rate increases News

Florida Consumer Chief Backs Double-Digit Hikes for Allstate

Florida’s consumer advocate says Allstate’s two Florida home insurers are among the state’s best run and deserve double-digit rate increases along the lines they have requested. The Allstate units, Castle Key Insurance Co. and Castle Key Indemnity Co., which insure …

Amlin Updates Cat Loss Estimates; Reports Increase in Reinsurance Rates

UK and Lloyd’s insurer Amlin plc held a presentation for analysts today focused on updating its catastrophe estimates. Amlin estimated that net claims from the two major U.S. tornadoes during April and May 2011 were approximately $50 million. It also …

First Community Seeks 23% Florida Homeowners Insurance Rate Hike

A group of Florida homeowners could see a double-digit increase in their property premiums if regulators go along with their insurer’s rate request. Florida regulators are holding a public hearing today to consider the First Community Insurance Co.’s request that …

Architects, Engineers Liability Rates to Go Up: Report

Rates for architects and engineers professional liability insurance, which have been stable, are expected to go up this year, a new study reports. A number of leading insurance companies offering this coverage expect to raise premium rates in 2011 up …