Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
NCCI Proposes Average Workers’ Comp Rate Decrease of 2.5% in Florida
Aug 26 2014 // Florida’s Office of Insurance Regulation announced it received the 2015 Florida workers’ compensation rate filing by the National Council on Compensation Insurance (NCCI), which proposes a statewide average...
Willis Energy Market Review: Still Soft Market; OIL ups Occurence Limits
Aug 22 2014 // Willis Group Holdings August Energy Market Review (EMR) highlights the decision by Oil Insurance Limited (OIL) to increase its per occurrence limit from $300 million to $400 million and the event aggregation limit from...
Ping An Profit Rises 19% on Higher Bank Revenue, Premium Income
Aug 20 2014 // Ping An Insurance (Group) Co., China’s second-largest insurer, said first-half profit grew 19 percent as premium income climbed and banking revenue increased. Net income rose to 21.4 billion yuan ($3.5 billion), or a...
Young Agents Rate Flexibility, Career Growth Over Technology: Vertafore Survey
Aug 14 2014 // Technology is not an incentive when it comes to attracting and retaining millennials to the insurance industry but it can provide overall job satisfaction in terms of flexibility and career growth opportunities, according...
Everyone Likes a Hard Insurance Market, Right?
Aug 13 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...
ABI Says Reducing Whiplash Costs Key to Lower Auto Premiums
Aug 11 2014 // “Tackling the cost of whiplash claims is essential to ensure UK motorists continue to benefit from lower average motor insurance premiums,” The Association of British Insurers said in a bulletin. According to...
State Auto: Net Income Down, Written Premium Up for Q2 1014
Aug 5 2014 // State Auto Financial Corp. reported net income for the second quarter 2014 that was nearly 50 percent less than its net income for the same period in 2012, while net written premium increased in Q2 2014 compared with Q2...
Soft P/C Market Flattens Independent Agencies’ Organic Growth in Q2: Reagan Consulting
Aug 5 2014 // Independent insurance agents and brokers reported median organic growth of 5.8 percent for the second quarter of 2014, a weakening from 6.2 percent for the first quarter of 2014 and 6.9 percent for the second quarter of...
Illinois Workers’ Comp Rate Set to Fall in 2015
Aug 1 2014 // Illinois Gov. Pat Quinn says the state’s workers’ compensation insurance rates will drop 5.5 percent next year. Quinn announced the cut in rates is being recommended by the National Council on Compensation...
Mass. Auto Insurance Rates Climb Back Up Despite Deregulation
Jul 29 2014 // Auto insurance rates that fell sharply after deregulation in Massachusetts are climbing again. The Boston Globe reports that five years after Massachusetts began to allow insurers to set their own rates, the average...
S&P Report Finds Volume Increases as Prices Drop in the ILS Market
Jul 29 2014 // Standard & Poor’s Ratings Services will publish its annual “Global Reinsurance Highlights” publication to coincide with the 2014 Reinsurance Rendez-Vous in September. S&P said the report would...
Q1 P/C Direct Premium Written Up 3.5 Percent
Jul 21 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...
Despite Increases Ohio Auto, Home Insurance Rates Still Among the Lowest
Jul 21 2014 // Lieutenant Governor and Department of Insurance Director Mary Taylor says Ohio’s average auto and homeowner’s rate remain among the lowest in the country despite increases taken in the past two years. In 2013,...
Despite Increases Ohio Auto, Home Insurance Rates Remain Low
Jul 10 2014 // Lieutenant Governor and Department of Insurance Director Mary Taylor says Ohio’s average auto and homeowners insurance rates remain among the lowest in the country despite recent increases. In 2013, the average rate...
Large Michigan Health Insurers Seeking Big Rate Increases in 2015
Jun 27 2014 // 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...
Mississippi County’s Fire Insurance Rates Could Fall 45%
Jun 25 2014 // Home and business owners served by the Beaver Lake and Rock Hill volunteer fire departments in Lamar County, Mississippi, could see their fire insurance premium payments fall as much as 35 percent to 45 percent. The...
No Flood Insurance Rate Hike for Most Minot, North Dakota Residents
Jun 24 2014 // Officials say only a small number of Minot, N.D., residents have been forced to pay higher premiums for flood insurance, despite a devastating flood three years ago that wiped out most of the city. Multiple claims on a...
Maine Saw Largest Crime Rate Decrease in 20 Years in 2013
Jun 19 2014 // Crime in Maine dropped 9.1 percent last year, a steep drop from the previous year and the biggest decline in 20 years, Maine Department of Public Safety Commissioner John Morris said Tuesday. The commissioner, joined by...
Mass. Division of Insurance Rejects FAIR Plan Rate Increase
Jun 16 2014 // Mass. Insurance commisioner Joseph MurphyMassachusetts Commissioner of Insurance Joseph G. Murphy announced on June 9 his decision rejecting the Massachusetts Property Insurance Underwriting Association’s...
Commercial Lines Prices Up Only 4% in Q1: Towers Watson
Jun 10 2014 // Commercial insurance prices increased by 4 percent in aggregate during the first quarter of 2014, marking the lowest level of growth since fourth-quarter 2011, according to a new survey by Towers Watson. The increase is a...
