Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Rate Reductions Approved in Midwest for MiniCo Self-Storage Program
Oct 25 2006 // Mike Schofield, president of Phoenix, Ariz.-based MiniCo Insurance, recently announced that the company has received approval for rate reductions in seven states for self-storage risks eligible for the MiniCo self-storage...
Pricing plays catch-up with evolving homeowners market
Oct 23 2006 // Many single-family homes today look more and more like grand estates than the simple boxy houses with attached garages that were abundant not so long ago. Homes are much larger and more customized compared to 20 or 30...
Survey: Commercial Market Softens, Insurer Appetite Increases
Oct 19 2006 // The commercial property/casualty market continued to soften during the third quarter, with indications that some insurers are finding an appetite for business in which they previously were not interested, according to the...
S.C. Workers’ Comp Said to be in Crisis as Rates Rise Again
Oct 13 2006 // Workers compensation loss costs may increase by 18.4 percent for businesses in South Carolina effective Dec. 1, 2006. Robert Herlong, vice president and regional manager for Property Casualty Insurers of America, said...
Soft Market, Globalization Spurs Need for Well-Educated D&O Underwriter
Oct 6 2006 // “Today it’s a tough time to be a director and officer, and that means it’s a tough time to be a D&O underwriter,” according to Doug Poetzsch, senior vice president, head of specialty claims for...
Citizens Seeks Rate Reductions Linked to Sinkhole Exclusion
Oct 3 2006 // Citizens Property Insurance Corporation has filed a proposal that could reduce rates up to 43 percent for policyholders in the most sinkhole prone counties who opt out of buying coverage for sinkhole related claims next...
Citizens’ Rates for Fla. Keys Homes Going Down, Mobile Homes Up
Oct 2 2006 // Florida Insurance Commissioner Kevin McCarty and Citizens Property Insurance Corp. have agreed on property insurance rate changes – including an average 35 percent decrease for homes and a 15.2 percent increase for...
Mass. Auto Rates Would Fall from 8% to 18% Under Latest Proposals
Sep 28 2006 // The two parties representing consumers have recommended that Massachusetts auto insurance rates be slashed next year — as much as 18 percent. The State Rating Bureau, a unit of the Division of Insurance, is calling...
Hawaii, Washington, Wyoming bringing down workers’ comp rates
Sep 25 2006 // Hawaii, Washington and Wyoming proposed lowering workers’ compensation rates in their states from 2 percent to 12.3 percent. The Hawaii Department of Commerce and Consumer Affairs’ Insurance Division announced...
Risk retention group 2005 premium grows 11.5% to $2.4 billion
Sep 25 2006 // Despite the softening property/casualty market, commercial insureds who find liability insurance unavailable or unaffordable, as well as those who desire stability and control of their liability programs, continue to...
10 Mass. AG opposes FAIR Plan rate hike
Sep 25 2006 // Reilly goes to court to block 12.4% rate hike 10 Carbon neutral agent in Virginia Rutherfoord of Roanoke goes green 10 Command performance in N.Y. Insurance mobile unit named best practice 12 Conn. caught up in coastal...
Mass. AG Reilly opposes FAIR Plan rate hike
Sep 25 2006 // Massachusetts Attorney General Tom Reilly has decided to appeal Insurance Commissioner Julianne Bowler’s order allowing the state’s insurer of last resort — the FAIR Plan — to raise home insurance...
Risk retention group 2005 premium grows 11.5% to $2.4 billion
Sep 25 2006 // Despite the softening property/casualty market, commercial insureds who find liability insurance unavailable or unaffordable, as well as those who desire stability and control of their liability programs, continue to...
Surplus Lines Premium Volume Shows Little Growth
Sep 19 2006 // Direct premium volume for the surplus lines insurance market remained relatively flat in 2005 as it did in 2004, after growing significantly during the three prior calendar years. The significant growth had been a...
FBI: Overall N.Y. Crime Rate Continues Decline; Car Thefts Down 13%
Sep 18 2006 // Overall crime rates continued to decline in New York during 2005 as vehicle thefts dropped almost 13 percent and robberies edged up from 2004, according to a Federal Bureau of Investigation report. The rate of violent...
Calif. Workers’ Comp Rating Bureau Proposes Rate Decrease
Sep 15 2006 // California’s Workers’ Compensation Insurance Rating Board has proposed a 6.3 percent reduction in the pure premium rate. On August 16, 2006, the WCIRB submitted its Jan. 1, 2007 pure premium rate filing to the...
Two Calif. Insurers File For Rate Reductions
Sep 15 2006 // Two insurers have filed for rate decreases in California. According to the California Department of Insurance, 21st Century, the state’s fifth largest auto insurer, with more than 740,000 policy holders, is seeking a...
Businesses Help Bring Down Hawaii Workers’ Comp Insurance Rates
Sep 12 2006 // The Hawaii Department of Commerce and Consumer Affairs’ Insurance Division announced that the National Council on Compensation Insurance (NCCI) has filed a request for a decrease of 12.3 percent in the workers’...
Hiscox 1H Premiums Up; Profits Down; Plans Bermuda Move
Sep 12 2006 // U.K.-based specialty and Lloyd’s insurer Hiscox plc posted a mixed first half performance. According to its recently published statement gross premiums written rose 43 percent to £625.1 million ($1.167 billion)...
Mass. AG Reilly Opposes FAIR Plan’s 12% Rate Hike
Sep 10 2006 // Massachusetts Attorney General Tom Reilly has decided to appeal Insurance Commissioner Julianne Bowler’s order allowing the state’s insurer of last resort — the FAIR Plan — to raise home insurance premiums...
