Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Commodity Pricing Volatility Increases Under-insurance Risks Says Marsh
Oct 7 2011 // Marsh has issued a report, which highlights the rising gap between insurance coverage amounts and the actual costs that may be incurred in rebuilding and repairing after a loss due to rising commodity...
Survey: A Few More Years Before Med Liability Market Hardens
Oct 6 2011 // According to a new annual rate survey by Medical Liability Monitor, base-rate premiums for medical professional liability insurance (MPLI) continued their downward trend for a sixth consecutive year. The current soft...
Coastal Alabama Rates Going Down
Oct 3 2011 // Alabama homeowners insured by the state’s property insurer of last resort are paying less after the insurer implemented its first rate decrease in three years. The Alabama Insurance Underwriting Association last...
Citizens Goes Along with Reduced Florida Sinkhole Rate Hike Decision
Oct 3 2011 // Florida’s state’s-backed property insurer has indicated it will implement a newly-approved sinkhole rate increase even though it falls far short of what it says it needs. Insurance Commissioner Kevin McCarty...
Workers’ Compensation Rate Hike for Oregon
Sep 30 2011 // The Department of Consumer and Business Services announced the pure premium rate for workers’ compensation will increase 1.9 percent starting in 2012, the first rate hike in Oregon in more than 20 years. The decision...
Florida Regulator Slashes Sinkhole Rate Hike, Lowers Others
Sep 20 2011 // Florida residents who have sinkhole insurance through the state-backed property insurer will not have to pay a proposed statewide average 447 percent increase. Citizens Property Insurance Corp. customers will also be...
Workers’ Comp Rates Advisory Rates Decrease in Illinois
Sep 19 2011 // The Illinois Department of Insurance approved an 8.8 percent decrease in voluntary advisory workers’ compensation rates. The new rate, filed by the National Council on Compensation Insurance, became effective on...
Home Insurers in Georgia Want to Hike Rates
Sep 19 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...
Washington Prepares for Workers’ Comp Rate Increase
Sep 19 2011 // A workers’ compensation rate increase may be in store for Washington for 2012. A final decision is expecetd in December. The state’s Department of Labor & Industries (L&I) has asked the Workers’...
Insurance Rates for Coastal Alabama Homeowners Going Down
Sep 15 2011 // Alabama homeowners insured by the state’s property insurer of last resort are paying less after the insurer implemented its first rate decrease in three years. The Alabama Insurance Underwriting Association last...
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....
