Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
First Community Seeks 23% Florida Homeowners Insurance Rate Hike
Mar 22 2011 // A group of Florida homeowners could see a double-digit increase in their property premiums if regulators go along with their insurer’s rate request. Florida regulators are holding a public hearing today to consider...
Louisiana Citizens Property Insurance Corp. Rates to Rise July 1
Mar 21 2011 // The governing board of Louisiana’s insurer of last resort has approved an average 6.5 percent annual rate increase for its 119,000 homeowners’ policies. Higher rates for those homeowners covered by Louisiana...
Rhode Island Attorney General Opposes Workers’ Comp Rate Hike
Mar 11 2011 // Rhode Island Attorney General Peter F. Kilmartin said he opposed a 3.9 percent workers’ comp rate hike being sought by the National Council on Compensation Insurance (NCCI) for the state. NCCI’s calculations...
Insurers’ Share Prices Fall on Japan Earthquake News
Mar 11 2011 // Shares in European insurers and reinsurers fell sharply in early trading on Friday after Japan was hit by a massive earthquake, one of the biggest ever recorded. The quake, which measured 8.9 on the Richter scale, hit off...
Soft Market Is Ending, Really It Is, Says SNL Financial
Mar 10 2011 // Could the soft market finally be over? A new analysis concludes that insurance prices are rising and the prolonged soft market is ending, contrary to earlier reports from other analysts. Virginia-based SNL Financial says...
Rates for Architects, Engineers Going Up: Report
Mar 7 2011 // Rates for architects and engineers professional liability insurance, which have been stable, are expected to go up this year, a new study reports. A number of leading insurance companies offering this coverage expect to...
North Carolina to Hear Dwelling Fire Rate Hike
Mar 7 2011 // North Carolina Insurance Commissioner Wayne Goodwin has called for a June 21 public hearing on a proposed 20.9 percent rate increase in dwelling fire and extended coverage rates after the Department of Insurance ruled that...
Climate Change to Drive up Food Prices
Mar 2 2011 // Global food prices are likely to keep rising as production struggles to match demand and extreme weather events become more frequent, a climate-change advisor to the Australian government said on Wednesday. Ross Garnaut...
Architects, Engineers Liability Rates to Go Up: Report
Feb 25 2011 // Rates for architects and engineers professional liability insurance, which have been stable, are expected to go up this year, a new study reports. A number of leading insurance companies offering this coverage expect to...
California’s Median Auto Insurance Rate Decreases 3%
Feb 24 2011 // The median six-month auto insurance rate in California has decreased approximately 3.1 percent over the past 12 months to reach $809 according to InsWeb. Over the same 12-month period, the national median auto insurance...
North Carolina Plans Public Hearing on Dwelling Rate Hikes
Feb 22 2011 // North Carolina Insurance Commissioner Wayne Goodwin has called for a June 21 public hearing on a proposed 20.9 percent rate increase in dwelling fire and extended coverage rates after the Department of Insurance ruled that...
State Farm Florida Cites Sinkhole Claims in Rate Hike Bid
Feb 18 2011 // Citing sinkhole losses and higher operating expenses, State Farm Florida asked state regulators this week for a 28 percent premium increase on its homeowners policies. Sinkhole claims, which are approaching $2 billion over...
United Fire Sees Higher Net Income but Premium Decrease in 2010
Feb 15 2011 // United Fire & Casualty Co., headquartered in Cedar Rapids, Iowa, reported an increase in net income for the fourth quarter and full year 2010, but net premiums earned decreased by 1.9 percent for the year and by 0.7...
Coakley Urges Massachusetts Regulators to Reject Rate Hike by Progressive
Feb 11 2011 // Massachusetts Attorney General Martha Coakley is urging state insurance regulators to reject Progressive’s request for a 23.5 percent rate hike for commercial auto coverage. Coakley’s office says...
Soft Market Not Over Yet
Feb 7 2011 // Average renewal premiums for commercial lines property/ casualty insurance were largely unchanged during the fourth quarter of 2010 and that may remain the case for awhile. According to the RIMS Benchmark Survey, directors...
Iowa Commissioner: Wellmark May Increase Rates by 8.5%, not 10.8%
Feb 3 2011 // After completing a review of health insurer Wellmark’s November 2010 rate increase request, Iowa Insurance Commissioner Susan E. Voss has determined the company will not be allowed to raise individual health...
State Farm Florida Seeks 28% Home Insurance Rate Hike
Feb 1 2011 // State Farm of Florida is requesting a statewide average 27.7 percent homeowners insurance rate increase citing the rising costs of sinkhole claims. The request comes as Florida lawmakers are trying to broker a deal over...
Washington Approves 12% Workers’ Comp Rate Hike
Jan 31 2011 // Washington’s Department of Labor & Industries (L&I) has approved an increase to the state’s workers’ compensation premium rates by an average 12 percent or 6.5 cents per hour for 2011. The new...
Marsh Sees Soft Commercial Insurance Market Continuing
Jan 31 2011 // Another report indicates that soft commercial insurance market conditions that persisted throughout the U.S. in 2010 will continue into 2011. Key commercial insurance market drivers from 2009—including intense...
Oklahoma Senator Seeking Transparency in Health Insurance Rate Increases
Jan 28 2011 // Oklahoma State Sen. Earl Garrison wants insurance companies to be accountable to citizens and justify any rate increases. He has introduced Senate Bill 354, which would ensure that premium rate information relating to the...
