Tag: commercial insurance rates

Multi-state regulations are driving up the price of insurance coverage, according to research

Marc
Commercial insurance rates

Research suggests that regulations may be causing insurance rate hikes Multi-state regulations are common throughout the insurance industry. Insurance companies are forced to comply with these regulations no matter where they may be in the U.S. Regulators often impose these directives as a way to ensure that companies are not taking advantage of consumers by exploiting regulatory gaps. These expansive regulations are a double-edged sword, however, as they require a significant and ongoing financial investment from each state that adopts them. Research from the University of Iowa suggests that these…

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Towers Watson survey shows prices for commercial insurance continued their rise during Q4 2011

Julie Campbell

According to the results of the most recent Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS), the prices for commercial insurance increased by a total of 3 percent throughout the final quarter last year, which completed a year in which every quarter saw rising prices for all lines of standard commercial products. Furthermore, according to the report by the global professional services company, earned price increases are starting to compensate for the portions of the reported claim cost inflation levels. Data from CLIPS showed that, yet again, the commercial property…

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Commercial insurance market is on the cusp of a new growth

Jay Fishman, the chief executive of Travelers Cos. spoke at a financial services conference for Goldman Sachs, and announced that the insurer had boosted their business insurance prices in October by 5.2 percent, and in November by 5.8 percent, which are the most significant increases that have been made in a number of years. Travelers is known for painting a brighter image of prices than other insurance companies, and this latest announcement doesn’t appear to have changed that fact. However, at the same time, when the insurer said that it…

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Commercial insurance rates may be on the rise due to 2010 losses

H. Cutner

Premiums for commercial lines of insurance are still low, mainly due to an increased amount of insurers offering coverage, and the low amount of consumers looking for providers, and not making claims. Most small and midsized business rates remained the same, while some large companies saw minor decreases. The last two years have been relatively calm for most states, as far as natural disasters go; compared to losses that have occurred in previous years. This has created an increase in capital that insurance companies have had to work with when…

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