Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Premium Growth: Top 25 Premium Gainers Q1 2009 Versus Q1 2008
Aug 17 2009 // Roy H. Williams is an author and marketing consultant. He is known for his Wizard of Ads trilogy. He founded the Wizard Academy Institute. Although he is credited with saying “Consequently, a young business often...
Calif. Workers’ Comp Rating Bureau to Recommend 22.8% Increase in Rates
Aug 13 2009 // The WCIRB will submit a filing to the California Department of Insurance (CDI) recommending an approximate 22.8 percent increase in pure premium rates (or “claims cost benchmark”) effective Jan. 1, 2010. The...
Louisiana Citizens CEO to Ask for 9% Rate Increase
Aug 13 2009 // The chief executive of Louisiana’s state-backed property insurance company is seeking a 9.2 percent average rate increase for 2010, though he said some policyholders will probably see their rates decrease. John...
Virginia to Consider Increase for Some Workers’ Comp Rates
Aug 12 2009 // The Virginia State Corporation Commission will consider a request to raise workers’ compensation premiums at a meeting in October. The National Council on Compensation Insurance Inc. (NCCI), a rate service...
Has the Declining Economy and Soft Market Affected Your Marketing Plans for 2009/2010?
Aug 6 2009 // Beacon Marketing, Inc. – “Helping to guide your prospecting needs to new destinations” Beacon is coming up on their 2nd year with helping agents across the country write new business and they have been...
Financial Institutions’ Insurance Prices Still Going Up, Says Willis
Aug 5 2009 // Financial institutions faced an average premium hike of 15 percent in the second quarter of 2009, as insurers seek to make up for underwriting losses resulting from a deluge of credit crunch-related Professional Indemnity...
Travelers Earnings Fall 20% in Q2; Net Premiums Down Slightly
Jul 30 2009 // Travelers Cos. Inc. said on Thursday that second quarter earnings fell about 20 percent on lower investment income and underwriting profit. An increase in premium levels helped Travelers’ net policy sales keep pace...
Ohio Auto and Homeowners Insurance Rates Increased in 2008
Jul 28 2009 // Ohio Department of Insurance Director Mary Jo Hudson announced that the average rates for the state’s top 10 private passenger auto insurers increased 0.8 percent in 2008. The average rates for the state’s top...
Louisiana Unemployment Rate Rises; Jobs Increase in Some Sectors
Jul 21 2009 // Louisiana was among the 38 states that recorded higher unemployment rates in June, but the state has experienced job growth during the past year in certain industry sectors. The Louisiana rate of 6.8 percent remains...
Florida’s Denial of State Farm 47% Rate Hike Again Upheld
Jul 21 2009 // A court has upheld Florida Insurance Commissioner Kevin McCarty’s denial of a 47.1 percent home insurance rate hike requested last July by State Farm Florida. According to the Florida Office of Insurance Regulation...
Louisiana Citizens CEO: Rate Hike Probable in 2010
Jul 20 2009 // Louisiana Citizens Property Insurance Corp. CEO John Wortman said the state-backed property insurer will likely seek another rate hike for next year, roughly a 10 percent statewide average increase, on top of this...
Florida’s Citizens Rate Hikes Fall Short of Industry Hopes
Jul 20 2009 // After three years of no increases, Florida’s Citizens Property Insurance Corp. is about to hike premiums up to 10 percent for many of its policyholders, although not for as many as some insurance insiders and...
California Commissioner Rejects Workers’ Comp Bureau Rate Increase
Jul 20 2009 // Citing testimony that self-insured employers have been able to reduce overall workers’ compensation costs, California Insurance Commissioner Steve Poizner has rejected the Workers’ Compensation Insurance Rating...
State Farm Lloyds Seeks Homeowners Rate Increase in Texas
Jul 16 2009 // State Farm Lloyds has submitted a rate filing to the Texas Department of Insurance to increase its homeowner’s insurance rates in Texas by a statewide average of 8.5 percent, beginning Oct. 1 for existing customers...
Louisiana Citizens CEO: Expect Another Rate Hike in 2010
Jul 10 2009 // Louisiana’s state-backed property insurance company will probably seek another rate hike for next year, roughly a 10 percent statewide average increase, on top of this year’s 7 percent increase, the...
Florida’s Citizens Insurance Proposes to Hike Some Rates, Decrease Others
Jul 9 2009 // After three years of no increases, Florida’s Citizens Property Insurance Corp. is about to hike premiums up to 10 percent for many of its policyholders, although not for as many as some insurance insiders and...
California Commissioner Rejects Workers’ Comp Bureau Rate Increase
Jul 8 2009 // Citing testimony that self-insured employers have been able to reduce overall workers’ compensation costs, California Insurance Commissioner Steve Poizner has rejected the Workers’ Compensation Insurance Rating...
Some Alabama Pool Rates to Rise July 1
Jun 15 2009 // Rates for some coastal property owners insured through the residual market insurance organization known as the Alabama Beach Pool are going up July 1. The overall average hike will be 5.5 percent, according to the Alabama...
Florida Governor Signs Citizens Insurance 10% Rate Hike Bill Into Law
Jun 15 2009 // Florida Gov. Charlie Crist has signed legislation that will increase property insurance rates by 10 percent annually on more than one million customers of the state-backed Citizens Property Insurance Corp. and gradually...
Analysts: P/C Insurers’ Hopes for Hard Market Undercutting Reserves
Jun 10 2009 // Some property/casualty insurers might be in for a rude awakening with respect to their reserve practices, according to industry experts. The property/casualty insurance sector’s ability to properly estimate its loss...
