The most viewed headlines from our Pricing Trends Topic Page over the last year.
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...
Oct 29 2024 // Executive Summary: During the period 2013 through 2018, the U.S. did not become less litigious nor did Atlantic sea surface temperatures get less warm. Yet rates for U.S. excess liability and Atlantic hurricane both...
Sep 17 2024 // US property insurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes.The average US property insurance rate decreased 0.94% in...
Oct 24 2024 // The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions.The ninth annual LexisNexis U.S. Home...
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...
Jan 11 2024 // Executive Summary: Companies need to enact long-term performance measurement and strategies for underwriting discipline across the underwriting cycle because evidence suggests underwriters will not impose it themselves,...
Jul 18 2024 // Hard market conditions in the global non-life insurance sector will continue this year, but will begin to ease in 2025, as general inflation and claims inflation conditions soften, according to Swiss Re in a report, which...
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...
Jun 10 2024 // North Carolina Insurance Commissioner Mike Causey has settled on an 8% average rate increase for dwelling insurance policies, starting Nov. 1.The North Carolina Rate Bureau, basing its request on data from property...
Oct 15 2024 // Property Insurance claims from Hurricane Milton had topped more than 152,180 by Tuesday, with some $1.9 billion in estimated insured losses. That’s already more than the claims and losses reported for Helene, which...
Aug 20 2024 // Commercial property/casualty premium increases in the second quarter 2024 were flat or down from the previous quarter for all lines of business—evidence of a softening insurance market, according to The Council of...
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...
Jul 3 2024 // State Farm has applied for large rate increases in California, a year after the carrier got rate approvals of 7% and 20%—adding fuel to a burning homeowners crisis in a state that’s seen an increasing number of...
Dec 27 2023 // Insurance trade organizations are always working for the industry so Insurance Journal asked them: What are the top priorities and/or challenges heading into 2024?Here are the responses we received: In the coming year, the...
Dec 12 2023 // As claim severity rises, US personal auto results are on the decline, according to AM Best’s latest Market Segment Report.The 112.2 net combined ratio in 2022 for personal auto was an almost 11-point deterioration...
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...
Oct 24 2024 // Commercial insurance rates during the third quarter in the U.S. increased 3%, with casualty rates up 10%.According to Marsh’s Global Insurance Market Index — which noted the first decline in global commercial rates...
Sep 26 2024 // Millions of Americans have been watching with growing alarm as their homeowners insurance premiums rise and their coverage shrinks. Nationwide, premiums rose 34% between 2017 and 2023, and they continued to rise in 2024...
Jul 12 2024 // Allstate is seeking an increase in its California homeowners insurance premiums by an average of 34%.According to the California Department of Insurance, the Allstate homeowners filing was received by the Department on...
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...