Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
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...
Farmers Insurance Requests Rate Hike in Calif.
Jan 10 2002 // Farmers Insurance Group of Cos. recently applied for a 6.9 percent premium increase for homeowners insurance in the state of California. According to the Los Angeles Times Mary Flynn, a spokesperson for Farmers, the...
Commercial Property Owners Face Large Insurance Premium Increases in 2002
Jan 4 2002 // Commercial property owners throughout the nation can expect their insurance premiums to make major leaps this year due to the repercussions of the Sept. 11 attacks rippling through the insurance industry, according to...
WCRA Reducing Reinsurance Rates
Dec 28 2001 // The Workers’ Compensation Reinsurance Association (WCRA) announced it is reducing the reinsurance rates it charges to self-insured Minnesota employers and insurance companies by an average of 12 percent. The rate...
Report DnO Claims, Premiums Increase
Dec 17 2001 // A recent report in Lloyd’s List states that the number and severity of claims against directors and officers has been rising, and concludes that greater surveillance of corporate governance is leading to more legal...
ALLSTATE GETS RATE HIKE IN OKLA.
Dec 17 2001 // Allstate received a 30 percent homeowners insurance rate increase in Oklahoma, the largest premium increase in that state since the 1980s. According to BestWire, Allstate lost money in Oklahoma in five of the last six...
Conn. Approves Workers’ Comp. Rate Hike
Dec 13 2001 // The Connecticut Insurance Department has approved an 11.9 percent average overall rate increase for policies in the workers’ compensation assigned risk plan, and a 15 percent “differential charge” which...
California Drivers to See Some Auto Rate Increases in the New Year
Dec 10 2001 // Auto insurers across the state are making a beeline for Sacramento with their Christmas wish list for rate hikes following several years of rate cuts for California motorists. Those insurers who were chopping rates two or...
Nebraska, Iowa Residents See Rising Rates
Dec 3 2001 // Residents of Nebraska and Iowa are going to have to dig deeper into their wallets as home insurance companies are increasing rates for most Nebraskans and Iowans. According to the Omaha World-Herald, damage from three...
Liberty NJ Auto Rate Increase Approved, Best Downgrades State Farm Indemnity
Nov 21 2001 // The ongoing battle between New Jersey’s automobile insurers and the State’s politicians and regulators recorded two new developments yesterday with the announcement that Liberty Mutual Fire Co. and its...
SCOR Posts Strong 3Q Premium Gains, Up 45%
Nov 19 2001 // SCOR Group, France’s largest reinsurer, posted impressive 45 percent premium income gains for the third quarter to € 3.477 ($3.1 billion). The figures include premiums attributable to the recently acquired SCOR...
Arizona Airport Sees Possible Rate Increases
Nov 13 2001 // Unless the government intercedes, Tucson International Airport could face large increases in liability and property insurance rates because of the Sept. 11 attacks. The Associated Press reported the airport could see its...
Hardening Market Heralds Rush to Alternatives
Nov 12 2001 // During the last hard market, much of corporate America wasted little time in stepping up the search for risk transfer alternatives to traditional commercial insurance. The current hard market appears to be no different if...
CALIF. W/C RATE HIKE APPROVED
Nov 12 2001 // Insurance Commissioner Harry W. Low approved an increase of 10.2 percent in California’s advisory pure premium rate for workers’ compensation insurance. The rate increase was recommended by the Workers’...
Commercial Insurance Market Index Shows Evidence of Hardening Market
Oct 26 2001 // According to the recently released third-quarter Commercial Insurance Market Index — reflecting market observations of the largest commercial insurance brokers across the nation — commercial insurance premium...
WCIRB Notes 19% Rise in Rates for First Half
Oct 16 2001 // On Oct. 8, the Workers’ Compensation Insurance Rating Bureau (WCIRB) released its summary of mid-year California workers’ compensation results, with the report showing that the average charged insurer rates for...
