Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Global Insurance Rate Decreases in Q4 Slowed for 4th Consecutive Quarter: Marsh
Feb 17 2017 // Global insurance rate decreases moderated on average for the fourth consecutive quarter, down 3.1 percent (compared to the previous quarter’s decrease of 3.2 percent), according to Marsh’s Global Insurance...
North Carolina Auto Rates Going Up? Rate Bureau Files for 13.8% Rate Increase
Feb 6 2017 // The North Carolina Rate Bureau (NCRB) is requesting an average increase of 13.8 percent on private passenger automobile insurance rates in its latest filing with the North Carolina Department of Insurance (NCDOI). NCRB...
Tow Truck Market Gets Hit Hard as Carriers Exit Market
Feb 6 2017 // Tow truck drivers operate in a dangerous world. Every day they face angry drivers while repossessing vehicles, dangerous driving and road conditions, near misses while operating heavy equipment, and close calls on U.S....
E&S Market Continues to See Growth in Premium: Texas Stamping Office
Feb 6 2017 // Overall, 2016 ended on a positive note for the U.S. excess and surplus lines insurance industry, according to the Surplus Lines Stamping Office of Texas (SLTX). Nationally, nearly $26 billion in surplus lines insurance...
California Judge Denies State Farm’s Request to Delay Rate Reduction Order
Jan 27 2017 // Superior Court Judge Katherine Bacal has denied State Farm’s request for a temporary restraining order in an attempt to delay California Insurance Commissioner Dave Jones’ enforcement of his order directing the...
Top 25 Insurers: P/C Direct Premium Written Up 3.9 Percent
Jan 23 2017 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2015, approximately $585 billion of DPW was reported, a record-high for the industry. For 2015,...
North Carolina Rate Bureau Withdraws Dwelling Rate Increase of 19.6% over Data Error
Jan 20 2017 // The North Carolina Rate Bureau is alerting all member companies that it has withdrawn its request for a 19.6 percent rate increase on dwelling policies due to a data error on its Dwelling Policy Program revisions announced...
Soft Market Is Main Factor Limiting Growth of UK MGAs: Survey
Jan 20 2017 // Soft market conditions have replaced regulation and compliance as the main factor affecting growth for UK managing general agents (MGA) in 2017, said a survey of members of the London-based Managing General Agents’...
More Drug Companies Vow to Limit Price Increases
Jan 13 2017 // Grappling with a backlash against high U.S. prescription drug prices, more pharmaceutical companies are pledging to limit annual increases to under 10 percent – but the tactic is doing little to salve critics,...
Is Soft Market Bottoming? A.M. Best Points to Some Promising Signs
Jan 10 2017 // Some observers believe the bottom of the reinsurance market may be in sight because brokers are having greater difficulty filling out underpriced programs and further concessions in terms are difficult to obtain, according...
Court Rules Florida Workers’ Comp Rate Hike to Remain, For Now
Jan 9 2017 // Florida’s workers’ compensation rate increase of 14.5 percent will remain in effect while a Florida appeals court reviews a legal challenge to the state’s recent ratemaking process. The First District...
Missouri Expects Another Decrease in Workers’ Comp Rates
Jan 9 2017 // Employers in Missouri should see a continued decrease in workers’ compensation insurance costs. The Missouri Department of Insurance is recommending a 4.6 percent decrease in workers’ comp insurance loss costs...
Decline in Reinsurance Prices Slowed at January Renewal: Carpenter
Jan 6 2017 // Reinsurance pricing continued trending downward at the Jan. 1, 2017 renewal — across most classes of business and geographies, but the pace of that decline is slowing, according to Guy Carpenter & Co. Although...
Louisiana Workers’ Comp Insurance Rates to Decline Again
Jan 3 2017 // The Louisiana Department of Insurance announced a rate filing from the National Council on Compensation Insurance (NCCI) for a statewide decrease of 9.8 percent in workers’ compensation rates has been...
Texas Surplus Office Projects 2016 Increase in Premium, Filings
Dec 22 2016 // Projections show that the Surplus Lines Stamping Office of Texas is on track to surpass fourth quarter premium totals set in the past two years, according to data prepared by the office. The amount of surplus lines filings...
Court Rules Florida Workers’ Comp Rate Hike to Remain, For Now
Dec 19 2016 // Florida’s workers’ compensation rate increase of 14.5 percent will remain in effect while a Florida appeals court reviews a legal challenge to the state’s recent ratemaking process. The First District...
North Carolina Insurers Want 19.6% Rate Hike for Dwelling Policies
Dec 19 2016 // The North Carolina Rate Bureau (NCRB) has requested a 19.6 percent rate increase on all dwelling insurance policies, according to a statement from the North Carolina Department of Insurance. NCDOI announced Dec. 1 it is...
Washington Workers’ Comp Rates for 2017 to Increase Less Than 1%
Dec 19 2016 // The average premium for workers’ compensation coverage in Washington will go up less than 1 percent in 2017, according to the Department of Labor & Industries. L&I announced this month the rate will rise by...
D&O Prices Down, Auto Up in Q3; Other Commercial Lines Stable
Dec 19 2016 // Price decreases accelerated for directors and officers insurance in the 2016 third quarter, a period during which commercial insurance prices generally remained flat once again overall. The latest Willis Towers...
California Workers’ Comp Medical Mileage Rate Will Decline for 2017
Dec 13 2016 // The Internal Revenue Service has announced that the standard mileage rate for business miles will decline 0.5 cents per mile to 53.5 cents per mile as of Jan. 1, 2017. The California Workers’ Compensation Institute...
