Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Surge in Auto Break-Ins Bumping up Crime Rate in Mississippi City
Nov 6 2015 // Hundreds of vehicle break-ins are a big part of the reason that major crimes are up in Hattiesburg. There were 376 vehicle break-ins during the first nine months of this year, compared to 114 a year ago, The Hattiesburg...
UK’s Direct Line Hikes Motor Premiums as Result of Claims Inflation
Nov 3 2015 // Direct Line Insurance Group Plc, the UK’s largest car insurer, said pricing for its motor business increased in the last two quarters because of higher claims. Rates for car cover rose 8.4 percent in the three months...
Mercury in California Says Net Premiums Rose, Net Income Fell in 3Q
Nov 2 2015 // Mercury General Corp. reported net written premiums rose 8 percent for the third quarter from a year ago. The board of directors for the Los Angeles, Calif.-based carrier also declared a quarterly dividend of 62 cents per...
California Commissioner Approves Reduced 2016 Pure Premium Rate Filing
Nov 2 2015 // California Insurance Commissioner Dave Jones approved workers’ compensation rates for 2016 that are 2 percent below the average approved in July. The Workers’ Compensation Insurance Rating Bureau submitted its...
New British Insurance Premium Tax Hike Could Further Squeeze Insurer Margins
Oct 30 2015 // A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. The jump in the insurance...
Commercial Insurance Rates, Except Auto and Flood, Still Falling: CIAB
Oct 29 2015 // Commercial property/casualty insurance prices continued to decline moderately — an average of 3.1 percent— during the third quarter, according to a survey by The Council of Insurance Agents & Brokers. The CIAB...
Premiums on New Jersey Health Exchange Rising 5%
Oct 28 2015 // The premium for a mid-level plan offered on the federal government’s health insurance exchange will be up by 5 percent in New Jersey in 2016. But premiums will be lower, as expected, for people choosing a new plan...
Ping An Profit Rises 32% as Higher Premiums Offset Stock Market Slump
Oct 28 2015 // Ping An Insurance (Group) Co., China’s second-largest insurer, said third-quarter profit rose 32 percent as higher premium income and banking revenue helped offset the impact of a stock market rout on investment...
Louisiana Workers’ Comp Insurance Rates Set to Decline Again
Oct 26 2015 // Commissioner of Insurance Jim Donelon reports that Louisiana businesses are expected to see a decrease in their workers’ compensation rates in 2016. The National Council on Compensation Insurance (NCCI) recently...
Qatar Insurance Posts 20% Premium Rise for 1st 9 Months of 2015
Oct 26 2015 // Qatar Insurance Company (QIC), the parent company of Qatar Re and Antares, has announced that for the first nine months of 2015 its gross written premiums increased by 20 percent from $1.23 billion to $1.48 billion. It...
California Commissioner Approves Reduced 2016 Pure Premium Rate Filing
Oct 20 2015 // California Insurance Commissioner Dave Jones approved workers’ compensation rates for 2016 that are 2 percent below the average approved in July. The Workers’ Compensation Insurance Rating Bureau submitted its...
Reinsurers See Further Price Declines for 2016 in Wake of Mergers
Oct 19 2015 // The world’s largest reinsurers are anticipating even bigger price declines when policies are renewed in 2016 than envisaged a month ago as a flurry of takeovers in the industry fails to absorb some of the excess...
E. Baton Rouge Refuses to Hike Employee Insurance Premiums
Oct 16 2015 // East Baton Rouge, La., city-parish government employees will not see an increase in their health insurance premiums. The Metro Council on Oct. 14 refused to raise health insurance premiums for city employees. The decision...
Idaho Workers’ Comp Rates to Increase Slightly For 2016
Oct 7 2015 // The Idaho Department of Insurance has received a proposal for an overall rate increase of 0.2 percent to workers’ compensation insurance for 2016 by the National Council on Compensation Insurance. NCCI collects...
Endeavour Appoints Price to Drive Growth of U.S. & Canadian Specialist Business
Oct 2 2015 // London-based Endeavour Insurance Services* has appointed David Price as divisional director to drive further growth of the company’s specialist business across its U.S. and Canadian accounts. Price’s role will...
Workers’ Compensation Premiums Up 5.3% in First Half of 2015: Demotech
Sep 25 2015 // Workers’ compensation insurers reported a 5.3 percent increase in direct written premiums during the first six months of 2015 versus the same period in 2014, according to actuarial firm Demotech’s review of...
Washington Labor Department Seeks 2% Workers’ Comp Rate Hike
Sep 24 2015 // The Washington State Department of Labor & Industries is proposing an average 2 percent rate workers’ compensation increase for 2016. Each fall L&I sets workers’ comp rates for the following year....
Mass. Senate Panel to Examine Recent Hikes in Home Insurance Rates
Sep 21 2015 // A Massachusetts Senate panel is examining recent hikes in homeowner insurance rates in Massachusetts. The Senate Post Audit and Oversight Committee has called insurance company officials and state regulators to testify at...
Texas Surplus Line Stamping Fee Rate to Increase Jan. 1
Sep 21 2015 // The surplus lines stamping fee rate in Texas will increase next year to 0.15 percent of the gross premium amount of surplus lines insurance policies, the Surplus Lines Stamping Office of Texas (SLSOT) reported. The...
New York Fears Audit of Insurer in Albany Probe Could Trigger Insolvency, Rate Hikes
Sep 21 2015 // New York doctors, some of whom already pay 10 times more for malpractice insurance than physicians in San Francisco, may see their rates soar thanks to a state audit beginning this month. Physicians’ Reciprocal...
