Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Hearings, Town Hall Meetings Slated to Discuss Citizens Rate Hikes
Feb 1 2006 // During two public hearings today South Florida homeowners will have a chance to voice their concerns about Citizens Property Insurance Corp.’s rising insurance rates. One hearing began at 10 a.m. Wednesday morning...
N.C. Case to Result in $404M Savings, 2.5 Percent Overall Auto Rate Decrease
Feb 1 2006 // North Carolina Insurance Commissioner Jim Long has signed an order requiring a 2.5 percent reduction in private passenger auto rates and a 6 percent reduction in motorcycle liability rates, effective May...
D&O Liability Premiums Fall for Second Straight Year, Tillinghast Survey Says
Jan 26 2006 // Directors and officers liability insurance average premium index dropped another 9 percent in 2005 after dropping 10 percent in 2004, while half of all public and private companies have received D&O inquiries from...
EPI Study Says Premium Jumps Mean Job Loss for Low-Skilled Employees
Jan 24 2006 // A study released Tuesday by the Employment Policies Institute (EPI) reveals that as the cost of insurance premiums rise, pressure on businesses to keep labor costs in check results in job loss and involuntary part-time...
Ohio Insurance Dept. Announces Malpractice Premiums Going Down
Jan 23 2006 // The Ohio Department of Insurance recently announced that years of escalating premiums for medical malpractice insurance for the state’s doctors may be ending. For the first time in six years, an insurer is lowering...
Global Catastrophe Reinsurance Price Increases Lower Than Expected
Jan 23 2006 // Although the overall market trends in both pricing and terms and conditions will not be fully developed until the July 1, 2006, Florida renewals are complete, and Standard & Poor’s says it is concerned that the...
Analysts predict faster P/C premium growth, underwriting profit
Jan 23 2006 // Each year the Insurance Information Institute invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the year ahead. This year’s survey results indicate...
Garamendi’s proposed auto rate regs will likely cause rate hikes
Jan 23 2006 // Insurers’ estimates say 61 percent of California drivers could pay more. Concern continues to build against California Insurance Commissioner John Garamendi’s plan to impose new regulations for determining auto...
GEICO REDUCING COLO. AUTO RATES
Jan 23 2006 // GEICO began reducing auto insurance rates for new policyholders in Colorado on Jan. 5. The company also said it would be reducing rates for existing policyholders beginning Feb. 20. According to the company,...
LIRC Approves Post-Katrina Rate Hikes
Jan 20 2006 // The first post-Katrina increase in homeowners insurance rates has been approved by the Louisiana Insurance Rating Commission, beginning what is expected to be a line of rate increase requests this year. The commission...
As Rates Rise, Delaware Solicits Changes to Workers’ Comp Classes
Jan 20 2006 // Delaware Insurance Commissioner Matt Denn has asked Delaware businesses to submit requests for classification changes under the workers’ compensation insurance system if they believe that changes would make more...
SCOR’s P/C, Credit and Surety Treaty Renewal Premiums Up 25%
Jan 16 2006 // France’s SCOR Group announced that “premium income linked to Non-Life and Credit & Surety treaties up for renewal on 1 January 2006 is up by around 25 percent.” The bulletin added, “these...
Allstate Announces Rate Hikes Likely in Disaster Prone States
Jan 11 2006 // Allstate Corp. announced this week that customers living in areas hard-hit by hurricanes and other natural disasters, including North Carolina, are likely to see their premiums rise this year as a result of the...
Shift in S. Fla. ‘Line of Demarcation’ Could Reduce Homeowners Rates
Jan 9 2006 // South Florida homeowners with properties located in a strip of land east of I-95 could have their policies reduced if a proposal is implemented to shift the line of demarcation as far east as U.S. Highway 1, or even A1A,...
Analysts Predict Faster P/C Premium Growth, Underwriting Profit in 2006
Jan 5 2006 // Record catastrophe losses will weigh heavily on 2005’s underwriting results, pushing what would have been the industry’s largest underwriting profit ever into a loss situation, according to the Insurance...
Virginia OKs Workers’ Comp Rate Changes, Up and Down
Jan 3 2006 // Virginia officials have approved changes that will increase overall workers’ compensation premium levels in the voluntary market for the industrial and federal (F) classes while decreasing premiums levels for coal...
Two Companies Request Rate Increases in Fla.
Jan 2 2006 // Liberty Mutual and Federated National insurance companies have asked Florida regulators for double-digit rate increases. Liberty Mutual Insurance Co. wants to raise rates by a statewide average of 25 percent, and Federated...
FTCR: Insurers Inflated Med-Mal Claims to Justify Rate Hikes
Dec 30 2005 // In documents filed with state regulators and in statements to public officials, medical malpractice insurance companies consistently inflated the amount they estimated they would pay out in claims, according to a study by...
Best Rates U.K.’s Hiscox, Lloyd’s Syndicate, Bermuda Start-Up
Dec 19 2005 // A.M. Best Co. has announced its credit ratings on U.K. specialist and Lloyd’s insurer Hiscox plc. and its operating entities. It affirmed the financial strength rating (FSR) of “A-” (Excellent) and the...
