All the headlines from our Pricing Trends Topic Page, ordered by recency.
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...
Apr 28 2023 // State Farm Tops List of Large Insurers Providing Satisfying Shopping Experience, While The Hartford Ranked Highest Among Midsize InsurersSaving money is the primary focus of consumers searching for auto insurance,...
Apr 28 2023 // Key figures in the insurance industry said rising Russian oil prices are making it harder for them to know if they can lawfully cover Russian cargoes.Since December, buyers of Russian crude oil have only been allowed to...
Apr 27 2023 // Average global cyber insurance prices continued to moderate in the first quarter, with average price increases of 11%, compared to 28% in Q4 2022, according to the Global Insurance Market Index published by insurance...
Apr 20 2023 // Auto insurers have been forthcoming in their desire to achieve rate to match increases in claims costs and, so far in 2023, consumers are not standing by.According to a quarterly report from J.D. Power, in collaboration...
Apr 19 2023 // Executive Summary: An uncertain economic landscape leading to a rise in claims, decreasing rates, and proposed US Securities and Exchange Commission regulations on environmental, social and governance disclosures (ESG) are...
Apr 19 2023 // This post is part of a series sponsored by AgentSync. Supply chain disruptions, increased consumer demands, a tight labor market, a global pandemic, a couple natural disasters, and a war. These are just a few of the causes...
Apr 17 2023 // Optimism among young agents took a hit, falling from 2022 to 2023, according to Insurance Journal’s annual Young Agents Survey.When it comes to their career choice and the future of the independent agency system,...
Apr 17 2023 // A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the American Property and Casualty Insurance Association...
Apr 17 2023 // Workers’ compensation is getting the job done. Premiums are decreasing, claims are stable and retention is high.But even good news can present its own set of challenges, Burns & Wilcox indicated in its webinar,...
Apr 17 2023 // Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions...
Apr 10 2023 // In a “deliberate and modest fashion,” the composite rate for commercial property and casualty lines increases 5% during the first quarter 2023, according to MarketScout.The Dallas-based distribution and...
Apr 10 2023 // Reported demise of the independent insurance agency as a sales and distribution channel have been greatly exaggerated. Over the course of a decade or more of predictions about the growth of the direct-to-consumer models,...
Apr 4 2023 // The Texas market for auto and homeowners insurance grew double digits in 2022, according to an annual report put out by the Texas Department of Insurance.Texas insurers reported direct premium written for private passenger...
Apr 3 2023 // U.S. commercial insurance prices grew in the fourth quarter of 2022 by an average of 4.8%, down from the rate of 5.2% in the previous quarter (Q3 2022), according to WTW’s most recent Commercial Lines Insurance...
Apr 3 2023 // Consolidation of physician services into larger groups owned by hospitals and health care systems is driving up the cost of care in workers’ compensation, according to a new study by the Workers’ Compensation...