Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Willis Exec Warns Mutual Insurers Face Increasing ‘Pricing Pressure’
Apr 17 2014 // According to David Thomas, CEO of Market Services & Solutions at Willis, Mutual insurers face increasing pricing pressure so must differentiate themselves to remain competitive. Speaking in a video blog on WillisWire,...
Municipal Bond Insurance Sales Expected to Rise With Interest Rates
Apr 13 2014 // Demand for municipal bond insurance is poised to increase as rising interest rates reduce investor appetite for riskier state and local debt, according to Janney Montgomery Scott. Bond insurance accounted for 4.4 percent...
NAPCO Report: Prices Decreasing, Competition Increasing in P&C Space
Apr 10 2014 // Insurers have become increasingly competitive and are reducing rates for most accounts as a result of low global insured catastrophe losses and added capacity from non-traditional market sources, according to wholesale...
Group Urges New York DFS to Review Auto Insurers’ Rate-Setting Practices
Apr 7 2014 // A consumer advocacy group said its analysis shows some of New York State’s largest auto insurers are charging higher premiums to motorists who have less education and non-professional, non-managerial jobs. The New...
North Carolina Coastal Homeowners Weigh Self-Insuring for Floods Due to Premium Hikes
Apr 7 2014 // Bill Cherry has seen his share of storms buffet his house and his Breezeway Restaurant and Motel near Topsail Beach in North Carolina, a slip of a barrier island just over two blocks wide. But with sharp increases in...
Competition Softens Rate Hikes for Architects, Engineers in 2014: Survey
Apr 7 2014 // Although most insurers providing professional liability insurance for architects and engineers sought to raise rates last year, the size of the increases generally failed to meet their expectations. Nevertheless, nearly...
P/C Reinsurance Market Softer Due to Alternative Capital: Execs
Apr 7 2014 // A new survey from Towers Watson confirms that more than half (55 percent) of property/casualty insurance chief financial officers believe the property reinsurance market is softer than the primary market, while about...
Mercury Ins. Lowers Homeowners Rates in Penn., Seeks to Grow Market Share
Apr 3 2014 // Mercury Insurance said the company is lowering its homeowners insurance rates for Pennsylvania residents by an average of 10 percent. The Los Angeles-based insurer said the rate reduction would help attract more...
In Maine, 3,300 Policyholders Likely to See Flood Insurance Rate Increases
Apr 2 2014 // Thousands of Maine homeowners and businesses could see their rates for flood insurance rise as the federal government attempts to put the troubled National Flood Insurance Program back on sound financial footing. Most of...
Penn. Workers’ Comp Insurance Rates to Decline for Some Employers
Apr 1 2014 // The Pennsylvania Departments of Insurance and Labor & Industry on Monday announced a 5.15 percent workers’ compensation rate reduction, effective April 1. The officials said the reduction would save millions of...
April Renewals Confirm Reinsurance Rates Continue to Fall: Willis Re Chairman
Apr 1 2014 // “Reinsurance rates began to fall last year,” said Willis Re’s Chairman James Vickers in a telephone interview. The January renewals “saw more reductions, and this has continued in...
In Delaware, Over 3,600 Policyholders Face Flood Rate Hikes
Apr 1 2014 // Premiums for thousands of Delaware property owners may increase significantly because of changes to the National Flood Insurance Program, but it seems many residents may not know about impending rate hikes of up to 25...
Rhode Islanders Grapple With Rising Flood Insurance Premiums
Apr 1 2014 // Steve Morris lives in a century-old restored cottage on a tucked away corner of Narragansett Bay in Rhode Island. The home survived big hurricanes in 1938 and 1954, and Morris has never worried about flooding. But the home...
In Maryland, 12K Residents Face Steady Rise in Flood Premiums
Mar 31 2014 // Changes in the federal flood insurance program are likely to mean higher premiums for thousands Maryland residents, and not just those living in Ocean City or along the Chesapeake Bay. Residents of smaller inland towns...
Thousands in New Hampshire Still Face Flood Premium Hike
Mar 31 2014 // Realtor Bob Preston has lived on New Hampshire’s seacoast his entire life and his family has sold and rented properties there for decades. He’s never had a property flood but still pays for federally mandated...
In Vermont, 2,400 Residents Likely to See Their Flood Premiums Rise
Mar 28 2014 // Much of downtown Montpelier, Vermont, is perched along the banks of the North Branch of the Winooski River, a waterway that has poured into buildings, forcing many homeowners to purchase flood insurance. Now 242 Montpelier...
Pennsylvania River Towns Facing Rising Flood Insurance Rates
Mar 27 2014 // Jeff King had put his house in Wilkes-Barre, Penn., up for sale for $90,000 last year, put off by the city’s struggles with crime and the desire for a better school district for his four children, when he got a...
New Flood Insurance Law Only Slows Rate Hike for 14K Conn. Property Owners
Mar 27 2014 // Stephen Nelson and Mary Anne Mayo are still struggling with the destruction from Superstorm Sandy, nearly 18 months after it swept through their Westport, Conn., home, taking their first-floor belongings into the Saugatuck...
In Virginia, Over 20K People May See Flood Insurance Rate Hikes of Up to 25%
Mar 26 2014 // More than 20,000 Virginia homeowners and businesses could see their rates for flood insurance rise up to 25 percent as part of an attempt to put the troubled National Flood Insurance Program back on sound financial...
Flood Insurance Fix Only Slows Rate Hike for 60K New Yorkers
Mar 24 2014 // For Gay Alexander, Superstorm Sandy “is not over,” she says, her voice cracking as she speaks about the cost for flood insurance on her damaged, waterfront Long Island home. The single mother of two...
