Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
State Farm’s 9.1% rate hike in Texas rejected
Oct 27 2007 // Two administrative law judges in Texas on Oct. 5 rejected State Farm’s plan to increase homeowner insurance rates, calling the hike too excessive. State Farm Lloyds Inc. had appealed to the State Office of...
Premium Growth: Top 25 P/C premium gainers for first-half 2007
Oct 27 2007 // According to Gail Sheehy, growth demands a temporary surrender of security. Although it is unlikely she was speaking of property and casualty insurance industry marketshare when she made this comment, it seems to me that...
Fla. Workers’ Comp Rate Decrease not Enough for Commissioner
Oct 24 2007 // Florida Insurance Commissioner Kevin McCarty disapproved the National Council on Compensation Insurance’s latest rate filing for workers’ compensation insurance rates, due to become effective next year. McCarty...
Homeowners Insurers Not Earning Cost of Capital Despite Rate Increases
Oct 24 2007 // The countrywide prospective return on equity for the homeowners line of insurance for 2007 is 7.0 percent, up from 5.4 percent in 2006, according to an analysis by Aon Re Global, a unit of Aon Corp. The year-over-year...
Insure Montana May Cut Benefits to Reduce Premium Increase
Oct 24 2007 // The board that oversees a subsidized health-insurance plan for nearly 800 small businesses in Montana indicated it will try to hold down premium increases by cutting plan benefits. Jim Edwards, a member of the Insure...
Calif. Workers’ Comp Bureau Recommends Increasing Rates 5.2%
Oct 22 2007 // California’s Workers’ Comensation Insurance Rating Bureau has recommended that pure premium rates be increased to 5.2 percent, instead of the 4.2 percent recommended earlier in September. In September, WCIRB...
Insure Montana Premiums Could Go Up 32%
Oct 22 2007 // Small businesses with state-subsidized health insurance through the Insure Montana program face double-digit race increases next year, officials said. Blue Cross Blue Shield of Montana, the company that sells and...
Wyoming Occupational Injury Rates Decline
Oct 19 2007 // The rate of nonfatal occupational injury and illnesses in Wyoming is on the decline, according to a Survey of Occupational INjuries and Illnesses conducted by the Wyoming Department of Employment, Research and Planning,...
Texas District Judge Allows Allstate Texas Lloyd’s Rate Increase
Oct 17 2007 // On Oct. 15, Travis County District Judge Margaret Cooper ruled in favor of Allstate Texas Lloyd’s in the company’s quest to preserve an already-implemented homeowners rate increase. Cooper granted the...
Florida Subpoenas Allstate Over Home Insurance Rate Increases, Industry Ties
Oct 16 2007 // Florida officials have subpoenaed Allstate Insurance and its subsidiaries to get the insurer to explain why it is not lowering homeowners insurance rates in the state and to defend its dealings with the industry’s...
Fla. Insurance Regulators Deny USAA Rate Hike, Cancel Hearing
Oct 9 2007 // The Florida Office of Insurance Regulation disapproved a rate increase filing submitted by United Services Automobile Association, USAA Casualty Insurance Co. and USAA General Indemnity Co. As a result of the disapproval,...
Conn. AG Alleges Reinsurance Antitrust Conspiracy Drives Up Consumer Prices
Oct 9 2007 // A lawsuit against a major reinsurance broker for alleged antitrust activity in Connecticut is being used to raise broader questions about the largely unregulated reinsurance business. Connecticut Attorney General Richard...
COMP INSURERS APPEAL S.C. RATE HIKE REJECTION
Oct 8 2007 // The South Carolina Department of Insurance recently disapproved a request made by the National Council on Compensation Insurance to increase loss costs statewide by 23.7 percent. NCCI State Relations Executive, Amy Quinn,...
Niche writing and the soft market
Oct 8 2007 // Program diversification helps to lighten the effects during increased competition As the property casualty market softens, insurance carriers will strive to figure out new ways to maintain recent levels of profitability....
Comp insurers appeal S.C. rate hike rejection
Oct 8 2007 // The South Carolina Department of Insurance recently disapproved a request made by the National Council on Compensation Insurance to increase loss costs statewide by 23.7 percent. NCCI State Relations Executive, Amy Quinn,...
Oregon to decrease workers’ comp rates 2.3%
Oct 8 2007 // Oregon’s Department of Consumer and Business Services has announced it is decreasing the workers’ compensation pure premium rate in 2008 by 2.3 percent. Meanwhile, the workers’ comp premium assessment,...
Niche writing and the soft market
Oct 8 2007 // The wise program manager takes yet another step forward and commits their organization to multiple niches. As the property casualty market softens, insurance carriers will strive to figure out new ways to maintain recent...
Nationwide Decreases Calif. Homeowners Rates
Oct 2 2007 // Columbus, Ohio-based Nationwide Insurance Company of America announced it is cutting homeowners insurance rates in California an average of 9.4 percent. The decrease takes effect today, Oct. 2, 2007. Nationwide is also...
Soft Market Isn’t Hard for Surplus Lines Industry, A.M. Best Reports
Sep 28 2007 // After a flat year in 2005, U.S. surplus lines premium volume rebounded in 2006 and carriers again posted strong underwriting results. In 2006, surplus lines carriers generally stuck to their guns on pricing in lines where...
Wash. wants comp rate increase
Sep 24 2007 // Washington’s Department of Labor and Industries has proposed raising workers’ compensation rates 3.2 percent in 2008, with the average premium increasing by just more than 2 cents per hour worked. L&I...
