Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
‘Zombie’ Companies Likely to Keep Commercial Insurance Rates Rising
Jun 21 2021 // The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy is among the major concerns prompting insurers to reduce risk and charge higher premiums, a trend likely...
Studies Find Crash Rates Rise When States Legalize Marijuana; Suggest Link to Alcohol
Jun 17 2021 // Researchers report increasing evidence is that motor vehicle crash rates rise when states legalize recreational use and retail sales of marijuana, although what effects marijuana by itself has on drivers remains...
Increase in Homeowners Claims Spurs Higher Insurance Prices in Missouri
Jun 15 2021 // Severe weather trends and an increase in claims are impacting the price of homeowners insurance in Missouri, regulators say. A recent report issued by the Missouri Department of Commerce and Insurance shows that homeowners...
Failure of Many ‘Zombie’ Companies Likely to Keep Insurance Rates Rising: Swiss Re
Jun 8 2021 // The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy is among the major concerns prompting insurers to reduce risk and charge higher premiums, a trend likely...
CWCI: California Workers’ Comp Direct Written Premium Fell 11.4% in 2020
May 28 2021 // Total direct written premium in the California workers’ compensation system fell by 11.4% in 2020, dropping to an eight-year low driven by the ongoing decline in insurers’ average charged rates and relatively...
Cyber Insurers Hike Rates But Worry About Pricing Long-Term As Losses Mount: Fitch
May 27 2021 // U.S. insurers offering cyber coverage have been implementing significant pricing and underwriting actions in 2021 in response to a spike in cyber claims, according to Fitch Ratings. Fitch predicts that immediate...
People Moves: Howden’s Rahmita Price to Ed Asia; 3 Price Forbes Hires; WTW’s Pires to NFP; Tres to Carpenter; PwC’s Eastman to Specialist Risk Group
May 19 2021 // This wrap-up of international People Moves details recent appointments at Ed Broking, Price Forbes, NFP, Guy Carpenter & Co., and Specialist Risk Group (SRG). A summary of these new hires follows here. Elia Rahmita...
Social Inflation and Increasing Demands Drive Hard Market for Security Industry
May 17 2021 // As insurance markets harden across most lines, many in the industry are looking at the impact of social inflation: Increased litigation, broader contract interpretations and larger jury and settlement awards are driving up...
Report: California Workers’ Comp Written Premium Down in 2020
May 13 2021 // Written premium for 2020 was 13% below the previous year, and was at the lowest since 2012, a new report out on Thursday shows. The Workers’ Compensation Rating Bureau of California Quarterly Experience Report, which...
Commercial Insurance Price Hikes Begin to Moderate: Marsh
May 5 2021 // Global commercial insurance pricing continued its double-digit growth in the 2021 first quarter, but the rate of increase dipped for the first time since late 2017, Marsh found in its latest market index...
P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best
May 3 2021 // The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile,...
Rising Liability Premiums Adding Stress on Medical Practices: AMA Study
May 3 2021 // Medical liability insurance premiums have begun an upward trend after holding more or less steady during the past decade, according to a new analysis from the American Medical Association (AMA). In 2020, during the height...
Texas Q1 Surplus Lines Premium Up 20% Over 2020, Stamping Office Says
Apr 29 2021 // The Surplus Lines Stamping Office of Texas (SLTX) reported that the state has seen record-breaking premiums in the first quarter of 2021, with a total of $2 billion in premium representing a 20.1% increase over the same...
D&O Line Still on Losing Track Despite Big Rate Hikes: Fitch
Apr 29 2021 // Record premiums haven’t been enough to reverse U.S. directors and officers (D&O) insurers’ underwriting losses, and the sector will still lose money in the near term as a result, Fitch Ratings said. Premium...
Texas FAIR Plan Rate Increase Filings Approved
Apr 26 2021 // The Texas Department of Insurance (TDI) has approved the FAIR Plan’s rate changes. The changes resulted in overall statewide average rate increases for homeowners, dwelling, condominium and renters policies. On Jan....
P/C Insurers Returned $13B in Premiums Due to COVID-19 Reduced Exposures
Apr 21 2021 // U.S. property/casualty insurers returned nearly $13 billion in premiums to policyholders in 2020 to reflect reduced exposures from the COVID-19 pandemic. Auto insurers returned premium in the greatest numbers, though...
With Claims Rising, Cyber Insurers Need More Than Sizable Rate Increases: Fitch
Apr 20 2021 // Cyber insurance underwriters are reporting substantially higher claims losses in 2020 than in prior years and as a result face increasing profit pressure. insurers will have to achieve both significant premium rate...
North Carolina Dwelling Rates to Increase by 7.6%; Mobile Home Request in Dispute
Apr 19 2021 // The North Carolina Department of Insurance has ended its legal dispute with the North Carolina Rate Bureau on its proposed 18.7% dwelling insurance rate increase, averting a potentially costly administrative battle with...
P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best
Apr 19 2021 // The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile,...
SCOR Reports 4.3% Increase in Reinsurance Prices During April Renewals
Apr 19 2021 // French reinsurer SCOR said it benefited strongly from continued improvements in pricing and terms and conditions, during the April 1, 2021 reinsurance renewals – a continuation of trends already seen during the January...
