Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Safety Insurance 1Q: Net Income Dips; Written Premiums Rise Slightly
May 8 2007 // Safety Insurance Group, Inc., a Massachusetts-based personal lines insurer, reported first quarter 2007 net income was $24.6 million, or $1.53 per diluted share, compared to $30.8 million, or $1.94 per diluted share, for...
STATE FARM TO REDUCE AUTO RATES 6 % IN ILL.
May 7 2007 // State Farm will reduce auto insurance rates an average of 6 percent in Illinois effective May 14, the company said in a statement this week. Premiums will dip by an average $40 a year statewide, though amounts will vary...
Allstate wins 29% statewide rate hike in Miss.; resumes coastal writings excluding wind coverage
May 7 2007 // Mississippi insurance regulators have approved a statewide rate increase of 29 percent for Allstate homeowner policyholders, the Northbrook, Ill.-based insurer reported. The company, in a written statement, attributed the...
Mass. to Hear FAIR Plan Bid for 13% Statewide, 25% Cape Rate Hike
Apr 26 2007 // Massachusetts Insurance Commissioner Nonnie Burnes has scheduled a public hearing for April 27, to consider a rate increase for the Massachusetts Property Insurance Underwriting Association, also known as the FAIR...
HRH 1st Quarter: Acquisitions Help Drive Revenues as Rates Decline
Apr 25 2007 // Insurance broker and rsk management firm Hilb Rogal & Hobbs Co. reported 2007 first quarter total revenues were $198.2 million, compared with $183.8 million in the 2006 first quarter. Commissions and fees were $192.2...
Premium growth: Should it be measured by company or by group?
Apr 23 2007 // Henry Miller, the author of “The Absolute Collective,” once said that “all growth is a leap in the dark, a spontaneous unpremeditated act without the benefit of experience.” Although he spoke of...
Coastline populations increasing insurance prices
Apr 23 2007 // The U.S. population residing in hurricane-prone states continues to rise, a trend which is likely to impact adversely the nation’s coastal property insurance market for years to come, according to testimony by Dr....
Premium growth: Should it be measured by company or by group?
Apr 23 2007 // Henry Miller, the author of “The Absolute Collective,” once said that “all growth is a leap in the dark, a spontaneous unpremeditated act without the benefit of experience.” Although he spoke of...
Top 25 Property/Casualty Companies in Premium Growth
Apr 23 2007 // 12-months ending Dec. 31, 2006 versus Dec. 31, 2005 (000 Omitted) DPW $ Change DWP DWP DWP $ DWP % Rank Company Name 12/31/2006 12/31/2005 Change Change 1 Lexington Insurance...
New Ohio Law Allows Rate Reduction for 16-Year-Old Drivers
Apr 20 2007 // A recent changes in Ohio’s Graduated Driver License law, will allow a rate reduction for 16-year-old drivers. The reduction will be made available to new policyholders beginning June 1, 2007, according to...
Allstate Wins 29% Rate Hike in Miss.; Resumes Coastal Writings
Apr 20 2007 // Homeowners on Mississippi’s Gulf Coast face another insurance rate hike in Hurricane Katrina’s aftermath. Mississippi insurance regulators this week approved a statewide rate increase of 29 percent for Allstate...
State Farm to Reduce Auto Rates in Ill. by 6 Percent
Apr 20 2007 // State Farm will reduce auto insurance rates an average of 6 percent in Illinois effective May 14, the company said in a statement this week. Premiums will dip by an average $40 a year statewide, though amounts will vary...
Vermont Employers Enjoy Declining Workers’ Compensation Prices
Apr 19 2007 // Workers’ compensation insurance is costing less for most Vermont employers since new rates became effective April 1. The Vermont Department of Banking, Insurance, Securities and Health Care Administration approved...
Miss. Wind Pool Slashes Commercial Rate Hike Using Federal Funds
Apr 12 2007 // A new Mississippi insurance wind pool board on Tuesday approved a 142 percent increase for commercial premiums, a rate that’s significantly lower than it could have been because of $30 million from the federal...
Riding out soft and hard market cycles with quality relationships
Apr 9 2007 // Analyzing the economic rhymes and reasons of soft and hard market cycles in the insurance industry would make for a challenging university-level business course. Theories abound on why and when these cycles occur, but no...
Calif. Workers’ Compensation Insurance Rating Bureau approves 11.3 percent rate decrease
Apr 9 2007 // The Workers’ Compensation Insurance Rating Bureau of California Governing Committee submitted a rate filing to the California Department of Insurance recommending a 11.3 percent decrease in advisory pure premium...
Riding out soft and hard market cycles with quality relationships
Apr 9 2007 // Analyzing the economic rhymes and reasons of soft and hard market cycles in the insurance industry would make for a challenging university-level business course. Theories abound on why and when these cycles occur, but no...
Calif. Workers’ Comp Bureau Approves 11.3 Percent Rate Decrease
Mar 29 2007 // The Workers’ Compensation Insurance Rating Bureau of California Governing Committee has approved the filing of a 11.3 percent decrease in advisory pure premium rates, effective July 1, 2007 on new and renewal...
Allstate Ordered to Reduce Texas Homeowners Rates; Refund $56M
Mar 14 2007 // The Texas Department of Insurance reported that on March 8, 2007, the Travis County District Court affirmed an earlier order by Texas Insurance Commissioner Mike Geeslin requiring Allstate Texas Lloyds to reduce its...
Ill. FAIR Plan Receives Nod for 7.7 Percent Rate Hike
Mar 7 2007 // The Illinois Division of Insurance has granted the Illinois FAIR Plan a rate change for Dwelling Property policies. The overall increase is 7.7 percent, effective March 1, 2007. The last increase in the FAIR Plan rate was...
