Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Washington Keeps Auto Rate Down $26 Million
Dec 22 2009 // Rate reviews by the Washington State Insurance Commissioner’s office reduced proposed automobile insurance rates by $26 million over the first 10 months of this year, a reduction of about 1 percent. In 2008, the rate...
Willis Concludes Financial Institutions’ Hard Market May Soften in 2010
Dec 15 2009 // The hard market for financial institutions (FI) insurance, which has seen insurers push premiums up at renewal by a minimum of 10 to 15 percent, is unlikely to last until the end of 2010, according to the latest Willis FI...
State Farm Rate Hike Not Easy But Necessary, Says Mississippi’s Chaney
Dec 11 2009 // Mississippi Insurance Commissioner Mike Chaney said he was not happy about granting a 19.5 percent homeowners rate increase to State Farm, but he had little choice. “Would you want me to have 26,000 policies canceled...
Drunk Driving Death Rates Decline in 40 States
Dec 9 2009 // Drunken driving fatality rates have fallen in 40 states and the District of Columbia, an encouraging sign that crackdowns are improving highway safety. The Transportation Department said that 11,773 people were killed in...
Online Agency Says Auto Insurance Rates Fell 3.5% in 2009
Dec 8 2009 // Online insurance agency insurance.com said its records show that car insurance rates across the nation declined 3.5 percent in 2009 to $1,803 per year. The company said the decline followed a rate increase of 8 percent in...
State Fund Announces 5% Rate Increase
Dec 6 2009 // California’s State Compensation Insurance Fund announced it has filed a 5 percent rate increase in collectible premium. The revised rate will apply to new and renewal workers’ compensation policies effective on...
Rate Hikes for Florida Citizens’ ‘High Risk’ Properties Approved
Dec 6 2009 // Florida Insurance Commissioner Kevin McCarty has approved rates hikes for about 330,000 of Citizens Property Insurance Corp.’s so-called high-risk coastal property accounts. The statewide average increases include a...
Auto Premiums in Ohio Decline for Third Consecutive Year
Dec 4 2009 // The Ohio Department of Insurance reports that auto insurance rates in that state have declined for the third consecutive year, according to the 2006/2007 Auto Insurance Database Report just released by the National...
New Jersey Car Insurance Prices Down But Still Rank Second Highest
Dec 3 2009 // New Jersey is No. 2 when it comes to the nation’s highest auto insurance rates. Data in the National Association of Association of Insurance Commissioners’ annual report shows the average Garden State resident...
Marsh Says Corporate UK Insurance Rates Could Fall by up to 10% in 2010
Dec 2 2009 // Marsh has forecasted that insurance rates for both UK property and casualty risks could fall by up to 10 percent in 2010. Speaking to a gathering of over 200 clients at the Marsh UK Annual Client Conference, Tim Pritchard,...
Mississippi Allows 19.5% State Farm Coastal Rate Hike
Dec 1 2009 // Insurance rates for about 26,000 State Farm homeowners in three Mississippi coastal counties will rise 19.5 percent beginning in February. Mississippi Insurance Commissioner Mike Chaney announced the rate increase, noting...
Florida Approves Rate Hikes for ‘High Risk’ Coastal Properties
Nov 22 2009 // Florida Insurance Commissioner Kevin McCarty has approved rates hikes for about 330,000 of Citizens Property Insurance Corp.’s so-called high-risk coastal property accounts. The statewide average increases include a...
Marsh Report Forecasts ‘Softening’ in Energy Market in 2010
Nov 20 2009 // A new intelligence report from Marsh concludes that “energy firms are set to enjoy a softening insurance market in 2010, as a result of increasing competitiveness among insurers and capacity being at its highest...
Florida Approves 5.4% Citizens Homeowners Rate Hike for 2010
Nov 15 2009 // Florida’s state-backed and largest property insurer will be allowed to raise its rates for homeowners an average 5.4 percent in 2010. The increase is the first one allowed since lawmakers froze the rates of Citizens...
Pollution Insurance: Peace of Mind or Smart Soft Market Marketing?
Nov 15 2009 // In today’s competitive insurance industry and struggling economy, agents are hard pressed to sell anything more than the bare coverage necessities. But while this challenge may seem daunting, it is not without...
Greenland Ice Melting at Faster Rate, Increasing Sea Level Rise
Nov 13 2009 // A new study, published in the journal Science, concludes that the massive Greenland ice sheets are losing mass more rapidly than previous studies had indicated. The ice sheets of Greenland and Antarctica contain the bulk...
California’s SCIF Announces Five Percent Rate Increase
Nov 11 2009 // California’s State Compensation Insurance Fund today announced it has filed a 5 percent rate increase in collectible premium. The revised rate will apply to new and renewal workers’ compensation policies...
Florida Weighs Citizens’ Rate Hikes for High-Risk Accounts
Nov 10 2009 // Owners of nearly 420,000 high risk properties in Florida could see their insurance premiums rise next year. State-backed Citizens Property Insurance Corp. has requested an average 7.5 percent hike for homeowners with...
Rate of Workplace Nonfatal Injuries, Illnesses Down in Texas for 2008
Nov 10 2009 // Private industry workplaces in Texas reported a total of 234,559 nonfatal injuries and illnesses during 2008. The incidence rate of 3.1 cases per 100 equivalent full-time workers marks the sixth consecutive year that the...
Political Risk Premiums Rising in Response to Resource Nationalism
Nov 5 2009 // Political risk insurance premiums have risen across emerging markets in the last year, fuelled by rising resource nationalism and unrest linked to the financial crisis as well as a renewed concern over risk amongst...
