Research and Trends News

P/C Insurers’ Net Income Fell 42.2% in Q1; Catastrophe Losses Topped $7 Billion

The U.S. property/casualty insurance industry saw its net income fall to $7.7 billion in first-quarter 2017 from $13.4 billion in first-quarter 2016, a 42.2 percent decline. Also, its overall profitability as measured by its annualized rate of return on average …

Oil & Gas Industry Faces More Frequent & Sophisticated Cyber Attacks: Deloitte

Three out of four oil and natural gas companies fell victim to at least one cyber attack last year as hacking efforts against the industry become more frequent and sophisticated. That’s the finding from a report released Monday by industry consultant …

Survey: Agents Suggest How Carriers Can Move from ‘Good’ to ‘Great’

One would expect to see high levels of satisfaction between an independent agency and its top carrier, but that isn’t always the case. Peeling back the layers usually reveals fertile ground for improvement and shows the path to higher performance …

Weed Warning: Legalizing Marijuana Tied to Rise in Crashes in 3 States by HLDI

Legalizing recreational marijuana use in Colorado, Oregon and Washington has resulted in collision claim frequencies that are about three percent higher overall than would have been expected without legalization, a new insurance report has found. The Highway Loss Data Institute …

Reinsurance Rates Continue to Soften with No End in Sight: S&P

The global reinsurance sector is poised for yet another full year of declining rates, ensuring that a hoped-for bottom of the current market cycle will remain elusive in 2017, Standard & Poor’s said in a new report. The continued downward …

Cyber Insurance Premium Volume Grew 35% to $1.3 Billion in 2016

Property/casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 percent jump from 2015, according to reports by Fitch Ratings and A.M. Best. The largest cyber insurance writers are American International Group, XL Group …

Drone Delivery Fleets Counting on Hyperlocal Weather Forecasts

  Imagine a weather report so precise it provides wind-gust forecasts for individual city blocks. Such micro-weather data may soon become a reality—and a necessity for future fleets of delivery drones. As Amazon.com Inc., United Parcel Service Inc., Domino’s Pizza …

Why Drivers Fear Driverless Cars

Davy Andrews is so adept at technology that he’s become the de facto IT troubleshooter in his office. But there’s one bit of tech he won’t touch: self-driving cars. “I wouldn’t want to be the first to jump into something …

WCRI Researchers Compare States on Injured Workers Returning to Work

From 10 to 18 percent of injured workers never reach “substantial return to work,” according to new research by the Workers Compensation Research Institute (WCRI) comparing outcomes for injured workers in six states. In its study, Comparing Outcomes for Injured Workers, …

Rocket Ship, Flying Vehicle or Driverless Car? Guess Which Americans Fear Most

If the future were now, American travelers would feel safer on a rocket to space than being a passenger in a self-driving or autonomous vehicle, a survey by travel and specialty insurer Allianz Global Assistance USA finds. With experimental transport …