Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
West Virginia to See Decrease in Workers’ Comp Premiums
Aug 3 2015 // Gov. Earl Ray Tomblin says employers in the state will see an estimated $43 million reduction in workers’ compensation premiums in the coming year. Tomblin says employers have saved more than $323 million since the...
Auto, Homeowners Insurance Rates Rise in Ohio in 2014
Aug 3 2015 // The average rates for the top 10 private passenger auto and homeowner’s insurance groups in Ohio increased 2.6 percent and 4.3 percent, respectively, in 2014. The average rate change for auto insurance is similar...
The Doctors Co. Challenges Florida’s Order to Decrease Med Mal Rates
Aug 3 2015 // An order by the Florida Office of Insurance Regulation for medical malpractice insurer The Doctors Co. (TDC) to decrease its rates by 15 percent is being contested by the California-based company. A hearing has been set...
Massachusetts Senate to Launch Inquiry Into Home Insurance Rate Hikes
Jul 31 2015 // The Massachusetts Senate’s oversight body is launching an inquiry into homeowners insurance rate increases approved by the Division of Insurance (DOI) this year after a brutal winter led to increased claims...
Japan Earthquake Premiums to Rise as Insurers Reassess Risk After Fukushima
Jul 30 2015 // Japan’s insurance companies are pushing for an average 19 percent increase in earthquake premiums as they reassess risk following the unprecedented magnitude 9 quake four years ago. The increase could come into...
The Doctors Co. Challenging Florida’s Order to Decrease Med Mal Rates
Jul 27 2015 // An order by the Florida Office of Insurance Regulation for medical malpractice insurer The Doctors Co. (TDC) to decrease its rates by 15 percent is being contested by the California-based company. A hearing has been set...
Beazley First-Half Profit Rises 16%, Led by U.S. Premium Growth
Jul 24 2015 // Beazley plc, the first Lloyd’s of London insurer to report earnings, had a 16 percent increase in first-half profit, helped by growth in its U.S. business. Pretax profit rose to $154.5 million from $132.9 million a...
Ohio Sees Rise in Auto, Homeowners Insurance Rates in 2014
Jul 23 2015 // Ohio Lieutenant Governor Mary Taylor announced that average rates for the top 10 private passenger auto and homeowner’s insurance groups in Ohio increased 2.6 percent and 4.3 percent, respectively, in 2014. The...
Citizens to Hold Off on 2016 Sinkhole Rate Increases, For Now
Jul 20 2015 // In Citizens’ 2016 rate proposal, approved last month by the Citizens Board of Directors and awaiting approval by the Florida Office of Insurance Regulation, the insurer of last resort did not recommend any sinkhole...
Home Insurance Rates in Massachusetts Rising After Harsh Winter
Jul 14 2015 // Some of the largest home insurers in Massachusetts are raising premiums by about 9 percent to recoup what they paid out in claims for damage caused by last winter’s record-setting snowfall. The Boston Globe reports...
UK Insurers Ponder Implications of Premium Tax Increase
Jul 14 2015 // The unexpected announcement in UK Chancellor George Osborn’s budget, which would raise the Insurance Premium Tax (IPT) from 6 percent to 9.5 percent starting in November, poses a problem for UK-based insurers. David...
Florida’s Citizens Approves Rate Increases Along Coast
Jul 6 2015 // Citizens Property Insurance Corporation’s Board of Governors has approved a 2016 rate package that lowers rates for nearly half of Citizens’ personal lines policyholders while responding to increased water loss...
P/C Direct Premium Written Up Nearly 4 Percent
Jul 6 2015 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2014, more than $570 billion of DPW was reported, a record-high for the industry. For 2014, total...
Guy Carpenter Confirms Slowing of Pricing Declines in June Renewals
Jul 1 2015 // Guy Carpenter & Company, LLC, has reported that “after two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June...
Advanced Markets Drive 3.7% Global Premium Growth in 2014: Swiss Re
Jun 24 2015 // The global insurance industry gained momentum in 2014, with total direct premiums increasing by 3.7 percent to $4.778 trillion after having stagnated the previous year, according to Swiss Re’s latest...
Health Insurers Ask Pennsylvania Regulators for Big Rate Hikes
Jun 10 2015 // A national upswing of health insurance rates is coming to Pennsylvania, and that could mean bigger-than-expected cost increases next year for at least a couple hundred thousand Pennsylvanians who bought insurance in the...
Allianz to Shrink German Branch Network; Hit by Low Interest Rates
Jun 10 2015 // Allianz SE, Europe’s biggest insurer, said it will shrink its administrative branch network in Germany as low interest rates and regulatory demands hurt industry profitability. About 360 jobs, or about 1 percent of...
Price Declines Slow on June U.S. Reinsurance Renewals: Guy Carpenter
Jun 5 2015 // After two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals. Reinsurance broker Guy Carpenter & Co. reported that...
Health Insurers in Illinois, Michigan Seeking Rate Hikes for 2016
Jun 3 2015 // Blue Cross Blue Shield and Blue Care Network, which sell medical insurance to more than half of Michigan residents who buy their own coverage under the federal health care law, are seeking 2016 premium increases that...
Some Insurers Seeking 10-20% Rate Hikes on Obamacare Businesss
Jun 3 2015 // U.S. health insurers are submitting their 2016 rate requests for Affordable Care Act policies, with some asking for big increases as they adjust to customers who’ve recently gained coverage through the...
