All the headlines from our Pricing Trends Topic Page, ordered by recency.
Dec 8 2023 // Insurance companies in Kansas will pay a reduced surplus lines tax rate beginning next year after the legislature passed a law lowering the surplus tax rate from 6% to 3% for tax years 2024 and after.Kansas insurance...
Dec 6 2023 // Fresh attacks on vessels in the Red Sea are raising insurance premiums for ships in the region and menacing commerce in a conduit for 12% of world trade.War-risk premiums for some vessels have been climbing since shortly...
Dec 5 2023 // War risk insurance premiums edged up for Red Sea voyages after three vessels were attacked in the area on Sunday and fears grow over worsening perils for commercial shipping, maritime and insurance sources said on...
Dec 1 2023 // The Washington State Department of Labor & Industries announced a 4.9% increase in the average workers’ compensation premium rate for 2024.The increase, which takes effect Jan. 1, 2024, means employers and...
Nov 30 2023 // The Missouri Department of Commerce and Insurance said that employers should see a reduction in workers’ compensation rates in 2024, the third straight year of declining rates.The NCCI recently proposed an overall...
Nov 30 2023 // Overall commercial property/casualty premiums increased slightly more than 8% on average in the third quarter, marking six full years of steady increases.According to The Council of Insurance Agents and Brokers’ Q3...
Nov 28 2023 // New Jersey’s insurance regulator has approved a 3.9% reduction in workers’ compensation and employer liability rates starting January 1, 2024.The approved statewide rate change is based on the latest financial...
Nov 20 2023 // It’s no secret to buyers of almost any type of property/casualty insurance policy — home, auto, business — that rates are rising, regardless of whether claims have been submitted.People may also have...
Nov 16 2023 // Businesses in Connecticut will receive a nearly 10% decrease in rates for workers’ compensation insurance beginning on January 1, 2024.The Connecticut Insurance Department has approved an annual workers’...
Nov 8 2023 // Ivan’s Index for the third quarter found the average premium renewal rate increased for all major commercial lines of business except workers’ compensation.Compared to the same period a year ago, Q3 2023...
Nov 8 2023 // The number of insurance claims filed for catalytic converter thefts plummeted this year after rising dramatically in 2021 and 2022.National Insurance Crime Bureau data shows that as of Sept. 30, the number of claimed...
Nov 6 2023 // Losses resulting from severe convective storms are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting projections by actuaries at the Insurance...
Nov 6 2023 // Fewer agencies reported increases in premium on their agency errors and omissions renewal policies from 2022 to 2023, according to Insurance Journal’s annual Agency E&O survey which polls buyers of the coverage...
Oct 26 2023 // U.S. penalties on shippers transporting Russian oil in breach of the G7’s price cap could push more Russian cargoes onto vessels referred to as the ghost fleet and away from mainstream tankers, shipping sources and...
Oct 24 2023 // Executive summary: Tony Buckle and John Carolin, co-founders of the boutique insurance consultancy UWX, analyze underwriter motivation during the soft phase of the market cycle. While average market prices are the hardest...
Oct 23 2023 // Crash and fatality rates among drivers under 21 have fallen dramatically in the U.S. during the past 20 years, a new report says, while noting young drivers are still the riskiest group behind the wheel.Using data from...
Oct 23 2023 // E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the group’s German business, expects further price increases and improved conditions during the Jan. 1, 2024 reinsurance renewals.Natural disasters...
Oct 17 2023 // The number of soured commercial real estate loans has begun to rise in the UK as the rapid increase in interest rates feeds through to property valuations.The overall default rate on UK commercial real estate debt reached...
Oct 16 2023 // A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a new report...
Oct 12 2023 // Insurance Commissioner Trinidad Navarro announced that Delaware’s workers’ compensation rates will decrease for the seventh year in a row, effective December 1, 2023. The voluntary market is expected to...