I can confirm through an industry insider (insurance not cruise) that premiums have increased significantly as a result of the recent difficulties experienced by the mass market cruise lines. In addition, re-insurance has also become a tight market which places an added pressure on the premiums paid by the cruiselines. The luxury cruise lines are especially vulnerable because their average passenger demographics are less favorable than those of mass market lines in the event of a true emergency (e.g., evacuation is more difficult, higher likelihood of lethal cardiac events due to stress/smoke inhalation, etc.). So I'd think it's safe to assume that Regent's hand was forced by the rather sudden, changing economics of the travel industry as opposed to not wanting to accomodate longtime customers.