Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Sign of the Times – Brokers vs. Carriers on a Classic Soft Market
Jul 24 2017 // Brokers vs. Carriers on a Classic Soft Market Chief executive officers of property/casualty insurance brokers and P/C insurance carriers called each other out in June for engaging in activities they said were...
How to Succeed in a Soft Insurance Market
Jul 24 2017 // It’s no secret that the insurance marketplace right now is extremely soft. The amount of capacity in the industry continues to rise as new entrants are coming into the market or existing carriers are either opening...
Crystal & Company Names Price a Director, Specialty Products Group
Jul 18 2017 // Sarah Price has been named a director in Houston-based Crystal & Company’s Specialty Products Group. She specializes in placing complex environmental insurance programs. Price has 18 years of experience in...
State of P/C Insurance Industry, Part 1: The Fate of ‘Hard Market’ Agencies (and Companies)
Jul 10 2017 // Property/casualty (P/C) insurance and group benefits industry is changing faster than ever. Many factors are the parents of such change. In part one of this two part series, I will focus on the more traditional aspects and...
Florida’s Citizens Requests Rate Increases, Policy Changes for 2018
Jul 10 2017 // Homeowners in South Florida, as well as in many other parts of the state, can expect another rate increase next year from the state-run insurer of last resort. Citizens Board of Governors approved recommended rates and...
Global Premium Growth Slows in 2016 – with China as Exception: Swiss Re
Jul 6 2017 // Global insurance premiums increased by 3.1 percent in real terms during 2016, down from growth of 4.3 percent reported in 2015, according to Swiss Re Institute’s sigma study. The report described last year’s...
Officials: New Minot Flood Plain Map Could Hike Insurance Premiums
Jun 30 2017 // Minot, N.D., leaders say the Federal Emergency Management Agency’s proposed new flood plain map could raise insurance premiums for thousands of property owners. The preliminary map shows about 4,000 properties along...
Lloyd’s to Cut 10% of UK Employees on Soft Market Pricing Pressures
Jun 26 2017 // Lloyd’s of London is planning to cut 10 percent of its staff in the UK as the world’s oldest insurance market looks to streamline operations and reduce costs amid continued pricing pressure on its...
Texas Stamping Office: Surplus Lines Insurance Premium Up for 2017
Jun 23 2017 // Data collected by the Surplus Lines Stamping Office of Texas (SLTX) shows that insurance premium amounts recorded in May 2017 are higher than totals recorded in May of 2016 or 2015. The information was presented at the...
Cyber Insurance Premium Volume Grew 35% to $1.3 Billion in 2016
Jun 23 2017 // Property/casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 percent jump from 2015, according to reports by Fitch Ratings and A.M. Best. The largest cyber insurance writers...
Norway’s Protector Forsikring Insured Grenfell Tower Fire; Price Tag Debated
Jun 22 2017 // Olso-based Protector Forsikring is the insurer of Grenfell Tower, the residential block that was destroyed last week by a raging fire that killed 79 people. “Based on the information we have as of now, the damage is...
Florida’s Citizens Approves Policy Changes, 5.3% Statewide Rate Increase for 2018
Jun 21 2017 // Homeowners in South Florida, as well as in many other parts of the state, should expect additional rate increases next year from the state-run insurer of last resort. Citizens Board of Governors approved recommended rates...
California Temporary Total Disability Rates for 2018 to Increase
Jun 20 2017 // California’s 2018 minimum and maximum temporary total disability rates will increase on Jan. 1, 2018, the state’s Division of Workers’ Compensation announced on Tuesday. The minimum TTD rate will increase...
2% Rate Hike Approved for North Carolina Auto Insurers
Jun 19 2017 // North Carolina’s insurance regulator says he’s reached a deal with auto insurers for a premium increase of just over 2 percent instead of the nearly 14 percent average increase companies sought in February. The...
In ‘Classic’ Soft Market Battle, Brokers and Carriers Attack Each Other
Jun 14 2017 // Chief executive officers of property/casualty insurance carriers and insurance brokers called each other out last week for engaging in activities they said are “classic signs of a soft market.” During a session...
Cyber Liability Sales Show More Growth, Price Stability: Report
Jun 5 2017 // Businesses are buying more cyber insurance and prices for the coverage are stabilizing, according to the latest survey by The Council of Insurance Agents and Brokers. According to the survey of about 100 commercial lines...
All Commercial Lines Rates, Even Workers’ Compensation, Up in May: IVANS Index
Jun 1 2017 // The May IVANS Index shows that for the first time in several months, premium renewal rates in all major commercial insurance lines are in positive territory. Notably, May is the first time in 2017 that workers’...
Massachusetts’ The Hanover Insurance Group Elects Price to Board of Directors
May 31 2017 // The Hanover Insurance Group Inc., a Worcester, Mass.-based holding company for several property and casualty insurance companies, has elected Michael D. Price to the company’s board of directors, effective July 3....
Cyber Insurance Sales Continue to Grow, Prices Stabilize, Brokers Report
May 23 2017 // Businesses are buying more cyber insurance and prices for the coverage are stabilizing, according to the latest survey by The Council of Insurance Agents and Brokers. According to the survey of about 100 commercial lines...
New York Board Proposes 4.5% Workers’ Compensation Rate Decrease
May 16 2017 // New York businesses could soon see some slight relief in workers’ compensation premiums, according to an announcement from Gov. Andrew M. Cuomo. The governor’s office released a statement Monday saying that the...
