rate increases News

As Texas Windstorm Insurer Mulls Rates, Policyholders, Lawmakers Strongly Oppose Hikes

Texas’ property insurer of last resort for wind and hail in counties along the Gulf Coast is finding itself once again between a rock and a hard place — or perhaps more appropriately, between a hurricane and a tornado — …

Rate Increases Approved for Texas Auto Insurer for Residual Market

Proposed rate increases for both private passenger and commercial auto insurance rates have been approved for the Texas Automobile Insurance Plan Association (TAIPA). The Texas Department of Insurance granted TAIPA’s filing for a 4.9% increase private passenger rates and a …

Texas Auto Insurance Residual Plan Files Rate Increases

The auto insurer of last resort in Texas has filed rate increases for both private passenger and commercial auto coverage. The Texas Department of Insurance reported that the Texas Automobile Insurance Plan Association has filed rate increases of 4.9 percent …

Maine Individual Insurers Seek Nine Percent Rate Hike

Two insurers on Maine’s individual health insurance market are requesting lower-than-expected rate increases for 2019. Portland Press Herald reports the insurers are requesting average rate increases of over 9 percent in 2019. Higher federal subsidies could help 85 percent of …

Oklahoma Insurance Regulators: No Authority to Approve ACA Rate Hikes

The Oklahoma Insurance Department does not have statutory authority to approve or deny rate increases filed by insurers on the federal health insurance exchange, state regulators say. Oklahoma, along with Texas, Missouri, Alabama and Wyoming, is a direct enforcement state …

Oklahoma Commissioner: 4 Insurers Have 55% of Earthquake Market

Data released at a May 24 hearing to determine the competitiveness of earthquake insurance coverage in Oklahoma shows that four insurance companies have 55 percent of the market in the state. That’s a concern for Insurance Commissioner John D. Doak, …

Louisiana Citizens Property Insurer Plans Rate Changes

Almost all of the Orleans Parish homeowners who buy coverage from the state insurer of last resort could see their rates drop 6.3 percent if the Louisiana Insurance Department approves proposed rate reductions. The Advocate reports a mix of rate …

Large Michigan Health Insurers Seeking Big Rate Increases in 2015

Most people buying their own health insurance in Michigan could see near double-digit premium increases next year. State insurance regulators said that dominant insurers Blue Care Network and Blue Cross Blue Shield want to raise rates by an average of …

W.R. Berkley Q3 Profit Rises 36% to $137M; Rates on Renewed Policies Up 6.4%

W.R. Berkley Corp. reported $136.97 million net income for its 2013 third quarter, up 36 percent from $100.95 million income posted during the same period in 2012. For the first nine months of this year, net income came in at …

Terrebonne Parish President Urges Out-of-State Calls on Flood Insurance

A south Louisiana parish president is calling on residents to contact out-of-state relatives and friends to enlist help in the fight against projected drastic flood insurance costs. Changes to the National Flood Insurance Program could mean many thousands of people …