Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Homeowner’s Insurance Rates to Rise 10% In Arkansas
Sep 14 2009 // Homeowner insurance premiums in Arkansas are expected to rise this year by an average of 10 percent as the industry works to rebound from 2008’s dual blows of foul weather and nasty financial markets. The Arkansas...
Massachusetts Commissioner Caps Premium Increase for Riskiest Drivers
Sep 9 2009 // Massachusetts Insurance Commissioner Nonnie Burnes has laid out what she sees as the “fair” range of auto insurance premium increases for those drivers insured through the state’s residual market. In a...
Top 25 Workers’ Comp Insurers Show 36% Increase in Average Direct Premium Written
Sep 7 2009 // Results Based on Insurers’ Growth June 30, 2009, versus June 30, 2008 As I write this article, the unemployment rate in the United States was reported to be 9.4 percent as of the end of July. Gross Domestic Product...
Rates, Claim Frequency Still Declining in Workers’ Comp; Medical Costs Rise
Sep 7 2009 // States Are Not Equal in Handling Worker Injuries Prices for workers’ compensation insurance in the United States declined in 2008 and, in general, that trend is likely to continue in throughout 2009, according to the...
Marsh Finds Excess Capacity, Competition Inhibit Premium Increases
Aug 26 2009 // According to figures released by Marsh “insurance premium rate reductions slowed for property and casualty business across Europe, the Middle East and Africa in the first half of 2009.” Marsh also concluded...
South Carolina Flood Insurance Premiums, Deductibles Rising
Aug 26 2009 // Flood insurance premiums and deductibles are increasing by about 8 percent for thousands of homeowners across South Carolina. The National Flood Insurance Program is raising monthly premiums and doubling deductibles...
Survey: Transportation Insurance Market Soft, But Leveling Off
Aug 26 2009 // Transportation insurance rate decreases seem to be moderating and are down on average between 1 percent to 10 percent, according to a recent industry survey on availability and rate trends in the transportation insurance...
Mississippi Insurance Chief Criticizes State Farm’s 45% Coastal Rate Hike
Aug 25 2009 // State Farm is looking to raise coastal homeowners insurance rates in Mississippi an average 45 percent but the state regulator isn’t very receptive to the idea. “I am not going to approve the present...
Workers’ Compensation Rate Hike Proposed for 2010 in Iowa
Aug 24 2009 // The Iowa Insurance Division reported that the National Council on Compensation Insurance has made a rate filing which affects the premium rates for workers’ compensation insurance. The rate filing proposes an overall...
Family Health Insurance Premiums Seen Rising 94% by 2020
Aug 20 2009 // Nationally, family premiums for employer-sponsored health insurance increased 119 percent between 1999 and 2008, and could increase another 94 percent to an average $23,842 per family by 2020 if cost growth continues on...
Louisiana Citizens: Lower Assessment Fee but No Rate Hike, Yet
Aug 17 2009 // The governing board of Louisiana’s state-backed property insurance firm on Aug. 13 approved a reduction in a fee imposed on policyholders, money that goes to pay off debt incurred because of Hurricane Katrina...
Premium Growth: Top 25 Premium Gainers Q1 2009 Versus Q1 2008
Aug 17 2009 // Roy H. Williams is an author and marketing consultant. He is known for his Wizard of Ads trilogy. He founded the Wizard Academy Institute. Although he is credited with saying “Consequently, a young business often...
Calif. Workers’ Comp Rating Bureau to Recommend 22.8% Increase in Rates
Aug 13 2009 // The WCIRB will submit a filing to the California Department of Insurance (CDI) recommending an approximate 22.8 percent increase in pure premium rates (or “claims cost benchmark”) effective Jan. 1, 2010. The...
Louisiana Citizens CEO to Ask for 9% Rate Increase
Aug 13 2009 // The chief executive of Louisiana’s state-backed property insurance company is seeking a 9.2 percent average rate increase for 2010, though he said some policyholders will probably see their rates decrease. John...
Virginia to Consider Increase for Some Workers’ Comp Rates
Aug 12 2009 // The Virginia State Corporation Commission will consider a request to raise workers’ compensation premiums at a meeting in October. The National Council on Compensation Insurance Inc. (NCCI), a rate service...
Has the Declining Economy and Soft Market Affected Your Marketing Plans for 2009/2010?
Aug 6 2009 // Beacon Marketing, Inc. – “Helping to guide your prospecting needs to new destinations” Beacon is coming up on their 2nd year with helping agents across the country write new business and they have been...
Financial Institutions’ Insurance Prices Still Going Up, Says Willis
Aug 5 2009 // Financial institutions faced an average premium hike of 15 percent in the second quarter of 2009, as insurers seek to make up for underwriting losses resulting from a deluge of credit crunch-related Professional Indemnity...
Travelers Earnings Fall 20% in Q2; Net Premiums Down Slightly
Jul 30 2009 // Travelers Cos. Inc. said on Thursday that second quarter earnings fell about 20 percent on lower investment income and underwriting profit. An increase in premium levels helped Travelers’ net policy sales keep pace...
Ohio Auto and Homeowners Insurance Rates Increased in 2008
Jul 28 2009 // Ohio Department of Insurance Director Mary Jo Hudson announced that the average rates for the state’s top 10 private passenger auto insurers increased 0.8 percent in 2008. The average rates for the state’s top...
Louisiana Unemployment Rate Rises; Jobs Increase in Some Sectors
Jul 21 2009 // Louisiana was among the 38 states that recorded higher unemployment rates in June, but the state has experienced job growth during the past year in certain industry sectors. The Louisiana rate of 6.8 percent remains...
