Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Commercial Insurance Rates Up 5% Again in June: MarketScout
Jul 8 2013 // Increases for commercial property/casualty insurance rates in the United States were again about 5 percent during June, the fourth straight month at that pace. According to the latest composite index from MarketScout, all...
U.S. Property Cat Re Prices Down, Casualty Softening: Willis Re
Jul 2 2013 // Reinsurers are taking “robust defensive measures to maintain market positions recently eroded by new capital markets entrants,” with prices down 25 percent on some Florida property accounts, according to a new...
P/C Direct Premium Up Nearly 4.5% for All-Time Industry High
Jul 1 2013 // Direct premium growth for property/casualty insurance companies continues to increase. At year-end 2012, more than $523 billion of direct premium written (DPW) was reported, an all-time high for the industry. For 2012,...
Florida’s Citizens Seeks 6.6% Home Rate Hike; Cap on Sinkhole Rates in High-Risk Areas
Jun 27 2013 // Florida’s state-backed property insurer requested a statewide average 6.6 percent increase in homeowners’ rates along with a cap on sinkhole rate increases in three high-risk counties at between 20 percent and...
Swiss Re sigma Study Finds Global Insurance Premium Growth at 2.4%
Jun 26 2013 // Swiss Re’s latest sigma study reveals that “total global premiums written increased by 2.4 percent in real terms in 2012 to $4.613 trillion. Life premiums expanded by 2.3 percent unwinding some of the...
Rate Hikes on Agenda for Florida’s Citizens Insurance
Jun 24 2013 // Florida’s largest property insurer, already under fire for everything from recent business deals to how much it pays its executives, is readying another round of rate hikes for homeowners. The board of Citizens...
Auto Insurance Customer Satisfaction Drops Due to Rising Rates: J.D. Power
Jun 24 2013 // Due to rising insurance prices and some unhappiness with policy offerings, overall customer satisfaction with auto insurance companies is down in 2013 from an all-time high in 2012, but remains comparatively high relative...
Industry Group Opposes Massachusetts Proposal to Set Auto Labor Rates
Jun 21 2013 // The National Association of Mutual Insurance Companies is opposing bills currently under consideration in Massachusetts that would require the state to set a minimum hourly labor rate that insurers must pay for auto...
Iowa Health Insurer to Seek Smaller Rate Hikes
Jun 19 2013 // Months after customers blasted the company for skyrocketing rates, Iowa’s dominant health insurer says it will limit premium increases in 2014 to less than six percent for individual and small business...
West Africa Piracy Endangering Commodities Shipping, Increasing Rates
Jun 18 2013 // Pirate attacks off West Africa’s mineral-rich Gulf of Guinea have almost doubled from last year and threaten to increase the costs and jeopardize the shipping of commodities from the region. The Gulf of Guinea, which...
Commercial Insurance Rates Up 5% Again in May: MarketScout
Jun 17 2013 // The average composite rate for commercial property/casualty insurance in the U.S. was up 5 percent for May 2013. This marks the third month in a row for a 5 percent increase, according to MarketScout’s analysis. By...
Commercial Insurance Rates Were Up 5% Again in May: MarketScout
Jun 5 2013 // The average composite rate for commercial property/casualty insurance in the U.S. was up five percent for May 2013. This marks the third month in a row for a five percent increase, according to MarketScout’s...
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...
