Insurance Pricing News

Iowa to Allow Broad Public Access to Wellmark Rate Increase Hearing

Iowa’s Insurance Commissioner Susan Voss announced that she has made arrangements for unprecedented access to a Jan. 6, 2011, hearing that will be held at the Iowa Insurance Division, 330 Maple Street, Des Moines, Iowa. The topic of the hearing …

Idaho Workers’ Comp Insurance Rates To Increase 3.7%

Idaho workers’ compensation insurance rates will be increasing an average of 3.7 percent in 2011, according to the state Department of Insurance. The average rate increase is based on National Council on Compensation Insurance recommendations. The state said rates have …

Allstate Raises Homeowner Insurance Rates

Allstate Insurance has notified the Texas Department of Insurance that it will increase homeowner rates — some by almost 10 percent. About 450,000 homeowners covered by Allstate Texas Lloyds will see a rate increase of 5.4 percent, effective Jan. 20. …

Missouri Recommends 11% Drop in Workers’ Comp Insurance Rates

After reviewing statewide data for insurance claims paid by employers for injured workers in 2010, the Missouri Department of Insurance is recommending a 11.1 percent decrease in workers’ compensation rates for 2011. The department recommends insurers selling workers’ comp decrease …

First Home Seeks 39% Rate Hike in Florida

Florida officials will hold a hearing today on a proposed statewide average home insurance rate hike of 39.3 rate increase for First Home Insurance Co., a Florida domiciled insurance company based in Maitland, Florida. First Home’s statewide average rate level …

Farmers Insurance Files for Homeowners Rate Hike in Texas

Farmers Insurance has filed for a 3.9 percent rate increase for homeowners insurance coverage in Texas. The Dallas Morning News reports that Farmers’ filing with the Texas Department of Insurance will affect about half the company’s customers in Texas. Farmers’ …

Farmers Insurance Files for Homeowners Rate Hike in Texas

Farmers Insurance has filed for a 3.9 percent rate increase for homeowners policies in Texas. The Dallas Morning News reports that Farmers’ filing with the Texas Department of Insurance will affect about half the company’s customers in Texas. Farmers’ spokesman …

Blue Cross Rate Increase Temporarily Blocked in Michigan

An Ingham County Circuit judge has stopped Blue Cross Blue Shield of Michigan from implementing rate increases as high as 66 percent for some seniors. Tuesday’s preliminary injunction also requires a public meeting be held. The Michigan attorney general’s office …

Allstate to Fight Denial of Mississippi Rate Hike

Allstate Property and Casualty Insurance Co. wants a public hearing on the Mississippi Insurance Commissioner Mike Chaney’s denial of its request for a 44 percent home insurance rate hike. The company also wants someone other than Chaney to conduct the …

Insurance Pricing Cycle Due for a Change, Berkley CEO Says

It’s time for a change in the property/casualty insurance pricing cycle, says William R. Berkley, founder, chairman and CEO of the W.R. Berkley Corp., and he’s “optimistic” that the cycle will turn sooner rather than later. Speaking at NAPSLO’s annual …