Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Mississippi Officials Seek Ways to Stem Flood Insurance Rate Hikes
Aug 23 2013 // Calling pending flood insurance increases “drastic and draconian,” U.S. Rep. Steven Palazzo of Gulfport met Wednesday with state and local leaders to discuss ways to stem the tide of rising insurance rates that...
Employer Health Premiums Slow for Second Year: Kaiser
Aug 22 2013 // Health-insurance premiums to cover working Americans rose 4 percent this year, less than the previous two years in another sign that the cost of employee benefits for U.S. companies may be slowing. Annual premiums for a...
Florida’s Citizens Makes Case for Homeowners, Sinkhole Rate Increases
Aug 21 2013 // Florida’s state-backed property insurer is seeking a statewide average 6.6 percent increase in homeowners’ rates and a 24.8 percent increase in sinkhole rates while citing reduced losses and an improved...
Illinois Workers’ Comp Insurance Rate Down 4.5 Percent
Aug 21 2013 // The rate used to calculate workers’ compensation insurance premiums has dropped again, a direct result of reforms Gov. Pat Quinn signed into law in 2011, his aides said. The National Council on Compensation...
P/C Direct Premium Written Up Nearly 4.8%
Aug 19 2013 // Direct premium written (DPW) for property/casualty insurance companies continued its upward trend during the first quarter of 2013. At year-end 2012, the industry reported more than $523 billion of DPW — an all-time...
Commercial Rate Increases Slowed in July: MarketScout
Aug 19 2013 // After four months of going up at 5 percent, commercial property/casualty insurance rates have moderated. The July 2013 rate increase was plus 4 percent, according to MarketScout’s market index. Rate increases for...
Insurers Seek 1% Increase in Florida Workers’ Comp Rates
Aug 16 2013 // Florida’s employers can look forward to little, if any, change in their 2014 workers’ compensation rates as the state’s industry-backed rating agency has filed for a modest statewide average 1 percent...
Texas Automobile Insurance Plan Association Rates to Rise
Aug 12 2013 // Rates charged for private passenger automobile insurance provided through the Texas Automobile Insurance Plan Association (TAIPA) will increase overall by 5.6 percent, the Texas Department of Insurance reports. New rates...
NCCI Filing Seeks Decrease in N.H. Workers’ Comp Loss Costs, Assigned Risk Rates
Aug 9 2013 // The National Council on Compensation Insurance (NCCI) recently delivered a workers compensation loss cost filing to the New Hampshire Insurance Department. Based upon its review of the most recently available data, NCCI...
Mississippi Wind Pool Rates to Rise
Aug 9 2013 // Insurance rates for the state wind pool are set to increase Dec. 1 on renewals and new policies. The Sun Herald reported that a Mississippi Insurance Department filing shows owners of homes and mobile homes will see hikes...
Florida CFO: Why Aren’t Florida Property Rates Falling Along with Reinsurance?
Aug 9 2013 // Florida’s top financial officer is questioning regulators on why reports of significantly lower reinsurance costs worldwide are not translating into reduced premiums for homeowners around the state. Chief Financial...
NCCI Files for 4.5% Decrease in Illinois Work Comp Advisory Rates
Aug 9 2013 // The National Council on Compensation Insurance (NCCI) has filed for an 4.5 percent decrease in voluntary advisory insurance rates in Illinois, effective Jan. 1, 2014. The Illinois Workers’ Compensation Commission...
Marsh Q2 Insurance Revenue Up 3%; Sees ‘Modest’ Price Increases
Aug 8 2013 // Marsh & McLennan Cos. (MMC) reported its 2013 second-quarter net profit of $388 million, up 17.9 percent compared to $329 million net profit reported during the same quarter one year ago. Net profit for the first six...
Commercial Rate Increases Slowed in July: MarketScout
Aug 6 2013 // After four months of going up at 5 percent, commercial property/casualty insurance rates have moderated. The July 2013 rate increase was plus 4 percent, according to MarketScout’s market index. Rate increases for...
Prices Up Again in Q2 But Market Hardening May Be Moderating: Council
Aug 5 2013 // Commercial property/casualty pricing continued to gently creep upwards in the second quarter, however signs of some moderating of increases also surfaced. The Council of Insurance Agents & Brokers’ quarterly...
Hanover Q2 Profit Rises to $53M; Strong Pricing Environment Cited
Aug 1 2013 // The Hanover Insurance Group Inc. reported net income of $53.4 million for the 2013 second quarter, an increase of 157 percent compared to $20.8 million net income during the same period a year ago. The net income for the...
Rates Up Moderately in U.S. in Q2 But Down Elsewhere: Marsh
Jul 31 2013 // Insurance rates in most major regions including Latin America, Asia-Pacific, the UK and continental Europe declined modestly in the second quarter of 2013, while rates in the U.S. rose moderately, according to insurance...
Crop Insurance, High Crop Prices Leading to Eco-Catastrophe: Environmental Group
Jul 31 2013 // Sustained high prices for corn, soybeans and wheat combined with record U.S. crop-insurance payouts are encouraging farmers to plow fragile lands and put ecosystems at risk, an environmental advocacy group said. Northern...
Chubb Q2 Profit Jumps 43% to $579M; Renewal Rates Up in All Business Units
Jul 26 2013 // The Chubb Corp. reported its 2013 second quarter net income of $579 million, a 43.3 percent increase from $404 million net income posted a year ago. The company said it benefited from higher rates and stronger underlying...
New Capital Pushing Cat Reinsurance Prices Down 5-15%: Ace’s Greenberg
Jul 25 2013 // Ace Ltd. Chief Executive Officer Evan Greenberg said the influx of Wall Street capital into the reinsurance industry is pressuring rates and that he is prepared to cut sales of backstop coverage. Prices for catastrophe...
