Insurance News

Posts Tagged ‘rate

Chester, UK, February 24, 2011 (Insurance Headlines) February 25, 2011– Consumers with high interest-bearing debts can find relief by consolidating their balances to MBNA?s exclusive online credit card and enjoy a lower long-term rate.

The MBNA Rate for Life credit card offers a promotional rate of 5.9% and a low handling fee of 1.5% on all balance transfers and money transfers made within the first 60 days of opening an account, and Read the rest of this entry »

Citizens Property Insurance Corp. officials were questioned Tuesday about the insurer’s request for an average 8.4 percent statewide rate hike.

That includes an average increase of as much as 11.3 percent in parts of South Florida and a 9.3 percent statewide rate hike for policies that cover homes, condominium units, renters, mobile homes and vacation or rented property.

Some policyholders’ rates would decrease under the proposal. Regulators Read the rest of this entry »

There is a ?disconnect? between reinsurers and insurers, with the former exercising more discipline in their underwriting, say many observers.

John Daum, New York-based executive director of brokerage Lockton Re, said, ?Reinsurance pricing has still been fairly firm and disciplined, and the underlying insurance carriers haven’t been able to raise the rates? and are continuing to cut them, he said.

?It doesn’t appear that Read the rest of this entry »

TALLAHASSEE, Fla. (AP) — Florida insurance regulators are failing in their duties if they don’t make the state-backed Citizens Property Insurance Corp. raise property insurance rates by 10 percent across the board, a business group lobbyist said Tuesday.

Barney Bishop III, president of Associated Industries of Florida, said it’s ”astonishing” that the state-backed insurer would not increase rates on all policies by 10 percent.

Read the rest of this entry »

It seems like everyone on television these days wants you to shop around for auto insurance. Actor Dennis Haysbert says Allstate can save you money. “Flo,” with the red lipstick and the bouffant hairdo, is downright perky about Progressive Group. And a Cockney gecko and a pesky stack of googly-eyed cash want you to give Geico a try.

They may all be on to something. Prices in the intensely competitive auto-insurance business are based on Read the rest of this entry »

The soft property/casualty market may be approaching its end, according to a survey announced Monday by consultant Towers Perrin.

Overall, U.S. commercial property/casualty prices declined less than 1% during the first quarter of 2009, according to Towers Perrin’s Commercial Lines Insurance Pricing Survey.

The decrease was the smallest decline in commercial property/casualty insurance prices in four years, providing “increasing Read the rest of this entry »

TALLAHASSEE, Fla.—Florida Gov. Charlie Crist on Thursday signed into law a measure restoring the surplus lines industry’s traditional exemption from rate and form regulation in the state.The Florida Supreme Court put the exemption into question last year when it ruled in Essex Insurance Co. vs. Mercedes Zota, et al , that surplus lines was only exempt from the rating section of Chapter 627 of Florida’s insurance statute but was subject Read the rest of this entry »