Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
AIG CEO Duperreault ‘Encouraged’ by Hardening Market, Plans Operational Overhaul
Aug 13 2019 // AIG President and CEO Brian Duperreault said that the evolving, hardening market is sustainable and dovetailing nicely with the insurer’s ongoing efforts to shed excessively risky business. He also announced that AIG...
Texas Windstorm Insurer: No Rate Hike for 2020
Aug 6 2019 // Texas’ provider of last resort for wind and hail insurance for Texas coastal properties won’t be raising its residential and commercial property rates next year. The Texas Windstorm Insurance Association (TWIA)...
Health Insurers Seek Average 2% Rate Hike for Arkansas Exchange
Aug 1 2019 // Arkansas officials say the four companies providing coverage through the state’s insurance exchange under the federal health care overhaul law are seeking an average rate increase of about 2% for next year. Insurance...
Report: Written Worker’s Comp Premium in California to Fall by $1B in 2019
Jul 31 2019 // Expect workers’ compensation insurance rates in California to continue to fall, with total written premium expected to drop by $1 billion or more for 2019 despite the positive impacts of continued economic growth, a...
Texas Windstorm Insurer: Rate Inadequacy Up Year Over Year
Jul 29 2019 // In advance of its Aug. 6 board meeting in Galveston, the insurer of last resort for wind and hail in counties along the Texas coast said it has determined its residential coverage rates are inadequate by 41.7 percent and...
Chubb Q2 Saw Net Income Dip, Premium Growth
Jul 25 2019 // Global insurer Chubb’s saw its net income dip slightly and its P/C combined ratio nudge higher during the 2019 second quarter, but price increases led to solid premium gains. “This quarter was about growth and...
With Commissioner’s OK, Wisconsin Workers’ Comp Rates to Fall by 8.8%
Jul 23 2019 // Wisconsin’s chief insurance regulator has approved an overall 8.84% decrease in workers’ compensation premium rates. The new rates approved by Commissioner of Insurance Mark Afable are effective Oct. 1, 2019,...
Report Shows California Workers’ Compensation Premiums Falling
Jul 22 2019 // Workers’ compensation insurance premiums in California are declining as continued rate decreases more than offset the impacts of continued economic growth, according to the Workers’ Compensation Insurance...
Deaths from Nevada Car Crashes Down in June from 2018 Rates
Jul 18 2019 // Fewer people died in car crashes on Nevada roads in June than they did a year earlier, according to state data. The Nevada Department of Public Safety reported 16 deaths from 16 crashes in June, which is almost half as...
Texas Surplus Lines Premium Up 13% Over Last Year
Jul 16 2019 // Surplus lines premium in Texas has increased to $3.48 billion at the 2019 mid-year point, up 13.4% over 2018’s mid-year total of $3.06 billion, according to data reported to the Surplus Lines Stamping Office of Texas...
Causey: More Time Needed to Review North Carolina Homeowners’ Rate Increase
Jul 16 2019 // North Carolina’s Insurance Commissioner has extended the hearing scheduled for the proposed statewide average 17.4% homeowners’ insurance rate increase by one month from Sept. 4, 2019, to Oct. 2, 2019, saying...
Harden Expands into South Florida; Taps Beller as Market Leader
Jul 16 2019 // Harden, an insurance, risk management and employee benefits firm in the Southeast, has formally expanded into the South Florida market with the opening of an office in Fort Lauderdale. The firm currently serves many...
Auto Insurance Rates Going Down in Louisiana
Jul 1 2019 // Two more carriers are planning to lower their auto insurance rates in Louisiana, the state’s insurance department reported in June. Both Progressive Security Insurance Co. and Louisiana Farm Bureau have filed to...
Florida’s Citizens Revises 2019 Rate Filing; Will Request 2.3% Statewide Rate Increase
Jun 20 2019 // Citizens Property Insurance Corporation’s Board of Governors has approved a revised 2019 rate proposal that the company said reflects recent legislative changes that targets the ongoing abuse of assignment of benefit...
P/C Direct Premium Written Up 4.2% in Q1: Demotech
Jun 17 2019 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2018, total DPW for all P/C insurers aggregately increased approximately 4% from 2017, an increase...
Commercial Insurance Prices Up Again in Q1; Auto, D&O Lead the Pack
Jun 17 2019 // Commercial insurance prices in the U.S. increased in the first quarter about 2%, according to insurance broker and advisor Willis Towers Watson. The company’s Commercial Lines Insurance Pricing Survey (CLIPS) survey...
Insurance Rates for Crude Oil Tankers to Jump After Gulf Attacks
Jun 14 2019 // Oil tanker owners are turning increasingly nervous about loading cargoes from the world’s largest export region for crude after the latest round of attacks on vessels. Both owners and the companies that charter their...
Progressive Approved for 2.2% Auto Insurance Rate Decrease in Louisiana
Jun 13 2019 // Louisiana Insurance Commissioner Jim Donelon has approved a filing by Progressive Security Insurance Co. for a 2.2% rate decrease on new and renewal auto insurance business in the state. The decreases will take effect in...
Direct Written Premium Fell in California Workers’ Comp System in 2018
Jun 3 2019 // Total direct written premium in the California workers’ compensation system fell for the second consecutive year in 2018, declining 3.8 percent to less than $12.3 billion as nine of the 10 largest insurer groups in...
Texas Windstorm Insurer Withdraws 10% Rate Increase Filing
Jun 3 2019 // By Stephanie K. Jones Texas’ property insurer of last resort for wind and hail along the Texas coast voted at a May 24, 2019, meeting of its board of directors to withdraw a 10% rate increase filed last year that was...
