All the headlines from our Pricing Trends Topic Page, ordered by recency.
Mar 4 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7% on average in the fourth quarter 2023, continuing a trend that has now last more than 6 years.According to The Council of...
Mar 4 2024 // Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best.For reinsurers, a...
Mar 4 2024 // The excess and surplus lines market continued to grow in 2023, with premium reaching nearly $73 billion according to data from 15 state surplus lines offices released by the Wholesale & Specialty Insurance Association...
Mar 4 2024 // There are reasons to be optimistic about the small business insurance market. New businesses are opening their doors every day. Small business start-ups are booming with record-breaking new business applications reported...
Feb 28 2024 // Condominium sales and prices in Miami, Jacksonville and Tampa and other parts of Florida have dropped over the past year, largely due to the soaring cost of property insurance and association fees, according to Redfin, a...
Feb 22 2024 // When Allstate’s Florida unit, Castle Key Indemnity Co., entered the surging condominium insurance market in 2020, it looked like it had made a smart bet: Within two years, the carrier had added no fewer than 123,000...
Feb 21 2024 // Protection and Indemnity (P&I) clubs sought further price improvements at the February 2024 renewals in order to keep up with claims inflation, despite a relatively benign year for P&I claims in 2023, according to...
Feb 19 2024 // Broker Marsh said the composite rate change at renewal for U.S. commercial lines was up 3% in the fourth quarter 2023, led by an 11% increase in property rates.The Marsh Global Insurance Market Index said it was the 25th...
Feb 15 2024 // Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million.The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low...
Feb 15 2024 // Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best.For reinsurers, a...
Feb 14 2024 // The excess and surplus lines market continued to grow in 2023, with premium reaching nearly $73 billion according to data from 15 state surplus lines office release by the Wholesale & Specialty Insurance Association...
Feb 13 2024 // The Florida Office of Insurance Regulation next week will hold hearings on two property insurers’ requests for 54% average rate increases, one of which has already affected more than 105,000 condominium unit...
Feb 8 2024 // Allstate Corp. fourth quarter 2023 net income attributable to common shareholders was about $1.5 billion, reversing a loss of $303 million during the same time the prior year.Allstate CEO Tom Wilson said “improved...
Feb 7 2024 // North Carolina Insurance Commissioner Mike Causey has rejected an average 42% hike in homeowners insurance rates proposed in January by the state’s rate bureau, setting the stage for a public hearing and...
Feb 5 2024 // Broker Marsh said global commercial insurance rates increased by 2% at renewal in the fourth quarter of 2023, marking the 25th straight quarter of rate increases.“At a time of much global economic uncertainty,...
Feb 5 2024 // Broker Marsh said the composite rate change at renewal for U.S. commercial lines was up 3% in the fourth quarter 2023, led by an 11% increase in property rates.The Marsh Global Insurance Market Index said it was the 25th...
Feb 5 2024 // While not news to independent agents, commercial lines renewal rates rose again in the fourth quarter of 2023 — another sign that the hard market is here to stay — at least through 2024.According to the Ivans...
Feb 5 2024 // No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk. For this special report, Insurance Journal asked industry thought leaders their predictions for the...
Feb 5 2024 // We are obviously in one of the most intense hard markets of the last several decades. While much has been said and written about how to navigate the challenges the market is creating for agents, I’d like to take a...
Jan 25 2024 // Reinsurers’ underwriting margins are expected to peak in 2024 on the significant price rises and tighter terms and conditions achieved during 2023 and in the January 2024 renewals, which will likely lead to softer...