Best Read Pricing Trends Headlines
Headlines from our Pricing Trends Topic Page with the most time spent reading.
#1 Policygenius Finds Average Home Insurance Prices Up 21%
Sep 14 2023 // Online insurance marketplace Policygenius has found that home insurance premiums at renewal increased 21% on average from May 2022 to May 2023. The state that saw the highest average increase for homeowners insurance...
#2 California Regulators Propose Higher Rates for PG&E Customers to Reduce Wildfire Risk
Sep 15 2023 // Power bills for about 16 million people in Northern California will likely increase after state regulators released two rate proposals for one of the nation`s largest utilities. The California Public Utilities Commission...
#3 Woodruff Sawyer: Softer D&O Market Still Offers Concerns for Underwriters
Sep 19 2023 // While concerns about a “tsunami of pandemic-related litigation” never quite materialized, according to Woodruff Sawyer in its latest D&O Looking Ahead Guide for 2023, those fears have been replaced with a...
#4 Veteran Insurance Pros Offer Strategies for Navigating a Hard Market
Sep 4 2023 // Everyone in the insurance industry knows that 2023 has become one of the hardest markets in decades, across the board. In a panel discussion — No One Said it Would be Easy. Navigating the Current Hard Market —...
#5 Texas Comptroller: State Revenue Driven by Increasing Insurance Premiums
Sep 29 2023 // When Texas lawmakers meet next month for a special session on funding public education, they will have more money available to them to spend than they anticipated when they passed the state’s $321.3 billion budget...
#6 Hard Market Pressure: Surplus Lines Lifting Heavy Load in Turbulent Times
Sep 4 2023 // As the longest hard market in memory refuses to fade, standard property/casualty carriers are not only continuing to raise prices but also reimagining their books by shedding risks they no longer want. It’s affecting...
#7 Rate Hikes Not Bringing Profit to US Auto Insurers: Fitch
Aug 18 2023 // Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market...
#8 Hard Market Game Refuses to End: Arch Capital CEO
Aug 1 2023 // Drawing analogies to an epic tennis match and the hands of a clock, the leader of Bermuda-based Arch Capital declared the current hard market one of the longest the P/C industry has ever experienced. “This is the...
#9 Florida OIR Tells Citizens to Rethink Maximum Rate Increase on HO Policies
Aug 22 2023 // When Citizens Property Insurance Corp. in June filed for the maximum rate increases allowed by its statutory glidepath, many in the Florida insurance industry saw it as a good thing, needed to help steer policyholders back...
#10 Higher Reserving Uncertainties Could Sustain Hard Market Conditions: Report
Jul 17 2023 // Systemic shocks related to the recent pandemic, the war in Ukraine, natural catastrophe losses and elevated inflation have raised questions about reserve adequacy for property/casualty insurers, according to a Swiss Re...
#11 New Jersey Workers’ Compensation Rates to Fall 3.9% for 2024
Nov 28 2023 // New Jersey’s insurance regulator has approved a 3.9% reduction in workers’ compensation and employer liability rates starting January 1, 2024. The approved statewide rate change is based on the latest financial...
#12 Auto Claims Inflation Speeds Ahead of Premium Increases
Jul 24 2023 // Insurance claims inflation has risen faster than the underlying consumer price index (CPI), outpacing auto insurance premium increases, according to a new study, Auto Insurance: The Uncertain Road Ahead, by the American...
#13 War Risk Insurance Rates Edge Up After Surge in Red Sea Ship Attacks
Dec 5 2023 // War risk insurance premiums edged up for Red Sea voyages after three vessels were attacked in the area on Sunday and fears grow over worsening perils for commercial shipping, maritime and insurance sources said on...
#14 Despite Hard Market, P/C Combined Ratio Forecast Near 104 for 2023
Nov 6 2023 // Losses resulting from severe convective storms are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting projections by actuaries at the Insurance...
#15 Catalytic Converter Thefts Down by Half as Precious Metal Prices Drop
Nov 8 2023 // The number of insurance claims filed for catalytic converter thefts plummeted this year after rising dramatically in 2021 and 2022. National Insurance Crime Bureau data shows that as of Sept. 30, the number of claimed...
#16 Car Premiums to Rise Again as British Insurers Feel the Heat
Aug 30 2023 // Motorists in Britain should brace for another year of steep insurance rises as providers confront cost pressures, industry figures have warned. Admiral Group Plc will continue increasing motor insurance prices and expects...
#17 What’s to Come in 2024: Hard Market, AI Expansion, More Catastrophes, Network Consolidation
Feb 5 2024 // No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk. For this special report, Insurance Journal asked industry thought leaders their predictions for the...
#18 Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers
Apr 19 2024 // With its personal lines business benefiting from the impact of rate increases earning into the book, and the commercial lines insurance premium changes staying in double-digits, Travelers reported $1.1 billion in net...
#19 Prepare for the Soft Market: Why You Need to Set Performance Metrics Now
Jan 11 2024 // Executive Summary: Companies need to enact long-term performance measurement and strategies for underwriting discipline across the underwriting cycle because evidence suggests underwriters will not impose it themselves,...
#20 Hard Market Prices Continue
Feb 5 2024 // While not news to independent agents, commercial lines renewal rates rose again in the fourth quarter of 2023 — another sign that the hard market is here to stay — at least through 2024. According to the Ivans...
