois Work Comp Advisory Rates
Aug 9 2013 // The National Council on Compensation Insurance (NCCI) has filed for an 4.5 percent decrease in voluntary advisory insurance rates in Illinois, effective Jan. 1, 2014. The Illinois Workers’ Compensation Commission...
Marsh Q2 Insurance Revenue Up 3%; Sees ‘Modest’ Price Increases
Aug 8 2013 // Marsh & McLennan Cos. (MMC) reported its 2013 second-quarter net profit of $388 million, up 17.9 percent compared to $329 million net profit reported during the same quarter one year ago. Net profit for the first six...
Commercial Rate Increases Slowed in July: MarketScout
Aug 6 2013 // After four months of going up at 5 percent, commercial property/casualty insurance rates have moderated. The July 2013 rate increase was plus 4 percent, according to MarketScout’s market index. Rate increases for...
Prices Up Again in Q2 But Market Hardening May Be Moderating: Council
Aug 5 2013 // Commercial property/casualty pricing continued to gently creep upwards in the second quarter, however signs of some moderating of increases also surfaced. The Council of Insurance Agents & Brokers’ quarterly...
Hanover Q2 Profit Rises to $53M; Strong Pricing Environment Cited
Aug 1 2013 // The Hanover Insurance Group Inc. reported net income of $53.4 million for the 2013 second quarter, an increase of 157 percent compared to $20.8 million net income during the same period a year ago. The net income for the...
Rates Up Moderately in U.S. in Q2 But Down Elsewhere: Marsh
Jul 31 2013 // Insurance rates in most major regions including Latin America, Asia-Pacific, the UK and continental Europe declined modestly in the second quarter of 2013, while rates in the U.S. rose moderately, according to insurance...
Crop Insurance, High Crop Prices Leading to Eco-Catastrophe: Environmental Group
Jul 31 2013 // Sustained high prices for corn, soybeans and wheat combined with record U.S. crop-insurance payouts are encouraging farmers to plow fragile lands and put ecosystems at risk, an environmental advocacy group said. Northern...
Chubb Q2 Profit Jumps 43% to $579M; Renewal Rates Up in All Business Units
Jul 26 2013 // The Chubb Corp. reported its 2013 second quarter net income of $579 million, a 43.3 percent increase from $404 million net income posted a year ago. The company said it benefited from higher rates and stronger underlying...
New Capital Pushing Cat Reinsurance Prices Down 5-15%: Ace’s Greenberg
Jul 25 2013 // Ace Ltd. Chief Executive Officer Evan Greenberg said the influx of Wall Street capital into the reinsurance industry is pressuring rates and that he is prepared to cut sales of backstop coverage. Prices for catastrophe...
Prices Up Again in Q2 But Market Hardening May Be Moderating: The Council
Jul 24 2013 // Commercial property/casualty pricing continued to gently creep upwards in the second quarter, however signs of some moderating of increases also surfaced. The Council of Insurance Agents & Brokers’ quarterly...
Investors See Travelers’ Cuts in Auto as Sign Rate Hikes Have Peaked
Jul 24 2013 // Travelers Cos.. Inc. said it would cut jobs and reduce prices of auto insurance, steps investors took as an indication that rates had risen too far and competition was increasing. The company’s shares fell 4 percent...
W.R. Berkley Q2 Profit Up 6%; Rates Up 6.5%; CEO Comments on Berkshire
Jul 23 2013 // W.R. Berkley Corp. reported $116 million net income for its 2013 second quarter, up more than 6 percent from $109 million net income posted one year ago. The net income for the first six months of 2013 came in at $233...
Florida’s Citizens Seeks Rate Hike, Sinkhole Increase Cap
Jul 22 2013 // Florida’s state-backed property insurer requested a statewide average 6.6 percent increase in homeowners’ rates along with a cap on sinkhole rate increases in three high-risk counties at between 20 percent and...
North Carolina Residual Market Issues $500 Million in Cat Bonds; Rate Hikes Go Into Effect
Jul 16 2013 // North Carolina’s two residual homeowners insurance markets have jointly issued $500 million in pre-event catastrophe bonds to ensure they have enough money on hand to quickly pay claims following hurricanes and other...
Coastal Lawmakers Seek Delays in Flood Insurance Changes, Rate Hikes
Jul 8 2013 // Just a year after Congress imposed significant changes in the government’s oft-criticized flood insurance program, howls of protest from homeowners facing higher premiums have coastal lawmakers pressing for delays...
