Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Calif. Commissioner Approves 7.2 Percent Rate Increase on Pure Premium Rates
Jun 9 2003 // California Insurance Commissioner John Garamendi issued a decision June 6 on the Workers’ Compensation Insurance Rating Bureau’s (WCIRB) July 1, 2003 pure premium rate filing that was submitted on April 2,...
Aon CEO Says Rates Will Grow Slowly Until Early 2004
Jun 4 2003 // Aon CEO Patrick Ryan told a group of journalists that premiums will grow slowly through the end of 2003 and into early 2004, according to Reuters. Ryan predicted rates would rise over the next five to seven years. Certain...
N.Y. Healthcare Alliance Warns of Cuts as Med Mal Premiums Rise
Jun 4 2003 // The New York Healthcare Alliance (NYHA), a coalition of healthcare providers and workers from approximately 75 hospitals throughout the state, has issued a warning that, as a result of a recent court ruling, “New...
Conning Research Says P/C Outlook Not as Bright as Rising Premium Rates Suggest
Jun 3 2003 // Despite substantial rate increases over the past three years, Property/Casualty insurers will not see any dramatic improvement in their financial results by 2004, according to Conning Research & Consulting,...
State Farm Homeowner Rates Increase in Nev.
Jun 2 2003 // State Insurance Commissioner Alice A. Molasky-Arman has approved State Farm Fire and Casualty Company’s request for an overall statewide average increase of 5.2 percent, or $2.5 million. This is part of a total...
Weiss Study Says Med-Mal Caps Fail to Prevent Premium Increases
Jun 2 2003 // Caps on non-economic damages have failed to prevent sharp increases in medical malpractice insurance premiums, even though insurers enjoyed a slowdown in their payouts, according to a white paper released by Weiss Ratings,...
NH Commissioner Sees Softening Market Conditions
May 27 2003 // New Hampshire Insurance Department Commissioner Paula Rogers, the keynote speaker at the Professional Insurance Agents of New Hampshire Inc.’s annual conference held at the Marriott Courtyard and Grappone Conference...
Price, Increased Self-Insured Retentions and Coverage, Top Challenges Facing Public Risk Managers
May 22 2003 //
Berkshire Hathaway Profit Up Thanks to Hardened Market
May 13 2003 // Omaha, Neb.-based Berkshire Hathaway Inc. nearly doubled the profit of the first quarter of 2002, thanks to the hardened insurance market. Berkshire reported a net profit of $1.73 billion, or $1,127 a share, compared to...
RIMS Report: Property Market Softens, Will Casualty Follow’
May 5 2003 // A report released at the recent Risk & Insurance Management Society (RIMS) conference in Chicago found that after only two years of double-digit percentage premium increases, the property market has already begun to...
STATE FARM RATE INCREASES IN LA.
May 5 2003 // State Farm recently won a 12.2 percent average rate increase for homeowners policies in Louisiana that goes into effect June 15. At that time around 263,000 Louisiana homeowners will face an average increase of $100....
Study Says D&O Liability Premiums Soar, Shareholder Claims Increase
May 5 2003 // On the heels of similar increases from the previous year, purchasers of Directors & Officers (D&O) liability insurance paid nearly 30 percent more for their D&O coverage, according to Tillinghast Towers...
Tillinghast Study Says D&O Liability Premiums Skyrocket as Shareholder Claims Increase
Apr 28 2003 // On the heels of similar increases from the previous year, purchasers of Directors & Officers (D&O) liability insurance paid nearly 30 percent more for their D&O coverage, according to Tillinghast Towers...
Senate Bills Reportedly Increasing Choice, Lowering Premiums in La. Passes Committee
Apr 25 2003 // A Senate panel this week approved two major bills that would reportedly change the way insurance rates are regulated in Louisiana, bringing more companies and competition into the state. The measures, Senate Bill 721 and...
State Farm Gets Rate Increases in Louisiana
Apr 21 2003 // Beginning June 15, State Farm homeowner policyholders in Louisiana will face a 12.2 percent rate increase averaging about $100 more per year. According to the New Orleans Times Picayune, the Louisiana Insurance Rating...
Net Premiums for Progressive Up 32% From Year Earlier
Apr 17 2003 // Leading auto insurer Progressive Corp. reported first quarter 2003 net income of $291.5 million, or $1.32 per share, compared to $176.2 million, or 78 cents per share in the first quarter last year. Net premiums written...
A.M. Best Reports: P/C Premium Growth Solid
Apr 16 2003 // The property/casualty industry continued to report strong growth in net written premiums for both the fourth quarter and full-year 2002 amid robust price increases across all sectors, according to the A.M. Best...
U.S. Property Insurance Premiums Beginning to Fall, AON Report Finds
Apr 8 2003 // Rates for U.S. property insurance have begun to drop as insurers compromise to meet their target levels of premium growth. This was one of the main findings from a report published by Aon at this year’s RIMS (Risk...
Hard Market Hits California Homeowners
Apr 7 2003 // Credit scoring, CLUE reports become targets of Commissioner Garamendi’s Ire The hard market has hit California homeowners hard. State Farm, which had nearly 23 percent market share in the state in 2001 according to...
WCIRB to Propose 10.6% Increase in Pure Premium Rates
Mar 27 2003 // California’s Workers’ Compensation Insurance Rating Bureau (WCIRB) Governing Committee approved the filing of a 10.6 percent increase in advisory pure premium rates March 26. The rates are to be effective on...
