Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
After Years of Increases, Florida Property Insurance Rates May Be Stabilizing
May 29 2013 // It’s been nearly eight years since Hurricane Wilma raked the southern end of Florida and caused billions in damages, the last of eight hurricanes to hit the state in 2004 and 2005. Yet even as the state has been...
Rockwood Decreases Agent E&O Rates in Massachusetts, California, Texas
May 7 2013 // Rockwood Programs has implemented underwriting guideline changes to its P&C Agents E&O program. The modifications will result in a rate decrease in the states of California, Massachusetts, Nevada, and Texas. The...
Commercial Rates Up 5% in April; Berkshire Move Could Affect Market: MarketScout
May 7 2013 // Property, casualty and professional liability insurance rates were up five percent in April, according to MarketScout’s most recent composite index. That matches the increase for March. Commercial property and...
Massachusetts FAIR Plan Seeks Rate Hike
May 6 2013 // The Massachusetts FAIR (Fair Access to Insurance Requirements) Plan, the state’s home insurer of last resort, has proposed in April an average statewide rate hike of 6.8 percent. Testimony from expert witnesses and...
SNL: E&S Premiums Up in 2012; Top 30 Carriers Ranked
May 2 2013 // Excess and surplus lines premiums in the U.S. were up for a second consecutive year in 2012, rising 10.8 percent to $25.44 billion, and grew at a faster rate than in 2011, according to SNL Financial. Not too long ago —...
Storm Costs Driving Up New Jersey Auto Insurance Rates
Apr 30 2013 // Losses from previous storms are helping to drive up New Jersey’s auto insurance rates, which are already the highest in the nation. The Record newspaper reports the state approved increases for 26 insurance companies...
Mass. FAIR Plan Seeks Rate Hike; Expert Witnesses to Testify on Insurer’s Behalf
Apr 28 2013 // The Massachusetts FAIR (Fair Access to Insurance Requirements) Plan, the state’s home insurer of last resort, has proposed this month an average statewide rate hike of 6.8 percent. The FAIR Plan, whose official name...
Travelers Q1 Profit Up 11% to $896M; CEO Says ‘We Will Keep Going’ on Rate Hikes
Apr 24 2013 // The Travelers Companies Inc. on Tuesday reported $896 million net income for its 2013 first quarter, an increase of 11 percent compared to $806 million income reported during the first quarter of 2012. Travelers said the...
Oklahoma Flood Insurance Rate Increases in October
Apr 22 2013 // The Oklahoma Department of Insurance says flood insurance administered by the National Flood Insurance Program is set to increase rates for new and renewal policies effective Oct. 1. Flood insurance is offered to...
Rates Should Rise Moderately for Most Commercial Lines
Apr 22 2013 // Commercial insurance buyers in all product lines should see rates rise moderately through the remainder of 2013, although commercial property rates for non-catastrophe exposed risks and some specialty lines may see slight...
Commercial Rates Continued Up in March, Even for Large Accounts: MarketScout
Apr 22 2013 // Commercial insurance rates were up about 5 percent in March, according to the latest barometer from MarketScout and the National Alliance for Insurance Education and Research. Manufacturing continues to post the largest...
10-Point Checklist for DO Renewals in a Hard Market
Apr 22 2013 // No one, least of all the insured, likes a price increase. But with the D&O market firming across the board – as confirmed by the Towers Watson “2012 Directors and Officers Liability Survey” released in...
Senate Bill Would Require Approval of Large Louisiana Citizens Rate Hikes
Apr 18 2013 // Large rate hikes for customers of Louisiana’s property insurer of last resort would require legislative approval, under a bill that received Senate Insurance Committee backing. St. Mary Parish Sen. Bret Allain...
Willis Energy Report: ‘Hardening’ of ‘Downstream’ Market; ‘Upstream Positive’
Apr 16 2013 // Recent natural catastrophe losses, including last year’s Hurricane Sandy, have prompted “a mild hardening in the Downstream Energy insurance market, so much so that some Downstream insurers may be on the cusp...
Pricing Hikes, Improved Underwriting Bode Well for P/C Industry: Conning
Apr 12 2013 // With 2012 preliminary results showing improvement in profitability in the sector, the property/casualty insurance industry should see continued strong net premium growth and a substantially improved combined ratio for...
Commercial Rates Continued Up in March, Even for Large Accounts: MarketScout
Apr 5 2013 // Commercial insurance rates were up about five percent in March, according to the latest barometer from MarketScout and the National Alliance for Insurance Education and Research. Manufacturing continues to post the largest...
Flood Insurance Policyholders Told to Expect Big Premium Hikes
Mar 28 2013 // The head of the Federal Emergency Management Agency said people who buy federal flood insurance need to plan for big rate hikes. FEMA director Craig Fugate said some people now paying hundreds of dollars a year could wind...
Obamacare to Hike Some, Lower Other Individual Health Premiums: Sebelius
Mar 27 2013 // President Barack Obama’s top healthcare adviser acknowledged on Tuesday that costs could rise in the individual health insurance market, particularly for men and younger people, because of the landmark 2010...
North Carolina Approves 7% Home Insurance Rate Increase
Mar 25 2013 // North Carolina is allowing companies to raise homeowners’ insurance rates by a statewide average of seven percent a year starting in July. Insurance Commissioner Wayne Goodwin agreed to the increase for less than the...
