Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Washington Workers’ Comp Insurance Premiums Increasing 3%
Jan 11 2009 // Washington’s Department of Labor and Industries (L&I) said premiums for workers’ compensation insurance will go up, on average, 3 percent in 2009. Individual employers could see their rates go up or down,...
California Workers’ Compensation Insurers File for Rate Increases
Jan 11 2009 // The California Department of Insurance has approved rate increases for several workers’ compensation insurers. California Insurance Commissioner Steve Poizner had recommended a 5 percent increase in his rate...
Florida Panel Backs Rate Hikes, Stricter Rules for Citizens
Jan 9 2009 // A special task force is recommending that Florida’s state-backed property insurer – Citizens Property Insurance — be permitted to raise its rates beginning in 2010 and that restrictions on what homeowners...
New Jersey Workers’ Comp Rates Drop, Benefits Rise
Jan 5 2009 // New Jersey’s workers’ compensation insurance premiums will drop by roughly 1 percent in 2009, saving the state’s employers an estimated $33 million. “There are a number of factors that affect...
Rates Fall for Mine Subsidence Insurance in Pennsylvania
Dec 31 2008 // Staring tomorrow, homeowners and commercial building owners in Pennsylvania can take advantage of substantially lower rates for mine subsidence insurance, making it more affordable to protect against catastrophic damage...
Workers’ Comp Assigned Risk Rate to Rise in Minnesota
Dec 31 2008 // Minnesota’s Commerce Commissioner has issued a rate order approving a 2.6 percent increase in the overall level of the assigned risk rates for workers’ compensation insurance. The increase is effective April 1,...
North Carolina Auto Insurance Rate Hike In Escrow Until Court Rules
Dec 29 2008 // Auto insurers may increase premiums on North Carolina drivers by up to 9.4 percent starting Jan. 1, but a court ruling will determine whether they can keep the extra money. The North Carolina Rate Bureau, which represents...
Mississippi Approves Alfa Auto Insurance Rate Decrease
Dec 18 2008 // Mississippi Insurance Commissioner Mike Chaney says Alfa Insurance customers are about to pay less for their automobile coverage. Chaney has approved Alfa’s plan to decrease auto rates by as much as 2.1 percent,...
North Carolina Agrees to 4% Home Insurance Rate Hike
Dec 18 2008 // North Carolina Insurance Commissioner Jim Long today signed a settlement agreement with homeowners insurance companies allowing an overall statewide average increase of 4.05 percent in rates beginning May 1. This is below...
Willis Sees Hardening in Airline Insurance Market
Dec 17 2008 // Willis Group Holdings has said that it “expects aviation insurance prices to rise and the insurance market to harden further through the end of 2008 and into 2009,” according to the latest report issued by the...
Florida Hears 18.6% Workers Comp Rate Hike Bid Today
Dec 16 2008 // The Florida Office of Insurance Regulation has scheduled a hearing today to consider a proposed 18.6 percent workers compensation rate increase. The proposal made by the National Council on Compensation Insurance (NCCI) on...
California Workers’ Compensation Premiums Down in 2008
Dec 16 2008 // The Workers’ Compensation Insurance Rating Bureau of California has completed its report summarizing insurer loss and premium experience through Sept. 30, 2008. WCIRB said: “California written premium (gross of...
State Farm Loses Second Bid for 47% Rate Hike in Florida
Dec 15 2008 // An administrative law judge in Florida on Friday rejected a 47.1 percent average rate increase sought by State Farm Florida, the state’s largest privately owned property insurer. The Florida-only affiliate of...
Vermont Workers’ Comp Rates Likely to Go Down
Dec 8 2008 // Officials say Vermont businesses should be paying less for workers’ compensation insurance. The National Council on Compensation Insurance is recommending a 13 percent drop in rates in Vermont. If state regulators...
North Carolina Insurers Seeks 19.5% Statewide Home Insurance Rate Hike
Dec 5 2008 // North Carolina homeowners insurers are seeking an average 19.5 percent statewide rate hike which, if approved, would be the first rate hike since 2006. The proposal, being finalized this week by the North Carolina Rate...
Washington Workers’ Comp Insurance Premiums Increasing 3%
Dec 4 2008 // Washington’s Department of Labor and Industries (L&I) said premiums for workers’ compensation insurance will go up, on average, 3 percent in 2009. Individual employers could see their rates go up or down,...
Financial and Housing Crises, Soft Market to Challenge Insurers in 2009
Dec 4 2008 // The financial and housing crises, along with a prolonged soft market, are converging to create a highly challenging environment for the U.S. insurance industry in 2009, says an industry think tank. These factors will force...
Even Best Practices Agencies Struggle To Grow in Soft Market
Nov 30 2008 // Revenue Growth Proves Challenge; Hiring New Producers Remains Priority The Independent Insurance Agents and Brokers of America (the Big “I”) recently released its annual Best Practices Study. The independent...
Florida Workers’ Compensation Insurers Seek 8.9% Rate Hike Due to Court Ruling
Nov 30 2008 // A Florida Supreme Court ruling has resulted in a request to raise workers compensation rates by 8.9 percent. The National Council on Compensation Insurance filed the request, citing last month’s ruling in which...
TWIA Rates to Rise
Nov 30 2008 // Commercial and residential rates for policies written through the Texas Windstorm Insurance Association (TWIA) will rise in February when rate increases approved by the Texas Department of Insurance (TDI) go into...
