Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Record Aviation Claims Driving Up Premiums
Oct 21 2014 // Insurers worldwide are going to have to pay up to a record $800 million to cover the damage done by attacks on airplanes this year, driving prices up and drawing rivals into the market. The hefty bill dwarfs the $60-$90...
P/C Direct Premium Written Up 5.2% in First-Half of 2014
Oct 20 2014 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2013, nearly $545 billion of DPW was reported, a record high for the industry. For 2013, total DPW...
DCRB Seeks Decrease in Del. WC Voluntary Loss Costs, Residual Market Rates
Oct 17 2014 // The Delaware Department of Insurance said it has received the Delaware Compensation Rating Bureau’s (DCRB) filing proposing a decrease in both the workers’ compensation voluntary market loss costs and the...
Florida Regulators Consider NCCI Request for 3.3% Rate Decrease
Oct 15 2014 // Florida’s workers’ compensation insurers rating agency says its request for a 3.3 decrease in rates reflects a stable market, although it cautioned that pending court cases could severely impact the...
Texas-Based Premium Finance Group to Be Sold to South Dakota’s MetaBank
Oct 15 2014 // Cecil Y. Ray Jr., chairman of AFS/IBEX and former chairman of The Rigg Group, has announced the sale of substantially all of the loan portfolio and related assets of Dallas-based AFS/IBEX Financial Services Inc. –...
NYIA: Many Renters Lack Renters Insurance Despite Premium Decreases
Oct 6 2014 // The New York Insurance Association (NYIA) says the percentage of renters buying renters insurance has been falling nationally in recent years even as premiums become more affordable. According to a 2014 Insurance...
Missouri Consumer Group Sues Over Health Insurance Rates
Oct 6 2014 // A Missouri consumer group announced that it has sued the U.S. Department of Health and Human Services in the latest effort to obtain information used to justify the rates consumers will pay for insurance on the federally...
Additional $1B Ohio BWC Rebate OK’d; Public Employer Rate Reduction Proposed
Oct 6 2014 // Ohio employers will receive another $1 billion rebate and workers will benefit from a major new investment in worker safety research and training, according to the Ohio Bureau of Workers’ Compensation (BWC). The...
Surplus Lines Rate Hikes to Slow As Competition Grows
Oct 6 2014 // Two insurance rating entities see slowing rate increases for the surplus lines segment in the coming months as competition grows. Moody’s Investors Service said that the U.S. excess and surplus lines sector is...
New Jersey Bill Seeks to Crack Down on Reverse Rate Evasion
Oct 3 2014 // The New Jersey Assembly passed a measure that would make reverse rate evasion an insurance fraud and provide for civil and criminal penalties. The bill, A 2281, passed the state’s Assembly on Monday and is pending in...
Surplus Lines Rate Hikes to Slow As Competition Grows
Sep 23 2014 // Two insurance rating entities see slowing rate increases for the surplus lines segment in the coming months as competition grows. Moody’s Investors Service said that the U.S. excess and surplus lines sector is...
Workers’ Compensation Premiums Increased By 5.1% in First Half of 2014
Sep 22 2014 // Demotech’s review of second quarter 2014 data, as recently reported by insurers to the National Association of Insurance Commissioners, shows that workers’ compensation insurers reported a 5.1 percent increase...
Homeowner Rate Hikes Go Unchallenged by Texas Commissioner
Sep 22 2014 // Texas’ insurance commissioner has allowed the three largest home insurers to impose significant rate hikes on many policyholders despite the objections of a state consumer advocate. Insurance Commissioner Julia...
Commercial Rates in Florida’s Citizens Going Up 3.3%
Sep 21 2014 // Rates for the almost 100,000 commercial property risks insured by Florida’s Citizens Property Insurance Corp. will rise an average 3.3 percent next February. The Florida Office of Insurance Regulation (OIR) has...
Homeowner Insurance Rate Hikes not Challenged by Texas Commissioner
Sep 15 2014 // The Texas insurance commissioner has allowed the three largest home insurers to impose significant rate hikes on many policyholders despite the objections of a state consumer advocate. Insurance Commissioner Julia...
Commercial Price Increase Slowdown Carried Into Q2 with Few Exceptions
Sep 9 2014 // Commercial insurance prices continued to moderate in the 2014 second quarter. This time, they inched up 3 percent in aggregate, versus a 4 percent increase in the first three months of this year, a new Towers Watson survey...
Florida Weighs 2.5% Workers’ Comp Rate Decrease
Sep 8 2014 // Florida workers’ compensation writers have recommended a 2.5 percent rate decrease for 2015. The Office of Insurance Regulation has received the filing by the National Council on Compensation Insurance (NCCI), which...
Everyone Likes a Hard Insurance Market, Right?
Sep 8 2014 // What’s the big deal with a hard property/casualty insurance market? Everyone likes one, said Art Davis, president of Colony Specialty, a member of the Argo Group. “You make a lot of money, have good...
Kentucky Employers’ Mutual Insurance to File for 5% Rate Reduction
Sep 5 2014 // Kentucky Employers’ Mutual Insurance (KEMI), the largest workers’ compensation insurer in Kentucky, announced that it plans to file for an overall rate reduction of 5 percent effective Jan. 1, 2015. KEMI said...
Oklahoma 2015 Health Insurance Exchange Rates Include Hikes, Decreases
Sep 5 2014 // Oklahomans shopping for individual health insurance policies through the federal exchange will be able to choose from six different companies offering multiple plans, the Oklahoma Insurance Department announced. Rate...
