Research and Trends News

Premiums, Claims Severity on Rise in Architects & Engineers Market: Survey

For the third consecutive year, most insurers providing professional liability insurance for architects and engineers saw their premium rates increase modestly in 2014, as expectations of larger rate hikes were tempered by steady competition. A new survey by insurance broker …

Erie Survey Finds Wide Range of Distracted Behaviors Behind Wheel

To discourage distracted driving in conjunction with National Distracted Driving Awareness Month in April, Erie Insurance, based in Erie, Pennsylvania, recently asked drivers what they do behind the wheel. The online survey of 1,915 U.S. drivers aged 18 and older …

Shipping Losses Down in 2014 But New Threats Loom: Allianz

Shipping losses declined to 75 during 2014, a 32 percent drop from the previous year and well below the 10-year loss average of 127, according to Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015. …

Why Are Agency Employees Unhappy?

Agency employees are not happy when it comes to compensation, and money isn’t the problem. Despite increases in salaries and total compensation, many employees continue to be unsatisfied when it comes to overall compensation, according to Insurance Journal‘s annual Agency …

IAIS’ International Capital Standards Have Ambitious Timeline: A.M. Best

Given the potential wide-reaching impacts on pricing, products, investment strategies and the cost of capital, A.M. Best doubts that the ambitious timeline can be met to develop and implement international capital standards by the International Association of Insurance Supervisors (IAIS). …

How Driverless Cars Might Affect Ownership, Miles Driven

Driverless vehicles may reduce the number of vehicles a family needs, but may lead to an increase in total miles driven. Researchers at the University of Michigan Transportation Research Institute (UMTRI) examined U.S. National Household Travel Survey data that contained …

Securities Class Action Settlement Amounts Plummet

Bringing a securities class action became less lucrative last year. According to a new Cornerstone Research report, total settlements in such cases hit their lowest point in 16 years. The aggregate amount of settlements dropped 78 percent to $1.07 billion …

As West Bakes and Northeast Shivers, Elsewhere Tornadoes Almost Disappear

The same weather pattern that made the West warm and dry and the Northeast cold and snowy has contributed to keeping the rest of the U.S. relatively free of tornadoes so far this year. In the first two months of …

Arctic Melt Creates Weakest Gulf Stream in 1,000 Years, Weather Shifts Expected

Gulf Stream water currents in the Atlantic Ocean have slowed to the weakest in as long as 1,000 years, threatening shifts in U.S. and European weather, as well as coastal sea levels including in New York and Boston. The currents …

UK Report Highlights Role of Insurance in Managing, Mitigating Cyber Risk

Last year 81 percent of large UK businesses and 60 percent of small companies suffered a cyber security breach. In response to this increasing threat, a report published by the UK government and Marsh, one of the UK’s leading insurance …