Governor Ron DeSantis announced his proposed $114 billion budget on Marco Island Tuesday. He believes it will slow spikes in insurance rates. The governor’s budget proposal calls for reducing some taxes and fees on home insurance bills. The average home insurance policy now is about $6,000 in Florida. So the tax break is about 6… Continue reading Governor DeSantis Proposes $114B Budget to Offset Climbing Insurance Rates
Tag: insurance rates
Cincinnati Financial CEO Says Inflation Easing as Rate Increases are Still Catching Up
Inflation that rapidly escalated at the start of 2021 has moderated the past couple of months, but it will take time for rate increases reflecting higher costs to reach all policyholders, Cincinnati Financial Corp. Chairman and Chief Executive Officer Steve Johnston said during a third-quarter earnings call.
Commercial Insurance Rates Moderate in 3Q 2023: MarketScout
n 2023, third quarter commercial insurance rates were plus 3.72% as compared to plus 5% in the second quarter. Rates for all coverage classifications except business owners policies (BOP) moderated in the third quarter. BOP rates increased from plus 3.2% to plus 5%.
Commercial Insurance Rates Continued to Increase at Slightly More than 6% in 2Q
According to WTW, a leading global advisory, broking and solutions company, U.S. commercial insurance prices have continued to increase in the second quarter of 2023, based upon their Commercial Lines Insurance Pricing Survey (CLIPS).
“Average” Nat Cat Losses in Q3 Are Likely to Keep Rates High: Berenberg
While a super-clean wind season is more likely than not to put pressure on rates in 2024 renewals, a hurricane making landfall will likely have profound implications for the industry, according to Berenberg analysts.
Composite U.S. Commercial Insurance Rates Steady in 2Q: MarketScout
Businesses across the United States were assessed an average composite insurance rate increase of 5% in the second quarter of 2023.
Renewal Rates Experience Variable Change Y-O-Y Across Commercial Lines; All Rates Up Month Over Month
Year over year, Commercial Auto, Business Owners’ Policy (BOP), General Liability and Commercial Property experienced increasing average premium renewal rates.
Q2 2023 Airline Insurance Market Renewal Outlook: WTW
Healthy market capacity is currently keeping aviation insurance rates stable, but there is mounting pressure.
Commercial Rates Up in First Quarter 2023
The composite rate for commercial property and casualty rates increased in a deliberate, modest fashion in the first quarter of 2023 at plus 5%.
Commercial Insurance Rates Continued to Increase in the 4Q at a Slower Pace of 4.8%
U.S. commercial insurance prices have continued to increase in the fourth quarter of 2022, according to WTW. Data for nearly for all lines of coverage continued to show price increases throughout the fourth quarter, with a general rate of +4.8%.