IVANS®, a division of Applied Systems®, today announced the May results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business saw an increase in average premium renewal rate, except Workers’ Compensation, which experienced a negative change in premium. Month over month, May premium renewal rates decreased… Continue reading Average Renewal Rates Experience Downward Turn Across All Major Commercial Lines Month Over Month
Tag: insurance rates
Average April Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the April results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business experienced an increase in average premium renewal rate, except Workers’ Compensation, which saw a decrease in premium. Month over month, April premium renewal rates experienced a… Continue reading Average April Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines
Average Commercial Premium Renewal Rates Experience Positive Changes Month to Month: IVANS
IVANS®, a division of Applied Systems®, announced the Q1 2020 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Q1 results showed an increase premium renewal rate change average across nearly all major commercial lines of business, including Commercial Auto, Business Owner’s Policy, General Liability, Umbrella, and Commercial Property compared to Q4;… Continue reading Average Commercial Premium Renewal Rates Experience Positive Changes Month to Month: IVANS
U.S. Commercial Insurance Prices Accelerate Again, As Carriers Report Changes of Over 6%
U.S. commercial insurance prices accelerated during the fourth quarter of 2019, as the aggregate price change reported by carriers exceeded 6%, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS). This is a continuation of the acceleration observed in recent quarters. The survey compared prices charged on policies underwritten during the fourth quarter… Continue reading U.S. Commercial Insurance Prices Accelerate Again, As Carriers Report Changes of Over 6%
Average Renewal Rates Change Month to Month Across Most Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the January results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, nearly all lines of business experienced an increase in average premium renewal rate, except Workers’ Compensation, which saw a negative turn. Month over month, January premium renewal rates experienced variable… Continue reading Average Renewal Rates Change Month to Month Across Most Major Commercial Lines
U.S. Commercial Insurance Prices Continue their Upward Trajectory
U.S. commercial insurance prices accelerated during the third quarter of 2019, as the aggregate price change reported by carriers exceeded 4%, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the third quarter of 2019 to those for the same coverage during the third… Continue reading U.S. Commercial Insurance Prices Continue their Upward Trajectory
Sonoma County Fire Explodes to 10,000 Acres, Prompting Additional Evacuations
Pushed by wind gusts that topped 70 mph, a monster brush fire spread rapidly overnight in a rural section of Sonoma County, California, threatening communities and forcing evacuations. The Kincade fire is an estimated 10,000 acres and has no containment, according to the California Department of Forestry and Fire Protection and local officials. It is… Continue reading Sonoma County Fire Explodes to 10,000 Acres, Prompting Additional Evacuations
No One Can Agree on How to Price California Home Insurance for Wildfires
Finding home insurance in wildfire-prone parts of California is getting more difficult and more expensive. No one can agree on how to make it any easier. A new flashpoint is the use of algorithmic models for predicting catastrophe losses. Insurers have long used these models to project losses from natural disasters but insurers, homeowners and… Continue reading No One Can Agree on How to Price California Home Insurance for Wildfires
Commercial Property Rates Firm as Market Turns Toward Disciplined Underwriting
Commercial insurance buyers are facing upward pressure on pricing for most lines of business for the remainder of 2019, according to leading global advisory, broking and solutions company, Willis Towers Watson’s Insurance Marketplace Realities 2019 Spring Update. The report serves as a guide for North American insurance buyers preparing for upcoming insurance program renewals. In… Continue reading Commercial Property Rates Firm as Market Turns Toward Disciplined Underwriting
Florida Freezes Insurance Rates for 90 Days After Michael
Gov. Rick Scott on Sunday directed the state’s top insurance regulator to freeze any potential property-insurance rate increases for 90 days as homeowners and businesspeople grapple with massive damage from Hurricane Michael. Scott also directed Insurance Commissioner David Altmaier to require rescinding for 90 days all policy non-renewals or cancellations that had been issued in… Continue reading Florida Freezes Insurance Rates for 90 Days After Michael