Latest Pricing Trends Headlines

All the headlines from our Pricing Trends Topic Page, ordered by recency.

RATE DECREASE GRANTED

Nov 21 2005 // The West Vir-ginia Mutual Insu-rance Company has been granted a 5 percent rate increase according to Insurance Commissioner Jane L. Cline.West Virginia Mutual filed for the rate decrease with the Offices of the Insurance...

Calif. Commissioner Calls for 15.3 Percent Workers’ Comp Rate Decrease

Nov 21 2005 // California Insurance Commissioner John Garamendi has recommended a 15.3 percent decrease in the state’s workers’ compensation pure premium rates by winter.In announcing the move, the Commis-sioner also...

Calif. Commissioner Calls for 15.3 Percent Workers’ Comp Rate Decrease

Nov 20 2005 // California Insurance Commissioner John Garamendi has recommended a 15.3 percent decrease in the state’s workers’ compensation pure premium rates by winter.In announcing the move, the Commis-sioner also...

No Workers’ Comp Premium Increases Scheduled in Washington

Nov 18 2005 // Washington’s Department of Labor and Industries (L&I) has announced there will be no general increase in workers’ compensation premiums for 2006.In late August, the agency proposed a 3.8 percent increase....

IFSL Report Notes 15% Decline in London Market Premiums in 2004

Nov 17 2005 // A report from International Financial Services, London (IFSL) notes that gross premiums on the London Market fell 15 percent in 2004 to £21.7 billion ($37.3 billion)According to a new edition of IFSL’s Insurance...

Conn. to Reconsider ProSelect 12% Med-Mal Rate Hike Rejected by Department

Nov 16 2005 // Connecticut Insurance Commissioner Susan Cogswell will conduct a public hearing on Nov. 29 to reconsider her department’s disapproval of ProSelect’s Medical Malpractice, Physicians and Surgeons Professional...

Colo. Comp Premium to Decrease

Nov 15 2005 // Beginning Jan. 1, 2006, the standard premium for workers’ compensation in Colorado will decrease an average of 1 percent, as a result of an order signed by Colorado Insurance Commissioner David Rivera.Although...

California Commissioner Calls for 15.3 Percent Workers’ Comp Rate Decrease

Nov 11 2005 // California Insurance Commissioner John Garamendi has recommended a 15.3 percent decrease in the state’s workers’ compensation pure premium rates. This is his fifth consecutive decrease, which will bring the...

Alabama DOI Predicts Price Increases; Expects 50,000 Hurricane Claims

Nov 10 2005 // More than 50,000 claims are expected in Alabama from hurricane damage according to Ragan Ingram, assistant insurance commissioner for the Alabama Department of Insurance. He said, however, that complete cost estimates...

Citizens Property Board to Consider Rate Hikes When it Meets Next Week

Nov 9 2005 // Back-to-back insurance rate increases averaging 20 percent for non-hurricane premiums and 32 percent for wind-only premiums could be requested by Citizens Property Insurance Corp.’s board of directors after it meets...

MarketScout Barometer Shows Continued Softening in Professional Liability Market

Nov 7 2005 // MarketScout has analyzed the submissions from its agency network in an exclusive market evaluation on behalf of the Insurance Journal. Additionally, MarketScout conducted in person interviews with various industry leading...

W. Va. Legislation Effectively Reduced Homeowners, Auto Rates

Nov 7 2005 // Automobile and homeowners rates have been dramatically reduced as a result of legislative changes made by the West Virginia Legisla-ture, Insurance Commissioner Jane L. Cline, told Professional Independent Insurance Agents...

ARIZONA AUTO INSURANCE RATES RISING

Nov 7 2005 // Automobile ins-urance costs in Arizona are on the rise and remain on the high side nationally. The average rate has gone up 16.6 percent in Arizona in the latest five-year measurement, although the increase is lower than...

W. Va. Legislation Effectively Reduced Homeowners, Auto Rates

Nov 6 2005 // Automobile and homeowners rates have been dramatically reduced as a result of legislative changes made by the West Virginia Legisla-ture, Insurance Commissioner Jane L. Cline, told Professional Independent Insurance Agents...

MarketScout Barometer Shows Continued Softening in Professional Liability Market

Nov 6 2005 // MarketScout has analyzed the submissions from its agency network in an exclusive market evaluation on behalf of the Insurance Journal. Additionally, MarketScout conducted in person interviews with various industry leading...

R.I. Approves NORCAL’s 10%, JUA’s 70% Med-Mal Rate Hikes

Nov 2 2005 // The R.I. Department of Business Regulation has approved a 10 percent rate hike for NORCAL Mutual Insurance Co., the state’s largest medical malpractice insurer, effective Jan. 1, 2006.The department has also agreed...

Fla. Attorney General: Price Gouging Complaints Rise for Repairs, Cleanup

Nov 2 2005 // With Floridians beginning the rebuilding process in the wake of Hurricane Wilma’s assault one week ago, Attorney General Charlie Crist said his office’s Price Gouging Hotline has seen a spike in repair and...

N.H. Workers’ Comp Rates Going Down

Nov 2 2005 // The New Hampshire Insurance Department has approved a workers’ compensation voluntary market loss cost rate decrease averaging 3.9 percent and an average decrease of 4.6 percent for assigned risk rates.The revised...

Rate Decrease Granted for W. Va. Mutual Insurance Co.

Nov 1 2005 // The West Virginia Mutual Insurance Company has been granted a 5 percent rate increase according to Insurance Commissioner Jane L. Cline. The new rates take effect Jan. 1, 2006.West Virginia Mutual filed for the rate...

Fla. DOI Orders Comp Rate Reduction

Oct 28 2005 // Florida Insurance Commissioner Kevin McCarty disapproved a workers’ compensation rate filing from National Council on Compensation Insurance (NCCI) and called for a new filing with a larger rate decrease.In his...