Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Seller’s Market to Deliver Biggest Commercial Rate Hikes in Years
Dec 2 2019 // North American commercial insurance buyers will face sizable price increases in 2020, across most lines of insurance, according to insurance broker Willis Towers Watson’s 2020 Insurance Marketplace Realities. While...
5% Rate Hike Recommended for Texas Windstorm Insurer
Dec 2 2019 // When the board of directors of Texas’ property insurer of last resort for wind and hail along the Texas coast meets in December, its members will be considering a recommendation by the organization’s actuarial...
Statewide Overall Decrease of 7.5% Approved for Florida Workers’ Comp Rates
Nov 21 2019 // Florida Insurance Commissioner David Altmaier has issued a final order granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall decrease of 7.5% for Florida workers’...
Texas Windstorm Insurer’s Actuarial Committee Recommends 5% Rate Hike
Nov 20 2019 // When the board of directors of Texas’ property insurer of last resort for wind and hail along the Texas coast meets in December, its members will be considering a 5% rate increase recommended by the...
Rate Increases OK’d for Texas Automobile Insurance Plan Association
Nov 18 2019 // 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...
As Texas Windstorm Insurer Mulls Rates, Policyholders, Lawmakers Strongly Oppose Hikes
Nov 15 2019 // 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...
California Insurance Commissioner OKs Workers’ Comp Pure Premium Reduction
Nov 14 2019 // California Insurance Commissioner Ricardo Lara has adopted and issued a revised average advisory pure premium rate, lowering the benchmark to $1.52 per $100 of payroll for workers’ compensation insurance, effective...
Insurance Premiums to Grow 3% Despite Economic Slowdown: Swiss Re
Nov 14 2019 // Global insurance premiums will grow 3 percent on average over the next two years even with an emerging global economic slowdown, Swiss Re said in its latest sigma report. Rising lost costs will fuel the moderate but steady...
Rate Increases Approved for Texas Auto Insurer for Residual Market
Nov 12 2019 // 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...
Workers’ Comp Rate Decrease Approved for Louisiana
Nov 8 2019 // A filing by the National Council on Compensation Insurance (NCCI) that would reduce workers’ compensation insurance rates in Louisiana by 8.4% next year has been approved by Louisiana Insurance Commissioner...
Agency E&O: Risk Rises Along with Rates, Cats and Customer Switching
Nov 4 2019 // Agency errors and omissions (E&O) coverage is likely the most important insurance policy an agency purchases. As customer demands rise to an all-time high, having the right E&O coverage and ensuring best practices...
Regulator Orders Decrease to Proposed Fla. Workers’ Comp Rates
Nov 4 2019 // Florida businesses can expect an even greater decrease in workers’ compensation insurance next year, thanks to an order by the state regulator for a further decrease to the recent rate filing proposed by the National...
Regulator Orders Further Decrease to Proposed Florida Workers’ Comp Rates
Oct 25 2019 // Florida businesses can expect an even greater decrease in workers’ compensation insurance next year, thanks to an order by the state regulator for a further decrease to the recent rate filing proposed by the National...
Texas Surplus Lines Premium Up Again
Oct 21 2019 // Texas surplus lines premium reported through the first three quarters of 2019 reached $5.35 billion, a 16.15% increase over the same period in 2018, according to the Surplus Line Stamping Office of Texas...
Workers’ Compensation Rates in Delaware Decrease for Third Year in a Row
Oct 15 2019 // Delaware is set to see a decrease in workers’ compensation insurance rates for the third year in a row, effective December 1, 2019. “I am delighted to approve a decrease in workers’ compensation rates in...
London Company Market Premiums Rise by 8.1% in 2018 to £28.4B ($34.7B)
Oct 10 2019 // Gross written premiums written by the London company market have increased by 8.1% to £28.437 billion ($34.7 billion) in 2018, according to a report published by the International Underwriting Association (IUA) Gross...
Workers’ Compensation Rates to Decrease in Idaho for 2020
Oct 7 2019 // The Idaho Department of Insurance has approved a proposal for a 6.2 percent overall rate decrease to Idaho workers’ compensation insurance effective Jan. 1, 2020. The proposed rate change was recommended by the...
U.K. Personal Lines Insurers May Face Curbs on Price Hikes Slapped on Renewal Policies
Oct 7 2019 // U.K. home and car insurers could be stopped from jacking up prices when customers’ policies come up for renewal as the country’s financial-markets watchdog clamps down on an industry that’s not giving a...
North Carolina Homeowners, Mobile Home Rates Going Up
Oct 7 2019 // The North Carolina Department of Insurance and the North Carolina Rate Bureau have settled a legal dispute over a proposed premium increase for homeowners insurance rates, according to a statement from NCDOI. NCDOI has...
Workers’ Compensation Premiums Up 2.2% in First Half of 2019
Oct 7 2019 // In the aggregate, workers’ compensation insurers reported a modest increase in direct written premiums in the U.S. for the first six months of 2019 versus the same period 2018, up 2.2%. However, the 25 carriers with...
