The Pennsylvania Insurance Department (PID) reported that in 2024 it refused to approve $180.3 million in annual property/casualty (P/C) insurance premium increases in the state through its rate review processes. The PID said it rejected premium increases sought by insurers …
Florida’s newest legislative leaders on Tuesday rattled some sabers about property insurance rates and claims but offered no agenda for the upcoming session that begins in March, according to state news reports. Incoming Senate President Ben Albritton, R-Wauchula, warned insurers …
Pennsylvania Insurance Commissioner Teresa Miller announced a change in guidance allowing greater flexibility in federally required inflation protection for long term care partnership policies. This flexibility means more consumer choice for Pennsylvanians and should allow insurers to mitigate or even …
Health insurance companies would no longer be able to raise rates for Affordable Care Act consumers in Missouri without review by a state agency under a measure awaiting the governor’s signature. Advocates say the change is long overdue. Missouri is …
The announcement by the UK government that it planned to raise premium rates for its ultimate backup reinsurer Pool Re initially raised fears that coverage through the system could be diminished. Willis noted, however, that although “commentators initially thought the …
Brit Plc, a Lloyd’s of London insurer, posted a 4.5 percent increase in premiums and said it would pay its first dividend following its initial public offering in March. The shares gained. Premiums before reinsurance expenses rose to £701.2 million …
Thousands of Coloradans could face major cost increases for their flood insurance, just as many are trying to decide whether to rebuild or move on after the devastating September flooding. More than 5,700 federally subsidized policies in Colorado could be …
Waterlogged towns on the River Thames west of London braced for more floods as rains persisted across southern England and Deloitte LLP said the storms may cost insurers £1 billion ($1.6 billion) by April. The Environment Agency has 16 severe …
Following a Board of Directors meeting, London-based Steamship Mutual announced that it has “reviewed the Club’s open policy years, as well as claims in earlier years, and considered the premium ratings required for the 2014 policy year.” On the basis …
“Property/casualty insurers’ operating profits improved in 2012, driven by reduced incurred losses from natural catastrophes and core loss ratio improvements from recent underwriting and pricing actions,” concludes a report from Fitch Ratings. The survey is a “compilation of full-year GAAP …
