All Rates articles
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NewsB&W: Oil and gas insurance pricing remains hard although rate momentum slowing
Energy insurance pricing remains hard with excess capacity still tight and rate increases continuing to be imposed although the upwards momentum has started to slow after several years of increases, according to Burns & Wilcox’s Alex Krcmarik.
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News
Allstate reveals $436mn May cat losses; auto rate increases viewed as disappointing
Allstate has estimated catastrophe losses for May of $436mn, with the US personal lines giant also revealing flat auto rate increases for the month that KBW analysts expect will disappoint investors.
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News
Gallagher: Price increases moderating as industry approaches rate adequacy
Rate increases across numerous segments are moderating following several years of significant hikes, and with many carriers’ portfolios in “a better position” pricing across multiple lines is now approaching rate adequacy, according to a report from Arthur J Gallagher.
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News
Gallagher: Days of submitting 2-4% valuation increases “are gone”
Inflation and a series of large individual risk losses exposing severe undervaluation have driven greater scrutiny on property submissions for real estate and hospitality business, with retail broker Arthur J Gallagher saying the days of submitting 2-4 percent increases across a portfolio “are gone”.
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News
CRC: More than a quarter of cyber accounts saw 100%+ March price increase
The latest REDY index from CRC for cyber shows that 28 percent of accounts renewing in March paid at least twice as much as pricing in the sector continues to significantly harden.
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News
WTW’s Clips: US commercial Q1 rate increases slowed to 6%
WTW said that US commercial rate increases slowed to 6 percent in the first quarter, a fall back from where price increases were in last year’s second quarter, after accelerating to 7 percent in the third and fourth quarters last year.
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News
Alliant: Plentiful capacity not preventing carriers’ demands for property rate rises
Despite an abundance of overall property capacity, rate increases remain the norm with carriers continuing to restrict the amount they are willing to deploy in loss-hit industries and for risks with significant catastrophe exposure, according to retail broker Alliant.
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News
Geographic idiosyncrasies impact construction pricing in broadly firm market
Pricing in the construction market remains firm for many classes of business although much depends on where a client or project is based geographically, while an influx of capital in various segments means competition is increasing and creating some stability.
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News
CRC: Liquor liability, real estate and trucking casualty lines continue to harden
A lack of liquor liability markets willing to write the business – even for clean accounts – means the cost of casualty coverage for restaurants and bars is on the rise, while conditions in both the real estate and trucking excess segments continue to harden, according to wholesale broker CRC.
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News
CRC: Cat wind and wildfire lead US property rate rises
Pricing for catastrophe wind and wildfire-exposed business leads the way across the broadly hardening property market with habitational/frame apartment buildings along with crypto/data mining facilities not far behind, according to CRC Group.
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News
Amwins: Louisiana property market facing 50-300% rate increases
Cat-exposed property insurance accounts in Louisiana are facing rate increases of up to 300 percent amid capacity restrictions, as the primary market begins to feel the impact of recent reinsurance renewals, according to wholesale intermediary Amwins.
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News
Southern Fidelity FOTs reveal 1.6 Florida challenge as renewals remain incomplete
Firm order terms (FOTs) for Southern Fidelity’s $437mn cat tower – which include an 85 percent rate on line (RoL) for the first layer and a 79 percent RoL for a second layer that also has a 95 percent RoL for reinstatement premium protection – highlight the lengths the carrier ...
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News
Atrium-led Emirates premium doubles in bellwether aviation war airline renewal
Emirates – one of the world’s largest airlines – has seen its Atrium-led war cover renew with a 100 percent premium increase in the first major indicator of the impact of the Russia-Ukraine conflict on renewals for the airline sector, The Insurer can reveal.
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News
CIAB: US commercial price rises slow down in Q1
US commercial insurance pricing went up for the 18th consecutive quarter in Q1 2022 although the 6.6 percent recorded during the period was lower than that seen in the final quarter of 2021, according to the Council of Insurance Agents & Brokers (CIAB).
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News
Tower Hill FOTs highlight FL renewal dynamics with 90% RoL on first layer
Tower Hill and its reinsurance broker TigerRisk have gone to the market with firm order terms (FOTs) on the Florida carrier’s core personal lines cat placement that include a first $10mn layer with a 90 percent rate on line (RoL) and a second $45mn layer priced at a 75 percent ...
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Analysis
Florida capacity crunch in toughest homeowners renewal in 15 years
Restricted reinsurer appetite for Florida cat risk means the state’s homeowners carriers are facing rate increases in the 15-30 percent range, with a growing likelihood that some lower-tier performers will not complete 1 June placements, leading to further potential ratings actions and corporate failures.
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Analysis
Severity drives large Q1 auto losses but carriers signal they’ve turned a corner
Increased severity led personal auto combined ratios to spike in the first quarter, but executives on earnings calls suggested the pain may just be a bump in the road as a result of the swift action they have taken to increase rates.
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News
Pool Re cuts terrorism rates while reserves grow to £6.9bn
Pool Re has cut terrorism rates by as much as 30 percent in certain UK locations in what the government-backed mutual described as the “most significant reduction” in its reinsurance pricing for 20 years.
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News
Ivans: Workers’ comp continues to buck trend of US commercial rate increases
All major US commercial lines with the exception of workers’ compensation continued to see rate increases in April compared with the same month last year, according to the latest Ivans Index figures.
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News
Allstate confident on restoring auto profitability as it attacks inflation
The lag between implementing rate increases and earned premium means the aggressive pricing actions taken by Allstate on its auto book are not yet having a lot of impact, but the US personal lines giant is confident it will be able to restore profitability in the segment to targeted levels.
