Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
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...
Florida’s Citizens to Weigh Rate Hikes Today
Jul 16 2012 // The new president of the state-backed Citizens Property Insurance Corp. meets with the insurer’s governing board for the first time, looking for consensus on finalizing the insurer’s rate request for next...
Texas Home Insurance Premiums Up Since 2009
Jul 12 2012 // A report from the Texas Department of Insurance says that homeowners insurance premiums in Texas have gone up 21 percent since 2009. The report that state Insurance Commissioner Eleanor Kitzman presented to a Senate...
Vermont Flood Insurance Customers Could See Rate Hikes of Up to 20%
Jul 9 2012 // Some of Vermont’s estimated 3,700 flood insurance customers could see their premiums increase by up to 20 percent. Since Hurricane Katrina in 2005, the National Flood Insurance Program has been operating at a loss...
Ohio Storm Victims Could Get Interest Rate Reduction
Jul 3 2012 // Small business owners, farmers and other Ohioans affected by severe weather this weekend might be eligible for interest rate reductions on loans to recover or rebuild from the storm damage. Ohio Treasurer Josh Mandel said...
Willis Re Reports Some Reinsurance Rate Increases, but No Market Turn
Jul 3 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 newly release report from Willis Re, the...
P/C Industry Should Not Expect Traditional Hard Market Soon: Hartwig
Jul 2 2012 // Although insurance rates have been drifting upward in recent months, the property/casualty industry is unlikely to see a return to the traditional hard market this year or next, an insurance expert told reinsurance...
City Drivers’ Rates Too High, Too Variable, Says Consumer Group
Jul 2 2012 // The Consumer Federation of America (CFA) says that most good drivers — those with no accidents or moving violations — who live in moderate-income areas in 15 cities are being quoted what the group maintains are high...
State Farm Seeks 14.9% Jump in Florida Property Insurance Rates
Jun 28 2012 // Florida’s third largest property insurer is seeking a statewide average 14.9 percent increase in property rates as part of a plan to shore-up its fiscal condition while revamping the deductibles and discounts it...
Marsh Reports Global Insurance Prices up 1.4% in Q2; Sees Further Increases
Jun 28 2012 // Global insurance prices are set to rise for a third consecutive quarter as the industry strives to bolster its finances after paying near-record catastrophe claims last year, insurance broker Marsh said on...
P/C Industry Should Not Expect Traditional Hard Market Soon: Hartwig
Jun 26 2012 // Although insurance rates have been drifting upward in recent months, the property/casualty industry is unlikely to see a return to the traditional hard market this year or next, an insurance expert told reinsurance...
Swiss Re Chief Economist Sees Rising Rates by Year End
Jun 22 2012 // On the heels of the decision by the U.S. Federal Reserve to maintain the target fed funds rate at zero to 25 basis points Swiss Re’s Chief Economist, Kurt Karl, commented: “The US economy has been weak...
