Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
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...
Massachusetts DOI Rejects FAIR Plan Rate Increase
Jun 9 2014 // Massachusetts Commissioner of Insurance Joseph G. Murphy announced Monday his decision rejecting the Massachusetts Property Insurance Underwriting Association’s (“FAIR Plan”) request to increase its...
ING’s $2.7 Billion IPO to Test Buyer Appetite as Prices Fall
May 29 2014 // ING Groep NV will try to execute Europe’s biggest initial public offering this year even as investor demand declines and competing share sales increase. The largest Dutch financial-services company is seeking to...
Falling Reinsurance Rates by Cat Bond Competition Eroding Primary Prices: Zurich
May 29 2014 // A slide in reinsurance rates under competition from catastrophe bonds is starting to weigh on prices that companies like Zurich Insurance Group AG charge their own customers. The decline in the cost of reinsurance is...
Private Employer Workers’ Comp Rates to Fall Again in Ohio
May 22 2014 // Ohio private employers will again benefit from lower overall workers’ compensation base-rates with a 6.3 percent reduction that will take effect July 1, the Ohio Bureau of Workers’ Compensation (BWC)...
Management Liability: Hard Market or Sea Change?
May 19 2014 // For years, directors and officers, and entity coverage for privately held firms was one of the best deals going, with broad coverage, cheap pricing and low retentions. Over the past several years, market capacity...
Nationwide Reports P/C Premium Up 6% in Q1; Weather Lowers P/C Profit
May 12 2014 // Nationwide reported total operating revenue of $6.1 billion for the first three months of 2014, up 5 percent over the same period last year and steady compared to fourth quarter 2013. First quarter operating earnings were...
Strong Euro Decreases Munich Re’s Q1 Net Profit, Premium Income
May 8 2014 // The world’s largest reinsurer, Munich Re, reported an almost 5 percent drop in net profit in the first quarter, as a strong euro dragged down premium income. “Despite negative currency effects, we almost...
Group Urges N.Y. to Review Auto Insurance Rate Factors
Apr 21 2014 // A consumer advocacy group is urging New York regulators and legislators to undertake a thorough review of rate-making practices by auto insurers in New York. The New York Public Interest Research Group (NYPIRG) said that...
