Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
State Farm Seeks 10% Homeowners Rate Hike in Texas
Sep 14 2011 // State Farm Insurance has filed notice seeking an average 10 percent increase in Texas homeowner rates. But company officials say discounts will be boosted to hold the actual premium hike to 1.4 percent statewide. The...
Florida’s Citizens to Phase-In Big Sinkhole Insurance Rate Hike
Sep 13 2011 // Florida residents who have sinkhole insurance through the state-backed property insurer will see any premium increases phased-in over a number of years based on a new policy of the insurer. The Citizens Property Insurance...
Prices Up in All Commercial Lines: Towers Watson
Sep 13 2011 // In an indication that the market may be hardening, commercial insurance prices in aggregate increased by nearly 1.5 percent during the second quarter of 2011. It’s the first time since the fourth quarter of 2003 that...
Hannover Re Sees Reinsurance Prices Rising Up to 8%
Sep 13 2011 // Hannover Re , the world’s third-biggest reinsurer, said it saw reinsurance prices rising by 3-8 percent next year, a brighter outlook than that of its two bigger rivals. “It is our expectation that the...
Workers’ Comp Rate Decrease Filed in Oklahoma
Sep 5 2011 // Oklahoma’s overhaul of its workers’ compensation laws became effective Aug. 26, 2011, and almost immediately a filing was made to reduce workers’ comp insurance rates in that state. Oklahoma Insurance...
Home Insurers in Georgia Seek Rate Hikes
Aug 31 2011 // A year after most Georgia insurers increased homeowners premiums by 9 to 23 percent, a new wave of increase requests is pending. State Farm, Georgia’s largest writer of homeowners policies, is seeking a 7 percent...
Filing Aims to Reduce Oklahoma Workers’ Comp Rates
Aug 29 2011 // Oklahoma Insurance Commissioner John Doak announced the National Council on Compensation Insurance Inc. (NCCI) has filed to reduce workers’ compensation insurance rates in Oklahoma by 1.7 percent effective Jan. 1,...
Texas Medical Liability Trust to Reduce Rates, Pay 18.5% Dividend
Aug 25 2011 // Texas Medical Liability Trust announced a rate reduction for TMLT policyholders and an 18.5 percent dividend for renewing policyholders, effective Jan.1, 2012. The average rate decrease will be 6.9 percent, but will vary...
Hurricanes May Be Catalyst for Insurance Rate Increases
Aug 23 2011 // Hurricane Irene, threatening to become the first hurricane to hit the United States in three years, could be the catalyst the insurance industry has been seeking in its quest for across-the-board premium increases after...
HARD MARKET RETURNS!!
Aug 15 2011 // Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 15, 2011. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous....
Do Flat Premums in Q2 Signal Soft Market Is Near Bottom?
Aug 11 2011 // Renewal premiums in the second quarter were essentially flat, suggesting that the soft commercial lines insurance market may be close to its bottom, risk managers report. Premiums for three of four lines tracked by the...
Florida Officials Weigh Next Step in Citizens’ Rate Hikes
Aug 8 2011 // While state officials are trying to digest Citizens Property Insurance Corp.’s proposed triple-digit sinkhole rate increase, other elected officials are taking their case to the public. Senator Mike Fasano, R-New...
Florida Considers Phasing-In Big Sinkhole Insurance Rate Hikes
Aug 4 2011 // Florida Chief Financial Officer Jeff Atwater has urged state insurance regulators to consider an affordable “glide path” for homeowners seeking to buy sinkhole insurance from Citizens Property Insurance...
Meadowbrook Sees Operating Income Decrease, Premium Increase in Q2
Aug 3 2011 // Meadowbrook Insurance Group Inc., based in Southfield, Mich., reported second quarter 2011 net operating income of $8.5 million, compared to $12.6 million for the same period last year. The accident quarter combined ratio...
State Auto Reports Increase in Net Loss and Premium Written in Q2
Aug 2 2011 // Columbus, Ohio-based State Auto Financial Corp. reported a second quarter 2011 net loss of $201.4 million, or $5.01 per diluted share, versus a net loss of $26.2 million, or $0.66 per diluted share, for the second quarter...
Double Digit Rate Hikes for Allstate in Florida
Aug 1 2011 // Florida’s consumer advocate says Allstate’s two Florida home insurers are among the state’s best run and deserve double-digit rate increases along the lines they have requested. The Allstate units, Castle...
Top 25 Carriers’ Premium Growth Jumps 11.4% Q1 2011 vs Q1 2010
Aug 1 2011 // Property/casualty insurance companies have faced tough economic decisions over the last few years. Experts and analysts have expressed concern over soft pricing exhibited in the underwriting cycle. To avoid the...
Mitigation Reviews Hike Premiums for Insureds of Florida Citizens
Aug 1 2011 // Florida property owners who purchased coverage from the state- run property insurer have seen their premiums increase by an average $476 as a result of the insurer inspecting their property. Citizens Property Insurance...
P/C Commercial Prices Showed Modest Increases in Q2: Brokers’ Survey
Jul 28 2011 // Pricing in the U.S. commercial property/casualty market showed modest increases in the second quarter of this year, compared with the first quarter. That’s according to The Council of Insurance Agents &...
Florida Citizens Proceeds with Bid for 400% Sinkhole Rate Hike
Jul 28 2011 // Florida residents who purchase sinkhole insurance through the state-back Citizens Property Insurance Corp. could be looking at increases of more than 400 percent for the optional coverage next year. By a 4-0 vote, the...
