Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
RIMS: Commercial Rates Going Down; Benfield: Reinsurance Rates Holding
Feb 23 2004 // As Abbott and Costello famously observed, “Who’s on First?” A new report from independent insurance intermediary Benfield concludes that despite “ample capacity and signs of resurgent competition,...
Mo. Comp Rate Hikes Almost Flat
Feb 17 2004 // Insurers are applying the brakes to workers’ compensation rate increases in Missouri, according to the state’s insurance department. After almost one-third of such insurers filed rate changes in January,...
Swiss Re Reports 7% P/C Renewal Premium Growth
Feb 17 2004 // Swiss Re announced that it has registered a seven percent increase in P/C premium growth following the latest round of renewals, occasioned by a “combination of further rate increases and portfolio...
Mich. Auto Rates Rise Slower Than National Average
Feb 12 2004 // Auto insurance rates for Michigan policyholders rose slower than the national average in 2003, according to the Insurance Institute of Michigan (IIM). Michigan’s auto insurance rates increased an average of 7 percent...
First Premium Insurance Group Expands
Feb 10 2004 // First Premium Insurance Group Inc. of Covington, La., a growing regional property and casualty insurance broker, announced its newest team members, Steven J. Weisgerber and Elizabeth W. Jenkins. Weisgerber joined First...
RIMS: Commercial Rates Going Down; Benfield: Reinsurance Rates Holding
Feb 9 2004 // As Abbott and Costello famously observed, “Who’s on First?” A new report from independent insurance intermediary Benfield concludes that despite “ample capacity and signs of resurgent competition,...
RIMS: Commercial Rates Going Down; Benfield: Reinsurance Rates Holding
Feb 9 2004 // As Abbott and Costello famously observed, “Who’s on First?” A new report from independent insurance intermediary Benfield concludes that despite “ample capacity and signs of resurgent competition,...
Physicians Insurance Looks to Rate Reduction with Cap for Non-Economic Damages
Feb 5 2004 // Physicians Insurance A Mutual Company (PI), Washington’s largest professional liability insurer, announced in a letter to Washington state legislators that it will reduce its premiums by at least 10 percent effective...
D&O Liability Premiums Jump 33 Percent; Tillinghast Study Reports Hard Market is Stabilizing Despite Record Premiums
Jan 27 2004 // Directors and officers (D&O) liability insurance premiums grew approximately 33 percent on average from 2002 to 2003, according to the Tillinghast business of Towers Perrin’s 2003 Directors & Officers...
Earlybird Forecast for 2004: Street Sees Premium Growth in Store
Jan 26 2004 // 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 current and coming year. The survey reveals that the...
E&S Foresight and Good Management Ease Hard Market Pains
Jan 26 2004 // As you have no doubt heard by now, this hard market is not just longer; it is fundamentally different. It is by all reports the most moderate in memory, characterized by fewer and less dramatic disruptions of normal market...
Texas FAIR Plan Wants Rate Increase
Jan 23 2004 // The Texas Fair Access to Insurance Requirements (FAIR) Plan Association requested that the Texas Department of Insurance allow the Plan to increase homeowners insurance rates by an average of 12 percent statewide in order...
Commercial Insurance Buyers Say Property Premiums Fell Nearly Nine Percent in Fourth Quarter
Jan 22 2004 // Commercial insurance buyers say the cost of property insurance fell 8.8 percent in the fourth quarter of 2003 marking the first decline in premium prices in any major line of commercial insurance in nearly four years,...
CALIF. FUND SEEKS RATE DECREASE
Jan 12 2004 // State Compensation Insurance Fund—California’s largest workers’ compensation insurance carrier—has filed for an average 2.9 percent rate decrease effective Jan. 1, 2004. The decrease is within the range...
CALIF. SEES REDUCTIONS IN WC RATE FILINGS
Jan 12 2004 // Insurance Commissioner John Garamendi announced that workers’ compensation pure premium rates filed by insurers to date are below current rates by an average 3.6 percent, a “clear sign” that the historic...
COURT OF APPEALS LARGELY UPHOLDS N.C. COMMISSIONER’S ORDER TO REDUCE AUTO RATES:
Jan 12 2004 // North Carolina Insurance Commissioner Jim Long recently received word that the North Carolina Court of Appeals has largely upheld his order in the 2001 auto insurance rate case to force insurance companies to drop rates by...
Wash. L&I Adopts 9.8 Percent Rate Increase for 2004
Jan 12 2004 // The Washington Department of Labor and Industries announced a 9.8 percent general rate increase in workers’ compensation premiums, effective Jan. 1, 2004. Even with this rate increase, next year’s average rates...
Mass. AG Appeals Auto Rate Increase Decision
Jan 6 2004 // Massachusetts’ Attorney General Tom Reilly is appealing the Division of Insurance’s December 15 ruling, arguing that a 2.5 percent increase in the cost of auto insurance is unwarranted and will result in close...
NIPR Notes Price Reductions for 2004
Jan 2 2004 // The Board of Directors of the National Insurance Producer Registry (NIPR) announced a 10 percent reduction in prices on all NIPR products effective Jan. 1, 2004, bringing unexpected savings to insurers, producers and...
California Housing Market Sets Record, But Rising Prices Pose Challenges for First-time Buyers
Dec 23 2003 // The California housing market is poised to finish 2003 by setting new records across the board for the second consecutive year, according to a report, “State of the Housing Market 2003,” from the California...
