All the headlines from our Pricing Trends Topic Page, ordered by recency.
Jun 15 2023 // Allstate Corp. today released estimated catastrophe losses for the month of May of $885 million or $699 million, after-tax.There were a dozen events in May causing $893 million in catastrophe losses, Allstate said, but...
Jun 14 2023 // Commercial property insurance, with double-digit first quarter price increases, led other lines of businesses tracked by WTW’s Commercial Lines Pricing Survey (CLIPS).CLIPS found the aggregate price change for U.S....
Jun 14 2023 // US cyber insurance premiums surged 50% in 2022 as increased ransomware attacks and online commerce drove demand for coverage.Premiums collected from policies written by insurers reached $7.2 billion in 2022 and tripled in...
Jun 13 2023 // Canada’s worst-ever spring wildfire season has forced its forestry industry to shutter sawmills, driving up lumber prices and setting production back for months just as housing construction has slowed due to higher...
Jun 13 2023 // This year will mark the fourth year of a hardening market for commercial lines underwriting cycle, according to the latest US Commercial Lines Market Update released by Fitch Ratings.The Council of Insurance Agents &...
Jun 7 2023 // In recent weeks, executives of brokers and carriers have been delivering mixed messages about conditions in the commercial insurance market.“The long curve, the larger trend, is bending in a positive direction for...
Jun 6 2023 // The Florida Office of Insurance Regulation will hold a rate hearing Thursday, June 8, on Citizens Property Insurance Corporation’s proposed 12.5% average increase for homeowners and larger increases for other types...
Jun 5 2023 // Claim severity for bodily injury and property damage increased by 35% since 2019, while collision claim severity has jumped 40%, LexisNexis Risk Solutions says in a new report.The data broker’s 2023 U.S. Auto...
Jun 5 2023 // Commercial property premiums increased more in the first quarter of 2023 than they have in more than 20 years as the first three months of the year marked the 22nd straight quarter of overall premium increases, at 8.8%,...
Jun 2 2023 // The regulation of property/casualty insurance in California has been an epic failure—look no further than the state of the market for personal automobile and homeowners insurance.California Insurance Commissioner Ricardo...
May 25 2023 // Insurance pricing is cyclical. When loss ratios are sustainably higher, over time prices rise in response, creating a hard market. The last hard market in cyber was in 2021 when an onslaught of ransomware and high-profile...
May 22 2023 // Saving money is the primary focus of consumers searching for auto insurance, according to the J.D. Power 2023 U.S. Insurance Shopping Study. Now in its 17th year, the report highlights the increasing focus on cost as...
May 22 2023 // Direct premium written through the delegated underwriting authority enterprises (DUAE) market in the United States continued its significant growth rate in 2022, increasing by 13.8% to $67.6 billion, according to a new...
May 22 2023 // The reported demise of the independent insurance agency as a sales and distribution channel has been greatly exaggerated. Over the course of a decade or more of predictions about the growth of the direct-to-consumer...
May 18 2023 // Commercial property premiums increased more in the first quarter than they have in more than 20 years as the first three months of the year marked the 22nd straight quarter of overall premium increases, at 8.8%, according...
May 18 2023 // North Carolina’s insurance commissioner has negotiated a 15% average statewide increase in rates for mobile home insurance policies, a reduction from the hefty hike that the state’s rate bureau had...
May 12 2023 // Claim severity for bodily injury and property damage increased by 35% since 2019, while collision claim severity has jumped 40%, LexisNexis Risk Solutions says in a new report.The data broker’s 2023 U.S. Auto...
May 8 2023 // In a “deliberate and modest fashion,” the composite rate for commercial property/casualty lines increased 5% during the first quarter 2023, according to MarketScout.The Dallas-based distribution and...
May 8 2023 // Cybercrime is up, properties are underinsured, and the management liability market is softening.These are a few of the predictions and results revealed in the Risk Strategies 2023 State of the Market report, which examines...
May 3 2023 // Direct premium written through the delegated underwriting authority enterprises (DUAE) market in the United States continued its significant growth rate in 2022, increasing by 13.8 percent to $67.6 billion, according to a...