Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Hard Market Common Theme for Spring Conventions
Apr 15 2002 // Spring is in the air, and that means conventions, conventions and more conventions for insurance agents and brokers. The first is the upcoming Orange County “I” Day, to be held April 23 at the West Coast...
Joint ‘I’ Day Focuses on Hard Market
Apr 5 2002 // “Submissions are coming in by the truckload. Renewals obviously are something that we’re very concerned about, said Derek Borisoff at this year’s Joint ‘I’ Day in Universal City,...
WCIRB Proceeds With Filing for Mid-Term Rate Increase
Apr 2 2002 // The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has submitted a filing with the California Department of Insurance (CDI) proposing changes to the approved pure premium rates that became...
Iowa Senate Passes Premium Tax Reduction Bill
Apr 1 2002 // The state Senate passed March 27 Senate File 2318, which would cut the premium tax for property/casualty insurers from 2 percent to 1 percent over a four-year period, beginning in 2004. National Association of Independent...
NY, NJ, Conn. Med Mal Premium Costs on the Rise
Mar 27 2002 // Pennsylvania isn’t the only Eastern State to experience precipitate increases in the cost of medical malpractice insurance. A report in the New York Times reveals premium increases of between 10 and 40 percent in...
Amerisure Insurance Sees 25 Percent Increase in Direct Written Premiums
Mar 22 2002 // Michigan-based Amerisure Insurance, a regional property and casualty insurance group, reported strong operating results for the year 2001, with net income of $15.9 million and a surplus increase of $9.6 million. Direct...
Cruise Lines and Theme Parks to See Premiums Increase
Mar 21 2002 // Theme parks, cruise lines, and other tourism-driven business are watching their insurance rates rise due to the fallout of the Sept. 11 attacks, according to the Bloomberg News. Carnival Cruise Lines, a Miami-based...
WCIRB Committee Approves Filing of 10.1 Percent Increase for Advisory Pure Premium Rates
Mar 21 2002 // The Workers’ Compensation Insurance Rating Bureau of California’s (WCIRB) Governing Committee gave the go-ahead March 20 for a filing of a 10.1 increase in advisory pure premium rates to be effective on...
PartnerRe Posts 37% Increase in January Renewal Premiums to $1.37 Billion
Mar 12 2002 // Bermuda’s PartnerRe Ltd. announced that “the Company bound contracts expected to generate $1.37 billion in premiums during its key January 2002 renewal season — an increase of 37%.” The Company the...
NAII Says Territorial Rating Ban Would Increase Premiums for Most Md. Drivers
Mar 7 2002 // In yet another attempt to limit an insurer’s ability to accurately assess risk in Maryland, the House Economic Matters Committee is considering eliminating the use of geographic location as a rating factor in...
Hard DnO Market Tests Relationships of Underwriters, Brokers and Insureds
Feb 28 2002 // The hardening market for Directors and Officers liability coverage is forcing brokers and their clients to accept higher rates, less coverage and larger retentions, panelists told a recent PLUS D&O Symposium. These...
Swiss Re Reports Renewal Rate Increases, Expects 2001 Loss
Feb 26 2002 // Swiss Re reported that its property/casualty and financial services renewals in January 2002 “saw significant improvements in rates as well as terms and conditions across all lines of business.” The company...
HAWAII WORKERS’ COMP RATES INCREASE
Feb 25 2002 // Hawaii Insurance Commissioner Wayne Metcalf announced that the National Council on Compensation Insurance (NCCI) has received approval for a 4.6 percent overall increase in workers’ comp insurance loss costs in...
Commercial Auto Agents: Between a Rock and a Hard Market
Feb 11 2002 // The cyclical ups and downs of the multisegmented arena referred to collectively as commercial auto are nothing new. Though the years referred to as “soft” and “hard” vary in both length and...
Bill Restricting Credit-Based Scores Would Cause ‘Staggering’ Premium Hike
Feb 1 2002 // According to the National Association of Independent Insurers (NAII), pricing restrictions in pending legislation on insurers’ use of credit-based insurance scores would require low-risk consumers to pay...
SAFECO Increases Rates for 2002
Jan 31 2002 // Seattle-based SAFECO Corp. has announced its plans to increase rates for its personal and commercial auto insurance policies in 2002. According to Associated Press, SAFECO president Mike McGavick stated the company’s...
E&S Lines Basking in the Warm Glow of a Hard Market
Jan 28 2002 // Early in 2000, insurance prices started doing something they had not done in almost 15 years. They began to increase, and they kept growing at a modest pace into the third quarter of 2001, when the events of September 11...
Rising Prices Hit Commercial Property Market
Jan 28 2002 // Dire predictions have been floating around since September 11 regarding the availability and pricing of insurance coverage for commercial property, largely due to the issues surrounding terrorist exclusions and whopping...
Port Authority Revenues Stable Despite 300% Rise in Premiums
Jan 25 2002 // The Port Authority of New York and New Jersey reported $2.7 billion in gross operating revenues for 2001, slightly more than last year, despite a 300 percent increase in its insurance premiums from around $4 million to $16...
Report Reinsurance Rate Rise Reduced
Jan 14 2002 // A recent survey by Reuters News Service indicates that the expected strong surge in reinsurance premiums for property catastrophe coverage may be a good deal less than originally anticipated. Although the market remains...
