All the headlines from our Pricing Trends Topic Page, ordered by recency.
Feb 2 2023 // As it had warned last month, Allstate Corp. reported a fourth quarter 2022 loss of $310 million as losses from auto insurance outpaced an increase in revenue.Results were in comparison to net income of $790 million for Q4...
Feb 1 2023 // Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow’s flagship Urals grade held below an international price cap, according to market sources and Eikon data.The Group of...
Jan 25 2023 // Amid a historically hard construction market, middle and large-sized companies looking for alternatives to traditional insurance may turn to captives to find stable pricing and greater capacity.Captives, licensed...
Jan 25 2023 // Vermont businesses will see another rate decrease in workers’ compensation insurance in 2023. This will mark the seventh consecutive year of rate reductions.The loss cost decrease of an average 6.7%, which takes...
Jan 6 2023 // According to MarketScout’s Market Barometer, the fourth quarter 2022 composite rate for U.S. commercial lines of insurance was up 5.1%.The Dallas-based distribution and underwriting company said property insurance...
Dec 29 2022 // With last year’s 25% rate hikes for public directors and officers liability insurance dropping to 2.5%, and 150% hikes for cyber cover sinking to 25%, significant softening is forecast for some casualty lines in...
Dec 22 2022 // Louisiana Insurance Commissioner Jim Donelon has approved the annual loss cost filing of the National Council on Compensation Insurance (NCCI) for a -12.2% reduction in workers’ compensation rates. The decrease,...
Dec 20 2022 // Written premium declined sharply beginning in the second quarter of 2020 due to the economic downturn resulting from the pandemic, according to a report out on Tuesday.The report from the Workers’ Compensation...
Dec 13 2022 // With the exception of directors & officers liability and workers compensation, nearly all lines of business in the U.S. continued to see rate increases in the third quarter of 2022, according to WTW’s Commercial...
Nov 30 2022 // According to an analysis by S&P Global Market Intelligence, the U.S. excess and surplus market continued to grow in 2022, surging $37.6 billion in premiums during the first six months.Direct written premiums in the...
Nov 23 2022 // Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according to a commentary from Fitch RatingsFitch expects double-digit percentage premium...
Nov 22 2022 // The Missouri Department of Commerce and Insurance (DCI) is recommending a 6.4 percent decrease in workers’ compensation insurance loss costs for 2023. This marks the seventh time in eight years that average...
Nov 21 2022 // Directors and officers liability pricing fell 14.7% in the third quarter, according to a recent survey.Aon’s Financial Services Group’s Q3 2022 pricing index for the quarter ending on September 30 decreased to...
Nov 21 2022 // Across all lines, the insurance industry is experiencing macro-hard markets, with large rate and premium increases, as well as re-underwritten renewals as the U.S. deals with broader economic uncertainty.Agents are also...
Nov 18 2022 // Third-quarter 2022 marked the 20th consecutive quarter of increased premiums for commercial property/casualty, according to the latest report from the Council of Insurance Agents and Brokers (CIAB).The average premium...
Nov 10 2022 // Directors and officers liability pricing fell 14.7% in the third quarter, according to a recent survey.Aon’s Financial Services Group’s Q3 2022 pricing index for the quarter ending on September 30 decreased to...
Nov 9 2022 // Aviva plans “regular and sustainable” investor payouts, its CEO said on Wednesday, as the British insurer reiterated plans for a share buyback program alongside its 2022 results and posted a rise in nine-month...
Nov 8 2022 // The Florida insurance commissioner has approved a decrease in overall workers’ compensation rates for 2023, and he did not demand a sharper decrease from actuaries.The National Council on Compensation Insurance in...
Nov 7 2022 // Oklahoma Insurance Commissioner Glen Mulready announced that businesses should see another rate decrease in workers’ compensation insurance beginning on January 1, 2023. The Oklahoma Insurance Department has approved...
Nov 7 2022 // Agency errors and omissions premiums have risen on average for three years in a row, according to Insurance Journal’s annual Agency E&O survey.Some 70.5% of respondents saw an increase in their agency E&O...