Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Risk Managers Report Price Softening; Insurers Battle Surplus Decline
Nov 2 2008 // Property Premiums Fall Sharply; P/C Insurers Post Q3 Losses; Some Sell Stock to Raise Cash for Surplus Woes Risk managers report that commercial policy renewal prices are continuing to drop even as insurers are battling a...
Florida Approves Another Rate Decrease for Workers’ Comp
Oct 30 2008 // Florida Insurance Commissioner Kevin McCarty approved the National Council on Compensation Insurance’s amended rate filing for workers’ compensation insurance rates that will become effective Jan. 1. The rate...
Reinsurers Expect Financial Storm Will Cause Premium Increases
Oct 28 2008 // The world’s reinsurers expect the intensifying financial market storm will allow them to push through higher prices for the risk cover they offer insurance companies. The world’s No. 2 and No. 4 reinsurers,...
Survey: P/C Premiums Decline Again as Industry Enters ‘Uncertain Times’
Oct 27 2008 // Commercial property/casualty premiums continued a downward slide during the third quarter of 2008, but there were suggestions the market decline may have leveled off, at least between July and September, for small and...
California Commissioner Announces 5% Workers’ Comp Rate Increase
Oct 24 2008 // Rejecting the Workers Compensation Insurance Rating Bureau’s (WCIRB) call for a 16 percent increase in the benchmark for determining workers’ compensation costs, California Insurance Commissioner Steve Poizner...
Brown & Brown: Revenues Up Even as Insurance Prices Falling
Oct 21 2008 // Florida-based insurance agency Brown & Brown, Inc. reported that its total commissions and fees revenues for the third quarter of 2008 increased 8.1 percent over the third quarter of 2007. While revenues were up, net...
Premium Growth: Top 25 P/C Premium Gainers Through Q2 2007
Oct 20 2008 // Vita Sackville (1892-1962) was a British novelist and poet. In 1928, she wrote, “Growth is exciting; growth is dynamic and alarming.” Eighty years later, her description of growth is more accurate than ever....
Florida Regulator Orders Further Reduction in Workers’ Comp Rates
Oct 16 2008 // Florida Insurance Commissioner Kevin McCarty disapproved a worker’s compensation rate filing that the National Council on Compensation Insurance submitted on Aug. 27. McCarty ordered NCCI to make an amended filing to...
Soft Market Challenges
Oct 6 2008 // Relationships, Recruiting, Training Key to Survival Soft market conditions could last for another nine months to five years, predict representatives from the agent, broker, carrier, reinsurance, and excess and surplus...
Washington Proposes 3% Increase in Workers’ Comp Rates
Oct 6 2008 // Washington’s Department of Labor & Industries (L&I) has proposed a 3 percent increase in 2009 workers’ compensation rates. Average premiums would go up by under 2 cents per hour worked. “We are...
AIG’s Japan Unit Gets Capital for Stock Price Fall
Oct 2 2008 // A Japanese insurer that is a unit of troubled American International Group Inc. has received 90.7 billion yen (US$872 million) in additional funds to bolster its financial strength, the company said Tuesday. Alico Japan...
Aon Study Concludes Airline Insurance Market ‘Hardening’
Sep 25 2008 // A bulletin from Aon’s London office concludes that the airline insurance market “is hardening for the first time in five years, with a five percent increase in lead hull and liability premium between January...
Too Early to Tell if Kentucky Windstorm will Increase Insurance Rates
Sep 24 2008 // The Kentucky Office of Insurance says it’s too early to tell if the severe winds caused by the remnants of Hurricane Ike will result in insurance rate hikes. The Courier-Journal reported insurers have received tens...
Conning: D&O Market Finds Way to Grow Even In Overall Soft Market
Sep 22 2008 // Over the past decade, the directors and officers liability market has grown faster than the broader property/casualty market, at nearly double the rate of the commercial lines average. Premium growth has come from pricing,...
Washington Proposes 3% Increase in Workers’ Comp Rates
Sep 19 2008 // Washington’s Department of Labor & Industries (L&I) has proposed a 3 percent increase in 2009 workers’ compensation rates. Average premiums would go up by just under 2 cents per hour worked. “We...
Bristol West Decreases Washington Auto Rates 10 Percent
Sep 12 2008 // Davie, Fla.-based Bristol West Insurance Co. announced it is decreasin automobile insurance rates up to 10 percent for current and new customers in Washington. The rate decrease is effective Sept. 16, 2008, and is based on...
North Carolina Insured Drivers to See Rate Decrease of 16.1%
Sep 11 2008 // North Carolina Insurance Commissioner Jim Long signed an order requiring a 16.1 percent reduction in private passenger auto rates and a 11.7 percent reduction in motorcycle liability rates. The decreases will become...
Best’s Reinsurance Report Sees Strong Capitalization in a ‘Soft Market’
Sep 9 2008 // A special report on the reinsurance industry from A.M. Best indicates that “the global reinsurance sector should remain profitable in 2008.” However, Best added that it “believes results will reflect more...
Arizona Insurers Seek 7.9% Workers’ Comp Rate Increase
Sep 2 2008 // Arizona workers compensation carriers have filed for a 7.9 percent rate increase to take effect Oct. 1, 2008, according to the National Council on Compensation Insurance. By industry group, the rate increase would include...
Gas Prices Drive N.Y. Rate Decreases
Sep 1 2008 // One of New York state’s largest auto insurers, GEICO, agreed to drop two requests for rate hikes after a plea by the state’s top regulator to consider the effect of high gas prices on customers’ driving...
