The Travelers Companies CEO Jay Fishman said at a financial conference yesterday that his company raised rates for business insurance customers by 5.2 percent in October, followed by 5.8 percent in November, according to a news report. The Wall Street …
American International Group said its U.S. commercial line rates are increasing at an accelerated pace. A number of other major insurers have been offering similar observations in this earnings season. “In U.S. commercials lines, we are seeing a rate increase …
Alfa Mutual Group has raised insurance rates for homeowners by 20 percent across Alabama, with bigger increases for landlord and farm policies. Charles Angell, the state’s actuary, said the increase isn’t designed to make up for losses from the tornadoes …
Florida’s largest insurer of homes and businesses, state-backed Citizens Property Insurance Corp., will ask its board to approve a sizable premium increase — 400 percent– for providing coverage on sinkhole policies, a company spokeswoman said this week. The company will …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has released the latest edition of its “Fac Quarterly report,” which provides an analysis of trends witnessed in the facultative reinsurance market during the first quarter of 2011. …
Massachusetts Attorney General Martha Coakley is urging state insurance regulators to reject Progressive’s request for a 23.5 percent rate hike for commercial auto coverage. Coakley’s office says Progressive’s rates were excessive and unfair to Massachusetts businesses and that the information …
State Farm of Florida is requesting a statewide average 27.7 percent homeowners insurance rate increase citing the rising costs of sinkhole claims. The request comes as Florida lawmakers are trying to broker a deal over how to address the rise …
State Farm Mutual Automobile Insurance Co., the largest insurer of autos in Tennessee, is increasing its overall rate level in the state an average of 0.4 percent effective Feb. 21. After this rate change is implemented, State Farm said its …
