Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
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...
Ohio Workers’ Comp Board OKs Safety Rules, Rate Decrease
Jun 2 2009 // The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors has approved rule changes associated with the safety standards in the Ohio Administrative Code for several industries. Ohio law allows BWC to adopt...
Florida Reinsurance Rate Hike of 15% Tracks with Global Rates
Jun 1 2009 // Florida property/catastrophe reinsurance rates increased by 15 percent at the June 1, 2009, renewal, compared to a decline of 15 percent a year ago, according to reinsurance specialist Guy Carpenter & Co. In a new...
Premium Growth: Top 25 Premium Gainers in 2008 Versus 2007
Jun 1 2009 // What is the impetus for growth? Why do some insurers emphasize growth and others do not? In his Sept. 25, 1961, address to the United Nations, President John F. Kennedy described conformity as “the enemy of...
California Workers’ Comp Insurer Files for 15% Premium Increase
May 29 2009 // California’s State Compensation Insurance Fund has filed a mid-year rate plan that reflects a 15 percent increase in collectible premium. The revised rates will apply to new and renewal workers’ compensation...
Some Alabama Beach Pool Insurance Rates Going Up July 1
May 29 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 Gov. Crist Signs Citizens Insurance Rate Hike Bill Into Law
May 28 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...
Marsh Survey Concludes UK Insurance Rates ‘Continue to Fall’
May 28 2009 // According to findings from Marsh, “Insurance rates in the UK continued to fall, but at a slower rate, across all major lines of business in the first quarter of 2009.” The figures are based on business placed...
Medicus Insurance Decreases Rates 6.7% In Nevada
May 26 2009 // The Nevada Division of Insurance has approved an overall rate decrease of 6.7 percent for physicians and medical professionals insured by Medicus Insurance Co. “Our claims experience in Nevada has been...
Coastal Insurance Rates Could Rise if Federal Tax Law is Enacted
May 21 2009 // As it girds for hurricane season, Texas has plenty to worry about. The Texas Windstorm Insurance Association (TWIA) – which provides coverage for high risk coastal properties – has ended up at the brink of...
Florida Agents, Consumer Advocate Agree: Insurance Rates Must Go Up
May 14 2009 // With the start of the hurricane season just a few weeks away, a leading Florida consumer advocate joined independent agents at a press conference today to warn that property insurance rates need to be raised if insurers...
6 Steps For Agents to Take Before Soft Market Hardens
May 11 2009 // Most insurance professionals detest a soft market due to the increase in competition, unreasonably low pricing and increased market vulnerability. Some, however, may appreciate a softening precisely because of the change...
Specialty Underwriters’ Alliance Reports 20% Premium Growth for Q1
May 11 2009 // Chicago-based Specialty Underwriters’ Alliance Inc. reported that although net income was down in the first quarter of 2009 compared to the same period a year ago, gross written premiums rose to $29 million compared...
Aon Survey Finds Slowdown in Q2 UK Premium Increases
May 8 2009 // UK companies renewing insurance in the second quarter “could be paying equal or even less premium with just 50 percent of underwriters predicting an increase in property rates,” according to Aon’s Market...
