Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Florida PIP Report Shows Reduction in Rates and Fraud
Jan 26 2015 // Florida’s attempt to lower the cost of personal injury protection (PIP) automobile coverage is progressing as insurers’ rates have declined due in part to lower losses and fewer fraudulent claims. The Florida...
Ohio BWC Proposes Private Employer Workers’ Comp Rate Reduction
Jan 25 2015 // Ohio Bureau of Workers’ Compensation (BWC) is proposing to reduce overall premium rate levels for private employers beginning July 1, 2015. The 10.8 percent reduction would result in a decrease in projected annual...
Allianz Re CEO Ahmed Says Rate Reductions May Abate in 2015
Jan 21 2015 // Rates charged by reinsurers, which have been falling for most of the past decade, may decline more slowly this year, the head of Allianz SE’s reinsurance division said. “Our assessments show that rates in some...
Private Auto Premiums See Largest Q3 Growth in 10 Years: SNL
Jan 12 2015 // Private auto insurance industry direct premiums written rose 5.13 percent in the third quarter of 2014, the largest third-quarter year-over-year growth in the past 10 years, according to an analysis by SNL Financial. The...
Florida PIP Report Shows Reduction in Rates and Fraud
Jan 9 2015 // Florida’s attempt to lower the cost of personal injury protection (PIP) automobile coverage is making progress as insurers’ rates have declined due in part to lower losses and fewer fraudulent claims. The...
Falling Grain Prices, Record Cattle Prices Mark 2014 For Kansas
Dec 31 2014 // Farmers and ranchers across Kansas are wrapping up the 2014 growing season, marked by rapidly changing fortunes that were buffeted by weather and markets. It began with a meager winter wheat harvest before late spring...
North Carolina Denies Homeowners Insurance Rate Hike
Dec 21 2014 // North Carolina insurance companies that wanted to raise the cost of homeowners coverage by an average of roughly 25 percent were told Friday the state’s regulator is instead approving a zero overall change. Insurance...
Private Auto Premiums See Largest Q3 Growth in 10 Years: SNL
Dec 19 2014 // Private auto insurance industry direct premiums written rose 5.13 percent in the third quarter of 2014, the largest third-quarter year-over-year growth in the past 10 years, according to an analysis by SNL Financial. The...
Missouri DOI Recommends Workers’ Comp Rate Decrease
Dec 15 2014 // The Missouri Department of Insurance is recommending a 4.4 percent decrease in workers’ compensation insurance loss costs for 2015. The key driver of the decrease is the favorable loss experience in 2012, according...
Willis Sees No Impact on Coverage from UK’s Pool Re Rate Increases
Dec 15 2014 // The announcement by the UK government that it planned to raise premium rates for its ultimate backup reinsurer Pool Re initially raised fears that coverage through the system could be diminished. Willis noted, however,...
P/C Direct Premium Written Up 4.6 Percent
Dec 15 2014 // Direct premium written (DPW) for property/casualty insurance companies continues to increase gradually. At year-end 2013, nearly $545 billion of DPW was reported, a record-high for the industry. For 2013, total DPW for all...
XL Group Appoints Pitt to Head New Global Data, Analytics, Pricing Unit
Dec 2 2014 // XL Group’s global Insurance operation announced the appointment of Tim Pitt to the newly created role of Head of Data, Analytics and Pricing to help drive XL Group’s data, analytics and pricing strategies and...
New Jersey Approves 2.9% Increase in Workers’ Comp Rates, Rating Values
Nov 18 2014 // New Jersey’s Compensation Rating and Inspection Bureau announced that the commissioner of banking and insurance has approved a 2.9 percent increase in rates and rating values applicable to New Jersey workers’...
Catlin Group Interim Report Shows 11% Hike in Gross Premiums Written
Nov 13 2014 // Catlin Group Limited, the Bermuda-based specialty property & casualty insurer and reinsurer, has issued its interim management statement for the nine-month period ended September 30, 2014, which shows premiums reported...
Florida Rejects NCCI’s 3.3% Rate Decrease, Calls for Larger Cut
Nov 6 2014 // Florida Insurance Commissioner Kevin McCarty issued an order on Wednesday notifying the National Council on Compensation Insurance (NCCI) that its proposed 3.3 percent overall decrease in workers’ compensation rates...
Commercial Rates Continue on Slow Slide; Personal Lines Rates Moderate: Survey
Nov 5 2014 // The composite rate for U.S. commercial insurance was plus 1 percent in October 2014 while the composite rate for U.S. personal lines was plus 3 percent for the month, according to MarketScout’s monthly analysis of...
Ohio Workers’ Comp Bureau: Rates for Local Governments Falling
Nov 3 2014 // Ohio public employers can look forward an average 9.1 percent reduction in workers’ compensation rates for local governments, the Ohio Bureau of Workers’ Compensation (BWC) announced. The new rates cover 3,800...
Idahoans to See Slight Reduction in Workers’ Comp Rates in 2015
Oct 31 2014 // The Idaho Department of Insurance this week announced Idaho’s overall workers’ compensation premium rates will be reduced by an average of 0.2 percent for 2015. “This slight rate decrease is an indicator...
Ohio Workers’ Comp Bureau: Rates for Local Governments Falling
Oct 24 2014 // Ohio public employers applauded an average 9.1 percent reduction in workers’ compensation rates for local governments that was approved by the Ohio Bureau of Workers’ Compensation (BWC) Board of Directors. The...
North Carolina Opens Hearing on Homeowners Rate Hike
Oct 22 2014 // North Carolina’s insurance commissioner on Monday began deciding whether to allow homeowners’ coverage costs to rise by as much as 35 percent even as some insurers demand even higher rates in agreements with...
