Vermont regulators issued a bulletin last week addressing the issue of “price optimization” in personal lines ratemaking. The Vermont Department of Financial Regulation (DFR) noted in the bulletin that some property/casualty insurers have been relying upon the practice of price …
The New York Department of Financial Services (DFS) on March 18 sent out letters to hundreds of property/casualty insurers operating in the state, seeking information concerning price optimization. New York joins a growing number of states around the country that …
The Maryland Insurance Administration (MIA) issued a bulletin alerting insurers that the use of “price optimization” in Maryland is in violation of ยง27-212(e)(1) of the state’s Insurance Article. MIA said it is requiring insurers that currently utilize price optimization to …
The Professional Insurance Agents’ (PIA) recent survey of more than 400 independent agencies showed significant market changes in the Northeast — with the homeowners insurance and commercial property market appearing to be most affected by the shift. More than 400 …
W.R. Berkley Corp. said its 2012 fourth quarter net profit was $165.49 million, up 41.4 percent compared to the same period in 2011 when it had $117.03 million profit. For the full-year 2012, the Greenwich, Conn.-based commercial lines insurer reported …
Global insurance prices are set to rise for a third consecutive quarter as the industry strives to bolster its finances after paying near-record catastrophe claims last year, insurance broker Marsh said on Thursday. Average prices in the second quarter of …
