All the headlines from our Pricing Trends Topic Page, ordered by recency.
Nov 4 2022 // The North Carolina Rate Bureau is requesting an average 87.5% increase in insurance rates for mobile home fire policies over the next two years, and a 53.4% increase in casualty policies.The rate requests may seem large,...
Nov 3 2022 // Progressive’s Flo won’t reappear on TV screens in every state, but the insurer she pitches for is comfortable pursuing business growth, company leaders said yesterday.That means potentially using more...
Oct 28 2022 // Swiss Re reported a third-quarter loss of $442 million driven by claims tied to the damage from hurricane Ian, and signaled that renewal prices would jump next year.The Zurich-based reinsurer’s key unit saw $2.5...
Oct 27 2022 // Global insurance pricing continued to rise, although at a slower pace, during the third quarter, which saw commercial insurance premiums increase an average of 6%, down from 9% in Q2, according to Marsh’s Global...
Oct 25 2022 // It has been three weeks since Hurricane Ian struck Florida on Sept. 28, 2022. The storm took at least 119 lives and caused estimated insured losses ranging from $31 billion to $74 billion, with most estimates in the $60...
Oct 21 2022 // While the total impact of Hurricane Ian won’t be realized for some time, the effect on an “already stressed property market will be significant,” said John Q. Doyle, group president and COO of Marsh...
Oct 18 2022 // The Idaho Department of Insurance accepted a 11.5% reduction in rates, effective January 1, 2023. This follows the National Council on Compensation Insurance submission of its annual rate recommendation to the Idaho...
Oct 12 2022 // European reinsurers will miss their earnings targets in 2022 – for the sixth year in a row – which is pressuring the industry to raise rates and continue improving the quality of their portfolios, according to a...
Oct 11 2022 // Louisiana Insurance Commissioner Jim Donelon approved a significant rate hike for Louisiana Citizens residential property insurance policies, a move the insurance department blamed on rising costs of reinsurance.Donelon...
Oct 5 2022 // Indiana Department of Insurance Commissioner Amy L. Beard recently approved a decrease of 10.3% on average for Workers‘ Compensation rates recommended by the Indiana Compensation Rating Bureau (ICRB), effective...
Oct 3 2022 // A comparison of workers’ compensation direct premium written indicated an overall increase of approximately 10.1% for the first six months of 2022 compared to the first six months of 2021. Twenty of the Top 25...
Sep 30 2022 // The Workers’ Compensation Insurance Rating Bureau of California released its Quarterly Experience Report, which reflects an increase in written premium due to economic recovery from the pandemic.The report is an...
Sep 21 2022 // Bundling home and auto insurance may have hit a roadblock as consumers have started to break up policies largely due to increases in auto insurance premiums, according to J.D. Power.Overall satisfaction and retention rates...
Sep 20 2022 // The heightened perception of risk stemming from cyber attacks, the climate, pandemics and even inflation are just a few of the volatile factors fueling a demand-side need for more specialized coverage approaches, which...
Sep 20 2022 // Higher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the balance of the year.Speaking at...
Sep 13 2022 // Uncertain times are challenging for reinsurers. Claims may jump, and investment losses may dent profitability and possibly capital. However, uncertain times can also be good for reinsurers. Demand for reinsurance...
Sep 12 2022 // U.S. commercial insurance prices increased again during the second quarter 2022, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS).The aggregate commercial price change reported by carriers...
Sep 8 2022 // South Africans could soon be paying as much as 5% more on their premiums as insurers face growing risks both globally and locally.The country is now considered “very risky” due to mounting flood and fire...
Sep 8 2022 // Fresh on the heels of massive reinsurance price increases in June, which helped send some property insurers into insolvency or out of the Florida market, reinsurers are now likely to raise premiums again in the next few...
Sep 5 2022 // The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto line.Loss pressures and a...