Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Traffic Deaths Fell But Fatality Rate Spiked During Coronavirus Lockdowns
Oct 2 2020 // U.S. traffic deaths fell during the coronavirus lockdowns but drivers engaged in riskier behavior as the fatality rate spiked to its highest level in 15 years, according to preliminary data released Thursday. The National...
White Mountains to Buy 72% Stake in Lloyd’s Insurer Ark for Growth in Hardening Market
Oct 1 2020 // White Mountains Insurance Group, Ltd. announced it has entered into a definitive agreement to invest fresh capital in and to acquire a majority interest in Ark Insurance Holdings Ltd., the parent company of Ark Syndicate...
Worker’s Compensation Rates to Decrease in Idaho for 2021
Sep 29 2020 // A proposal for a 1.7% overall rate decrease to Idaho workers’ compensation insurance, effective Jan. 1, 2021, has been approved by the Idaho Department of Insurance. The proposed rate change is recommended by the...
Texas Auto Insurance Plan Association Requests 4.8% Commercial Rate Hike
Sep 23 2020 // The Texas Automobile Insurance Plan Association (TAIPA) has filed a request with the Texas Department of Insurance to charge new insurance rates for commercial automobiles. The filed rates represent a 4.8% increase in...
Social Inflation, Low Interest Rates, Rising Catastrophes: Recipe for a Hard Market
Sep 21 2020 // Even before the coronavirus crisis hit, the reinsurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price...
What to Expect in 2021: Reinsurance Market Moving From ‘Timid’ to ‘Hard’
Sep 18 2020 // Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a...
Casualty Reinsurance Demand Rises in N. America Despite Hardening Primary Rates
Sep 16 2020 // Although there is a significant market correction taking place in the North American liability insurance market, demand for casualty reinsurance is increasing, said Chirag Shah, executive vice president, Casualty...
Fitch’s Reinsurance Outlook Remains Negative, Despite Entry into Hard Market Phase
Sep 11 2020 // Fitch Ratings said yesterday its ratings outlook for companies in the global reinsurance sector will continue to remain negative as a result of hefty coronavirus claims and low interest rates. The good news for companies,...
Social Inflation, Low Interest Rates, Rising Catastrophes: Recipe for a Hard Market
Sep 9 2020 // Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price...
Cyber Attacks Are Seen Pushing Up Risk Premiums for Stocks
Sep 4 2020 // U.S. equity investors are demanding higher risk premiums to compensate for rising cyber threats as the coronavirus pandemic pushes more businesses to move online. That’s according to researchers at Michigan State...
Florida Workers’ Comp Rates Going Down, Again
Sep 4 2020 // The downward trend for Florida workers’ compensation rates is set to continue next year thanks to favorable loss experiences from policy years 2017 and 2018. The latest filing from the National Council on...
Report: Workers’ Comp Written Premium in California for First Quarter to be Down 5%
Sep 2 2020 // The Workers’ Compensation Insurance Rating Bureau of California has released its quarterly experience report, an update on California statewide insurer experience valued as of March 31, 2020. Highlights of the report...
China Reinsurance Group’s Premiums Rise 20% in First Half
Sep 1 2020 // In the first half of 2020, China Re Group Corp. enjoyed rapid growth in premiums and steady profitability despite the pandemic. In the first half of 2020, gross written premiums increased 20.5% year-on-year to RMB102.1...
Commercial Insurance Prices Up 19% in Q2: Marsh Index
Aug 24 2020 // Global average commercial insurance prices increased 19% in the second quarter of 2020, the eleventh straight quarter they have risen. Average price increases were driven principally by increases in property insurance...
Commissioner Notes New Auto Insurance Rate Reductions in Louisiana
Aug 18 2020 // Louisiana’s insurance commissioner has approved new rate decreases for private passenger auto policies for two major auto insurers in the state. Insurance Commissioner Jim Donelon has approved Progressive Insurance...
P/C Insurance Software Firm Duck Creek Hikes IPO Price Range
Aug 13 2020 // Duck Creek Technologies Inc., a software company that serves the property and casualty insurance market, on Wednesday raised the price range for its initial public offering (IPO) and expects to raise about $375...
Global Commercial Insurance Rates Up 19% on COVID-19, Other Large Losses: Marsh
Aug 10 2020 // Global average commercial insurance prices increased 19% in the second quarter of 2020, according to the latest Global Insurance Market Index released by broker and risk adviser Marsh. The increase, the largest since the...
Workers Compensation Rates Could Start Rising in 2021, Says W.R. Berkley CEO
Jul 28 2020 // For W.R. Berkley Corp. and most other workers’ compensation carriers, rates have declined for some time. That trend could start reversing itself starting in 2021, CEO W. Robert Berkley Jr. predicted...
Committee Recommends No Rate Hike for Texas Windstorm Insurer
Jul 23 2020 // The Actuarial and Underwriting Committee of Texas’ insurer of last resort for wind and hail coverage for properties in the state’s coastal counties voted on July 21 to recommend a 0% rate increase to its board...
State Farm to Further Decrease Auto Insurance Rates in Louisiana
Jul 6 2020 // State Farm Insurance Co. has been approved for an overall auto insurance rate decrease of 9.6% in Louisiana, the state insurance department reported. State Farm’s rate reduction most recently approved by Louisiana...
