Insurance News

Posts Tagged ‘rates

Decisions such as the Federal Emergency Management Agency?s to delay charging market rates for policies sold in certain areas under the deficit-ridden National Flood Insurance Program, could become more common, an insurer group said.

An official of the Property Casualty Insurers Association of America warned that extensions like the two-year delay are likely to be the rule rather than the exception, at least until legislation as proposed Read the rest of this entry »

Directors and officers liability coverage for financial institutions may soften next year as more capacity enters the market, but few decreases are expected at the looming Jan. 1, 2010, renewals, brokerage Willis Ltd. said in a report released Monday.

Financial institution D&O coverage is one of the few areas of the D&O market where rates are still increasing. Some financial institutions may see even higher premiums at the beginning of Read the rest of this entry »

Directors and officers liability coverage for financial institutions may soften next year as more capacity enters the market, but few decreases are expected at the looming Jan. 1, 2010, renewals, brokerage Willis Ltd. said in a report released Monday.

Financial institution D&O coverage is one of the few areas of the D&O market where rates are still increasing. Some financial institutions may see even higher premiums at the beginning of Read the rest of this entry »

Risk managers likely will see favorable market conditions for most U.S. commercial property/casualty insurance lines again this year, according to a report Marsh Inc. plans to release this week.

Insurers, though, likely face challenges as the investment outlook will force them to focus on underwriting profitability, the report says.

?Intense competition among insurers, increased capacity and fewer insured catastrophe losses all Read the rest of this entry »

The hardening market property insurance buyers faced in the first half of 2009 eased considerably in the third quarter, according to a report from Chicago-based brokerage Aon Corp.

During the first half of the year, property insurance rates increased on average between 4% and 5%, and more than 20% in some cases, Aon said in its quarterly market overview. But in the third quarter, rates flattened to an average increase of 0.2%, due to light Read the rest of this entry »

Michigan voters could decide whether to reduce automobile, home and business insurance premiums by 20 percent if a proposal qualifies for the 2010 statewide ballot.

The form of a legislative initiative submitted by a group called Fair Affordable Insurance Rates was approved Monday by the Board of State Canvassers. Supporters still must collect more than 304,000 valid voter signatures and clear other procedural hurdles to put the measure Read the rest of this entry »

(Bloomberg) — Munich Re and Swiss Reinsurance Co., the world?s largest reinsurers, may struggle to raise prices for property and casualty coverage next year as an absence of costly disasters and a stock-market rebound restrain demand.

Reinsurers, which help insurers such as Allianz SE shoulder risks, gather in Monte Carlo starting tomorrow to begin talks with customers over January contract renewals. Discussions will continue at an Read the rest of this entry »

RALEIGH, N.C. ? Some North Carolina drivers will share in $50 million worth of refunds under an agreement announced Wednesday that will roll back private auto insurance rates to 2006 levels and freeze them for two years.

State Insurance Commissioner Wayne Goodwin said some drivers will be receiving refund checks in the middle of next year. Rate changes go into effect Nov. 1 and are retroactive to Jan. 1 for a total savings of $545 million.

Read the rest of this entry »

Commercial property/casualty insurance rates declined an average of 6% in June compared with those of a year earlier, MarketScout said Tuesday.

The declines hit all lines of coverage, all industry classes and all sizes of accounts, with the largest accounts enjoying the greatest declines, according to the Dallas-based electronic insurance exchange.

?June renewals show rate declines that continue to moderate, with many insurers Read the rest of this entry »

Commercial property/casualty insurance rates declined an average of 6% in June compared with those of a year earlier, MarketScout said Tuesday.

The declines hit all lines of coverage, all industry classes and all sizes of accounts, with the largest accounts enjoying the greatest declines, according to the Dallas-based electronic insurance exchange.

“June renewals show rate declines that continue to moderate, with many insurers Read the rest of this entry »