Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
High Gas Prices Lead GEICO to Drop New York Auto Rate Hike
Aug 7 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...
Ohio Official Predicts Slight Increase in Auto Insurance Rates
Aug 6 2008 // An Ohio official is forecasting slight increases in auto insurance rates through the end of this year and larger increases in homeowners premiums. State Insurance Director Mary Jo Hudson revealed the prediction on August 4...
Louisiana Citizens Rate Increase Delayed
Aug 6 2008 // Louisiana Citizens Property Insurance Corp. policyholders won’t see planned rate increases for at least two months because the agency can’t get a quorum on its board to approve the measure. Premiums had been...
Florida Farm Bureau’s Proposed Rate Hike Meets Disapproval
Aug 5 2008 // Florida Insurance Commissioner Kevin McCarty said the Office of Insurance Regulation issued a notice of intent to disapprove the June 20 rate filing submitted by Florida Farm Bureau Insurance Companies – Farm Bureau...
Premiums, Net Income Decline for Safeco in Q2
Jul 29 2008 // Seattle, Wash.-based Safeco’s net income dropped nearly $37 million in the second-quarter 2008 over the same time period in 2007, the company reported today. For the second-quarter 2008, Safeco posted net income of...
A.M. Best: Med-Mal Leads Captives’ Premium Decline
Jul 28 2008 // Falling medical malpractice premiums led to a 15 percent drop in net premiums written between 2006 and 2007 for a composite of captive insurance companies, but captives overall benefited from favorable underwriting...
Mich. Group Debates State Advocate’s Charge That Auto Rates Too HIgh
Jul 17 2008 // A charge leveled on July 16 by Michigan’s insurance advocate that auto rates are too high fails to mention that the state’s auto insurance benefits are the best in the nation, one insurance trade group...
Munich Re of Africa Reports Premium, Profit Growth
Jul 8 2008 // Munich Reinsurance Co. of Africa – the largest reinsurer in Sub-Saharan Africa – posted positive underwriting results for 2007. MRoA announced a 25.4 percent increase in gross premium income to R3, 2billion,...
Find a Silver Lining in the Soft Market
Jul 7 2008 // Strategies From ‘Best Practices’ Agencies Searching for ways to survive and thrive in the soft market cycle? Cultivate untapped customer markets; proactively service renewals; use technology for efficiency and...
Find a Silver Lining in the Soft Market
Jul 7 2008 // Strategies From ‘Best Practices’ Agencies Searching for ways to survive and thrive in the soft market cycle? Cultivate untapped customer markets; proactively service renewals; use technology for efficient...
Florida Rejects Farm Bureau 30% Property Insurance Rate Hike Again
Jul 2 2008 // Florida Insurance Commissioner Kevin McCarty has officially adopted the ruling of an administrative law judge who rejected a 30.3 percent property insurance rate increase sought by Florida Farm Bureau. “Rulings like...
Fireman’s Fund To Reduce California Homeowners’ Premiums 17.9%
Jul 2 2008 // California Insurance Commissioner Steve Poizner has approved a 17.9 percent reduction in insurance premiums for Fireman’s Fund California homeowners. This reduction will bring a total of $30 million in savings to...
Rates Likely to Rise for Citizens’ South Louisiana Policyholders
Jun 25 2008 // Louisiana’s “insurer of last resort” is seeking double-digit increases in homeowners rates across several southeast parishes. The state-backed Louisiana Citizens Property Insurance Corp. would raise rates...
Building Commercial Construction Business in a Soft Market
Jun 16 2008 // Soft Market Emphasizes Need for Education, Communication It was the best of times, it was the worst of times.” Charles Dickens probably was not referring to the insurance industry’s soft market, when he wrote...
Mercury Provides California Policyholders $61 Million Rate Reduction
Jun 12 2008 // George Joseph, founder and chairman of Mercury General Corp. announced the company has filed for and was approved for a 33 percent rate reduction for homeowners and 10 percent rate reduction for renters insurance...
Olympus Insurance Decreases Homeowners Rates in Florida
Jun 12 2008 // Olympus Insurance Co. of Orlando, Fla., lowered its homeowners insurance rates, most notably in inland counties and for newer homes. The lower rates will have greatest effect on 33 inland counties across Northern and...
Lloyd’s Analyzes Impact on Insurance of World Food Price Hikes
Jun 9 2008 // The rise in world food prices carries implications for both rich and poor countries – the latter will more fully feel the impact, as well as the insurance industry. The recent conference in Rome, organized by the...
Soft Market Tests Program Administrators’ Survival Skills
Jun 2 2008 // It’s Time to Focus Marketing, Upgrade Data, Round Out Business In a recent letter to fellow program administrators, Greg Thompson, CEO of Thompson Insurance Enterprises Inc. and Target Markets Program Administrators...
A Soft Market Solution: MGAs and Risk Sharing
Jun 2 2008 // Part 2: Soft Market Benefits of Risk Sharing Extend Beyond Potential for Increased Profits Editor’s Note: The following is part two of a discussion of the risk retention options available to managing general agents,...
Mississippi Wind Pool Rates Down
Jun 2 2008 // Gulf Coast insurance premiums in Mississippi have returned to nearly pre-Katrina levels, according to officials at the state’s wind insurance pool. According to the Mississippi Windstorm Underwriting Association,...
