Highlights
For homeowners insurance, direct-written premium rose 3.5 percent to more than $71.6 billion for [2011]. The increase indicates “that rate increases—stemming from recent years’ unexpectedly high weather-related losses—are gaining traction.” Storm losses accounted for a 14.8 point increase in the direct-loss ratio to 75.8 “likely motivating continued rate increases in 2012,” according to Shields.
The source article Written Premium, Rising Loss Ratios Point to Continued Rate Increases was published March 27, 2012 by Cleaveland Insurance Group .
