Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Planning, the Pandemic and Price Increases
Mar 23 2022 // This post is part of a series sponsored by Old Republic Surety. Here’s valuable advice you can share with your construction clients, particularly those who require performance bonds. Although this article was written...
Arizona Auto Insurance Rates Rising on Heels of COVID
Mar 22 2022 // As if spiraling gas prices weren’t enough, motorists across Arizona and the nation are paying more for auto insurance as repair costs and more crowded roads push premium rates higher. After giving customers premium...
Inflation Outpacing Premium Increases for Auto and Homeowners Lines
Mar 21 2022 // US Insurers — already hammered by extraordinary losses caused by natural disasters — are failing to raise premiums at a pace that matches the inflation rate, according to the American Property Casualty...
More Price Increases for US Commercial Insurance in Q4 2021: WTW
Mar 21 2022 // U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by carriers was...
Arkansas Workers’ Comp Insurance Rates to Decrease in 2022
Mar 14 2022 // Arkansas Insurance Commissioner Alan McClain announced on March 10 that Arkansas businesses could see another rate decrease in workers’ compensation insurance in 2022. The Arkansas Insurance Department (AID) approved...
APCIA: Inflation Outpacing Premium Increases for Auto and Homeowners Lines
Mar 8 2022 // US Insurers — already hammered by extraordinary losses caused by natural disasters — are also failing to raise premiums at a pace that matches an historic inflation rate, the American Property Casualty Insurance...
More Price Increases for U.S. Commercial Insurance in Q4 2021: WTW
Mar 7 2022 // U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by carriers was...
Florida Keys School Board Surprised by $400,000 Increase in Insurance Premiums
Mar 3 2022 // Florida homeowners aren’t the only ones feeling the pinch from sharply rising insurance premiums. School board members in the Florida Keys were taken aback this week when they were told that property insurance...
D&O Loss Ratios Unchanged by Rate Hikes; Supply Disruption to Fuel Suits
Mar 2 2022 // Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported Monday, citing the impact of social inflation on rising claims...
BP Seeks to Appeal Kansas Town’s Lawsuit Over 2021 Gas Price Hike
Mar 2 2022 // Energy giant BP is seeking to appeal a decision that allowed a small Kansas town’s lawsuit over soaring natural gas prices in February 2021 to proceed. BP, formerly known as British Petroleum, filed two documents...
SCOR Reports 19% Premium Growth in January Renewals, Average Price Hikes of 4.9%
Feb 8 2022 // SCOR reported 19.0% premium growth during the January property/casualty (P/C) reinsurance renewals and an overall average P/C price increase of 4.9%. SCOR said the 19% premium growth figure includes a large structured...
Loss Costs Outpace Increase in Premiums for U.S. P/C Industry Through Q3
Feb 7 2022 // Direct-premium production for the U.S. P/C industry through the third quarter 2021 improved as insurers increased rates, but adverse trends in loss costs for many lines of business continue to dampen profitability. Through...
U.S. Surplus Lines Premium Up 22% in 2021
Feb 7 2022 // Surplus lines premium increased 22% and transactions rebounded almost 6.6% over their 2020 totals in the 15 states with designated surplus lines’ stamping offices. The increases represented record levels of premium...
Kemper Eyes Rate Hikes, Agency Cancellations to Regain Footing After Q4 Fall
Feb 3 2022 // Kemper Corp. said it is taking rating and other actions, including canceling some agents, as it seeks to recover from inflation-riddled fourth quarter financial results. Kemper Corp. reported a net loss of $105.8 million...
U.S. Surplus Lines Premium Up 22% in 2021
Jan 26 2022 // Surplus lines premium increased 22% and transactions rebounded almost 6.6% over their 2020 totals in the 15 states with designated surplus lines stamping offices. The increases represented record levels of premium ($51...
Loss Costs Outpace Increase in Premiums for U.S. P/C Industry Through Q3
Jan 25 2022 // Direct-premium production for the U.S. P/C industry through the third quarter 2021 improved as insurers increased rates, but adverse trends in loss costs for many lines of business continue to dampen profitability. Through...
Despite Mitigation, Cyber Attacks, Rate Hikes to Continue in 2022
Jan 24 2022 // As dramatic as escalating ransomware attacks and rapidly climbing cyber insurance rates have been in 2021, both trends will continue to be a nuisance in 2022, according to an expert from Fitch Ratings. “It is...
Florida OIR To Hold Hearings Friday on Big Rate Increases for Three Carriers
Jan 20 2022 // Florida regulators will hold hearings Friday, Jan. 21, on another round of hefty rate hikes requested by property insurers facing losses in the state’s distressed property insurance market. Southern Fidelity...
Connecticut Approves 14.1% Workers’ Compensation Pure Premium Reduction
Jan 13 2022 // The Connecticut Insurance Department has approved a filing with decreases of 14.1% to workers’ compensation pure premium lost costs, and an 8.2% reduction in assigned risk rates. The decreases, effective January 1,...
Many Re/Insurance Buyers Are ‘Frustrated’ With Multiple Years of Price Rises
Jan 5 2022 // Frustration is setting in for commercial insurance buyers subjected to multiple years of price rises, especially those that have improved their risk profiles by de-risking and elevating risk management, according to a...
