All the headlines from our Pricing Trends Topic Page, ordered by recency.
Mar 2 2022 // Energy giant BP is seeking to appeal a decision that allowed a small Kansas town’s lawsuit over soaring natural gas prices in February 2021 to proceed.BP, formerly known as British Petroleum, filed two documents last...
Feb 8 2022 // SCOR reported 19.0% premium growth during the January property/casualty (P/C) reinsurance renewals and an overall average P/C price increase of 4.9%.SCOR said the 19% premium growth figure includes a large structured...
Feb 7 2022 // Direct-premium production for the U.S. P/C industry through the third quarter 2021 improved as insurers increased rates, but adverse trends in loss costs for many lines of business continue to dampen profitability.Through...
Feb 7 2022 // Surplus lines premium increased 22% and transactions rebounded almost 6.6% over their 2020 totals in the 15 states with designated surplus lines’ stamping offices.The increases represented record levels of premium...
Feb 3 2022 // Kemper Corp. said it is taking rating and other actions, including canceling some agents, as it seeks to recover from inflation-riddled fourth quarter financial results.Kemper Corp. reported a net loss of $105.8 million...
Jan 26 2022 // Surplus lines premium increased 22% and transactions rebounded almost 6.6% over their 2020 totals in the 15 states with designated surplus lines stamping offices.The increases represented record levels of premium ($51...
Jan 25 2022 // Direct-premium production for the U.S. P/C industry through the third quarter 2021 improved as insurers increased rates, but adverse trends in loss costs for many lines of business continue to dampen profitability.Through...
Jan 24 2022 // As dramatic as escalating ransomware attacks and rapidly climbing cyber insurance rates have been in 2021, both trends will continue to be a nuisance in 2022, according to an expert from Fitch Ratings.“It is probably...
Jan 20 2022 // Florida regulators will hold hearings Friday, Jan. 21, on another round of hefty rate hikes requested by property insurers facing losses in the state’s distressed property insurance market.Southern Fidelity Insurance...
Jan 13 2022 // The Connecticut Insurance Department has approved a filing with decreases of 14.1% to workers’ compensation pure premium lost costs, and an 8.2% reduction in assigned risk rates.The decreases, effective January 1,...
Jan 5 2022 // Frustration is setting in for commercial insurance buyers subjected to multiple years of price rises, especially those that have improved their risk profiles by de-risking and elevating risk management, according to a...
Jan 5 2022 // As dramatic as escalating ransomware attacks and rapidly climbing cyber insurance rates have been in 2021, both trends will continue to be a nuisance in 2022, according to an expert from Fitch Ratings.“It is probably...
Dec 29 2021 // Louisiana Insurance Commissioner Jim Donelon has approved a 10.5% reduction in workers’ compensation rates for 2022. The decrease is set to take effect May 1, 2022.Louisiana has seen workers’ compensation rates...
Dec 22 2021 // Workers’ compensation insurance rates for the voluntary market will drop next year in South Carolina, but the loss cost multiplier for the assigned risk sector will climb again, thanks to another year of excessive...
Dec 16 2021 // The board of governors for Citizens Property Insurance Corp., Florida’s state-backed insurer of last resort, wants the maximum allowed rate increase – 11% for next year and 12% for 2023 – in an effort to stem the...
Dec 9 2021 // AM Best is maintaining a stable market segment outlook for the global reinsurance segment, citing in part the ongoing positive pricing momentum driven by rising loss cost inflation, enhanced underwriting discipline,...
Dec 7 2021 // Reinsurance rates are expected to increase by more than 10% in catastrophe-related lines of business when contracts are renewed in January 2022, which supports an improving sector outlook for 2022, according to Fitch...
Dec 6 2021 // With good news comes bad, and vice-versa in Florida’s growing but rapidly deteriorating property insurance market, industry analysts said at a two-day Florida Chamber of Commerce Insurance Summit last week.First,...
Nov 30 2021 // The Washington Department of Labor & Industries announced a 3.1% increase in the average worker’s compensation premium rate for hours worked in 2022.“A modest hike is needed because of the rising costs to...
Nov 30 2021 // Delaware Insurance Commissioner Trinidad Navarro announced that workers’ compensation insurance rates in the state will decrease for the fifth year in a row, effective December 1, 2021.The voluntary market is seeing...