Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Personal Lines Rates Inch Up in August: MarketScout
Sep 5 2012 // Rates for personal lines insurance rose 3 percent in August 2012 compared to rates in August 2011, reported the national property/casualty insurance exchange MarketScout. “Homeowners rates increased by 3 percent on...
Massachusetts Strikes Down 18.8% Workers’ Comp Rate Hike Proposal
Aug 31 2012 // Massachusetts Division of Insurance announced Thursday that it has rejected a request to raise the state’s workers’ compensation rates by 18.8 percent. Massachusetts regulators’ decision to strike down...
Insurers Seek 6.1% Increase in Florida Workers’ Compensation Rates
Aug 24 2012 // Florida employers may see their workers’ compensation rates increase as the National Council on Compensation Insurance announced it is seeking a statewide average 6.1 percent rate hike on behalf of insurers. If...
Reforms May Save Florida Drivers Up to 24.6% on PIP Premium: Report
Aug 24 2012 // Florida’s new no-fault auto insurance law could result in savings of 14 percent up to as much as 24.6 percent for drivers’ on their personal injury protection premiums, although it remains to be seen whether...
Hard Market Generates New E&O Challenges for Insurance Agents
Aug 22 2012 // The soft market has made the job of insurance agents very difficult the last few years. Competition has been extremely fierce, and premiums so low that agents have had to fight for business and write more accounts just to...
West Virginia Workers’ Comp Rates Going Down 9%
Aug 20 2012 // West Virginia employers’ rates for workers’ compensation are heading down again after regulators approved a statewide average 9.1 percent decrease in loss cost rates. Insurance Commissioner Michael D. Riley...
Plaintiff Attorneys: The Hard-Market Saviors
Aug 20 2012 // Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 20, 2012. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous....
Price Tag For Fighting Utah Wildfires Up To $50M
Aug 16 2012 // State officials say it’s cost $50 million to fight wildfires in Utah this season, and that number is expected to keep climbing. Department of Natural Resources chief Michael Styler told lawmakers Tuesday that more...
Florida Regulators Question Castle Key Rate Increases
Aug 14 2012 // Florida regulators are questioning the increases sought by two property insurers that could raise rates on some homeowners by more than 40 percent, even as they reduce their number of policies. Castle Key Insurance Co., is...
Kansas Increases Scrutiny of Some Health Insurance Rates
Aug 1 2012 // Kansas insurance regulators are complying with part of the federal health insurance reform law that requires more scrutiny of health insurance rate increases above 10 percent at a time when Gov. Sam Brownback’s...
Citizens Says No to Higher Rates on New Business; Approves 8.9 Percent Rate Hike
Jul 31 2012 // Officials of Florida’s state policyholders-backed insurer turned away from several controversial plans that would have raised rates on new policies above current policyholder rates and implemented a cap on water...
Rate Reform Must Be Key to Shrinking Citizens
Jul 31 2012 // Albert Einstein once said “a new type of thinking is essential if mankind is to survive and move toward higher levels.” Or, as it often paraphrased, we cannot solve our problems with the same thinking we used...
Chubb Profit Slightly Down; U.S. Commercial Renewal Rate Hike 9% in Q2
Jul 27 2012 // The Chubb Corp. reported $404 million profit for its second quarter, declining 3.6 percent from $419 million reported a year earlier. The results were hampered by weaker investment results and significant catastrophe...
Liberty Mutual: Much More Rate Hikes Needed to Correct Underpricing
Jul 26 2012 // The upward pricing trends are continuing in the U.S commercial lines, but much more rate increases are still needed to correct the chronic underpricing in the industry, Liberty Mutual CEO David Long remarked. “In...
Florida Regulators Question State Farm’s 57% Rate Hike for Landlords
Jul 26 2012 // Florida regulators are expressing concern over a State Farm Florida proposed statewide average 57.3 percent rate hike in insurance rates for landlords that will result in higher premiums while the insurer continues not to...
W.R. Berkley Q2 Profit Rose 32%; Average Renewal Rate Hike Was 6%
Jul 25 2012 // W.R. Berkley Corp. reported $108.8 million for its second-quarter net profit, a 32.4 percent increase compared to the same period one year ago. The Greenwich, Conn.-headquartered insurer also said its profit for the first...
First Quarter Premium Up 4% for P/C Companies
Jul 23 2012 // Homeowners, Private Passenger Auto and Workers’ Compensation Lines Impact Premium Growth Through the first quarter 2012, total direct premium written (DPW) for all property/casualty insurers is up 4 percent compared...
Some Reinsurance Increases But No Hard Market
Jul 23 2012 // Rate increases in the North American and international reinsurance markets are due to modest losses and poor results – not a hardening market, according to a report from Willis Re. The mid-year renewals report,...
South Florida Not Receptive to Citizens’ Rate Hike Plans
Jul 18 2012 // Executives and the board of governors of Florida’s largest state-back property insurer received a rude reception at a public rate hearing in Miami where they indicated they will consider increasing rates on existing...
Long Term Care Liability Loss Rate Expected to Grow: Aon
Jul 18 2012 // Long term care liability loss rates and claim severity have reached an eight-year high and are expected to grow steadily in 2013 against a backdrop of health care provider budget constraints and uncertainty about health...
