Insurance Journal » Research and Trends http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 30 Sep 2014 19:47:38 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Top 30 Private Auto Insurers: SNL http://www.insurancejournal.com/news/national/2014/09/26/341685.htm Fri, 26 Sep 2014 13:09:46 +0000 http://www.insurancejournal.com/?p=341685 CSAA Insurance Exchange, which sells private auto insurance to AAA members in about 25 states, experienced double-digit year-over-year growth in personal auto business, far outpacing other top writers in the second quarter, a new analysis by SNL Financial shows. SNL …

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Plymouth Rock Releases Study on New Jersey Road Rage http://www.insurancejournal.com/news/east/2014/09/24/341479.htm Wed, 24 Sep 2014 16:16:27 +0000 http://www.insurancejournal.com/?p=341479 A new study from Plymouth Rock Assurance reveals that virtually all drivers polled have witnessed provocative driving behavior or road rage in New Jersey. Behaviors reported include unsafe and aggressive driving sometimes even leading to a physical altercation. The survey …

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Surplus Lines Rate Hikes to Slow As Competition Grows http://www.insurancejournal.com/news/national/2014/09/23/341346.htm Tue, 23 Sep 2014 12:28:34 +0000 http://www.insurancejournal.com/?p=341346 Two insurance rating entities see slowing rate increases for the surplus lines segment in the coming months as competition grows. Moody’s Investors Service said that the U.S. excess and surplus lines sector is experiencing growth and strong profitability, thanks to …

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How Spouse’s Personality Influences Job Success http://www.insurancejournal.com/news/national/2014/09/22/341255.htm Mon, 22 Sep 2014 14:53:30 +0000 http://www.insurancejournal.com/?p=341255 As people spend more and more time in the workplace, it’s natural for co-workers to develop close bonds — what’s often referred to as a “workplace spouse” or an “office wife.” But when it comes to pay raises, promotions and …

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NOAA Hopes Drones Get Data from Hurricane Edouard http://www.insurancejournal.com/news/national/2014/09/18/340991.htm Thu, 18 Sep 2014 14:57:06 +0000 http://www.insurancejournal.com/?p=340991 U.S. government scientists are launching winged drones into Hurricane Edouard, hoping to collect data that could help forecasters understand what makes some storms strengthen into monsters while others fade away. This week’s launches mark the first time that unmanned aircraft …

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Reinsurance Rendez-Vous: Data Tools Help Identify Risks http://www.insurancejournal.com/news/international/2014/09/18/340956.htm Thu, 18 Sep 2014 12:28:39 +0000 http://www.insurancejournal.com/?p=340956 Insurance companies are increasingly turning to “big data” from satellites, social media and even cigarette sales at gas stations to help identify risks and build up customer profiles, according to reinsurers attending the annual Monte Carlo Reinsurance Rendez-vous this week. …

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Demand for Liability Insurance to Rise Again: Swiss Re http://www.insurancejournal.com/news/national/2014/09/15/340428.htm Mon, 15 Sep 2014 12:36:04 +0000 http://www.insurancejournal.com/?p=340428 Claims severity and demand for liability insurance will increase as economic growth accelerates and because of technological, social and regulatory changes, according to a new report from Swiss Re. Cyber risk, hydrofracking and autonomous cars will likely be among the …

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How Cybercriminals Attack Small Businesses — and 10 Ways to Stop Them http://www.insurancejournal.com/news/national/2014/09/15/340352.htm Mon, 15 Sep 2014 10:00:00 +0000 http://www.insurancejournal.com/?p=340352 At a recent “Hacker Lab” event, “white hat” hackers revealed how cybercriminals work — and what businesses can do to protect themselves. The multimedia presentation used a simulated small business system to demonstrate how hackers choose their targets, how they …

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Florida Study Finds Recreational Fishermen Lost $585M in Gulf Oil Spill http://www.insurancejournal.com/news/southeast/2014/09/11/340197.htm Thu, 11 Sep 2014 15:06:46 +0000 http://www.insurancejournal.com/?p=340197 Recreational anglers who normally fish in the Gulf lost up to $585 million from lost fishing opportunities in the year of the Deepwater Horizon oil spill and could be entitled to compensation, according to a new University of Florida study. …

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The State of Obesity in U.S. http://www.insurancejournal.com/news/national/2014/09/11/340179.htm Thu, 11 Sep 2014 13:26:34 +0000 http://www.insurancejournal.com/?p=340179 After decades of rising obesity rates among adults, the rate of increase is beginning to slow, but rates remain far too high and disparities persist, according to a new report. Adult obesity rates increased in six states and did not …

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Millennials Aspire to Be Workplace Leaders; Seek Training: Survey http://www.insurancejournal.com/news/national/2014/09/11/340176.htm Thu, 11 Sep 2014 12:58:13 +0000 http://www.insurancejournal.com/?p=340176 As the 80 million millennials (ages 18-33) start to play a larger role in the U.S. workplace, they aspire to lead in business in the next five years, according to a new survey. The Hartford’s 2014 Millennial Leadership Survey found …

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Aon Benfield’s Impact Forecasting Adds PERILS’ Exposure Data to Europe Model http://www.insurancejournal.com/news/international/2014/09/11/340168.htm Thu, 11 Sep 2014 10:24:15 +0000 http://www.insurancejournal.com/?p=340168 The PERILS Windstorm Exposure data for Europe is now available in the Impact Forecasting ELEMENTS format. In a telephone interview Adam Podlaha, head of Aon Benfield lmpact Forecasting, said that Aon Benfield has licensed the use of the PERILS data …

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Reinsurance Alternative Capital Now 20% of Cat Market: Aon Benfield ILS Report http://www.insurancejournal.com/news/international/2014/09/11/340166.htm Thu, 11 Sep 2014 10:20:01 +0000 http://www.insurancejournal.com/?p=340166 Alternative capital has captured approximately a 20 percent market share of property catastrophe reinsurance volume. That news came our of Aon Benfield Securities, which issued its annual report on the insurance-linked securities (ILS) sector and the key trends witnessed in …

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States Ranked by Risk of Damage from Natural Hazards: CoreLogic http://www.insurancejournal.com/news/national/2014/09/10/340082.htm Wed, 10 Sep 2014 15:05:08 +0000 http://www.insurancejournal.com/?p=340082 Florida, Rhode Island, Louisiana, California and Massachusetts are the top 5 states for exposure to multiple natural hazards, according to an analysis by CoreLogic, a property data and analytics firm. Michigan, West Virginia, New York, North Dakota and Vermont have …

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More Pilots in Crashes Testing Positive for Prescription, Other Drugs http://www.insurancejournal.com/news/national/2014/09/10/340038.htm Wed, 10 Sep 2014 10:01:26 +0000 http://www.insurancejournal.com/?p=340038 Four times as many pilots killed in airplane crashes tested positive for drugs over the past two decades, tracking a broader societal trend in the use of antihistamines, painkillers and marijuana. While most of the substances wouldn’t affect the ability …

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Commercial Price Increase Slowdown Carried Into Q2 with Few Exceptions http://www.insurancejournal.com/news/national/2014/09/09/339994.htm Tue, 09 Sep 2014 16:30:01 +0000 http://www.insurancejournal.com/?p=339994 Commercial insurance prices continued to moderate in the 2014 second quarter. This time, they inched up 3 percent in aggregate, versus a 4 percent increase in the first three months of this year, a new Towers Watson survey concluded. Thus …

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Report from California Agency Looks at Millennials, Baby Boomers http://www.insurancejournal.com/news/west/2014/09/08/339938.htm Mon, 08 Sep 2014 20:28:27 +0000 http://www.insurancejournal.com/?p=339938 Millennials are driving a greater need for a more flexible auto insurance market, while Baby Boomers are proving new opportunities for independent agents, according to a study from a general agency headquartered in San Diego, Calif. A study from Personable General …

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U.S. Economic Losses Due to Napa Quake, August Floods Top $4 Billion: Aon http://www.insurancejournal.com/news/national/2014/09/08/339847.htm Mon, 08 Sep 2014 13:14:31 +0000 http://www.insurancejournal.com/?p=339847 As far as natural perils go, August was mostly about earthquakes, along with a few tropical storms and typhoons around the world to add to the trouble, according to Aon Benfield’s Impact Forecasting in its latest global catastrophe report. Earthquake …

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Usage-Based Insurance Overcoming Privacy Concerns, Gaining Traction http://www.insurancejournal.com/news/national/2014/09/05/339731.htm Fri, 05 Sep 2014 12:25:54 +0000 http://www.insurancejournal.com/?p=339731 Consumers as well as commercial fleet managers are becoming more accepting of usage-based insurance (UBI) in which a telematics device is used to track driving behavior as safety and savings benefits appear to be trumping concerns over privacy. Personal auto …

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Though Productive and More Educated, Ohio Workers Earning Less http://www.insurancejournal.com/news/midwest/2014/09/05/339675.htm Fri, 05 Sep 2014 05:11:01 +0000 http://www.insurancejournal.com/?p=339675 Ohio workers are more productive and better educated these days, yet they aren’t necessarily making more money as a result, according to a new report. Ohio productivity grew by nearly 67 percent between 1979 and 2013, while median hourly wages …

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$35M in Crops Lost to Flooding in Arkansas, Study Says http://www.insurancejournal.com/news/southcentral/2014/09/04/339644.htm Thu, 04 Sep 2014 16:49:41 +0000 http://www.insurancejournal.com/?p=339644 A University of Arkansas study finds flooding that began in late June will lead to millions of dollars in lost crop value for Arkansas farmers. Farmers in 10 Arkansas counties are expected to lose more than $35 million in crop …

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Over 1M Mass. Residents Had Personal Data Compromised in 2013: Report http://www.insurancejournal.com/news/east/2014/09/04/339629.htm Thu, 04 Sep 2014 16:33:43 +0000 http://www.insurancejournal.com/?p=339629 Over a million Massachusetts residents had their personal information compromised last year, according to a new report issued today by the state’s Office of Consumer Affairs and Business Regulation (OCABR). The largest data breach in 2013 was reported to OCABR …

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WCRI Study Examines Trends in N.Y. Workers’ Comp System http://www.insurancejournal.com/news/east/2014/09/04/339621.htm Thu, 04 Sep 2014 15:58:47 +0000 http://www.insurancejournal.com/?p=339621 The Workers Compensation Research Institute (WCRI) in Massachusetts has published a new report that examines the performance of the New York workers’ compensation system following reforms enacted in 2007. The new WCRI study, titled “Monitoring Trends in the New York …

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Health Care Spending in Massachusetts Rising Faster Than Inflation http://www.insurancejournal.com/news/east/2014/09/04/339610.htm Thu, 04 Sep 2014 15:34:24 +0000 http://www.insurancejournal.com/?p=339610 A new report says health care spending in Massachusetts continues to grow faster than the rate of inflation. The report is from the Center for Health Information and Analysis, created under Massachusetts state law in 2012 to monitor health care …

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25% of Americans Have Medical Debt; 55% Worry About It: Bankrate.com http://www.insurancejournal.com/news/national/2014/09/04/339499.htm Thu, 04 Sep 2014 12:47:24 +0000 http://www.insurancejournal.com/?p=339499 Twenty five percent of Americans say they currently have more medical debt than emergency savings, according to a Bankrate.com report.  This number nearly doubles (44%) among those earning less than $30,000 per year. Also, according to the report,  people who …

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Study: Conn. Occupational Illness Rates Higher Than U.S. Average http://www.insurancejournal.com/news/east/2014/09/03/339413.htm Wed, 03 Sep 2014 16:59:04 +0000 http://www.insurancejournal.com/?p=339413 Occupational illness rates are higher for Connecticut workers than the national average, though the rate has declined, a study by a University of Connecticut health expert says. The overall illness rate in 2012 was 21.9 cases per 10,000 workers, a …

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3 Reasons Congress Should Renew TRIA http://www.insurancejournal.com/news/national/2014/09/03/339374.htm Wed, 03 Sep 2014 15:44:59 +0000 http://www.insurancejournal.com/?p=339374 U.S. insurance markets, like the rest of the nation, were caught off guard by the Sept.11, 2001 terrorist attacks. Loss of life and property led to an estimated $32.5 billion dollars in insured losses – $43 billion in 2013 dollars …

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Young Male, Female Drivers Differ in Types of Crashes: Study http://www.insurancejournal.com/news/national/2014/08/28/338925.htm Thu, 28 Aug 2014 19:00:13 +0000 http://www.insurancejournal.com/?p=338925 Young female drivers have more crashes at intersections and collisions with pedestrians than do young male drivers, who have more off-road and nighttime accidents than young female drivers. Gender is often related to what type of severe or fatal crash …

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Third-Party Bad Faith Claims Add $800M to Florida Auto Insurance Costs: IRC http://www.insurancejournal.com/news/southeast/2014/08/28/338937.htm Thu, 28 Aug 2014 15:48:00 +0000 http://www.insurancejournal.com/?p=338937 Florida’s third-party bad-faith lawsuit environment may have resulted in more than $800 million in additional auto liability claim payments in 2013. The industry-supported Insurance Research Council (IRC) in a new report estimates that this cost averages approximately $79 in additional …

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Employment Growth Leads to Workers’ Comp Benefit, Cost Uptick http://www.insurancejournal.com/news/national/2014/08/26/338577.htm Tue, 26 Aug 2014 15:51:49 +0000 http://www.insurancejournal.com/?p=338577 Workers’ compensation benefits rose by 1.3 percent to $61.9 billion in 2012, while employer costs rose by 6.9 percent to $83.2 billion, according to a report released today by the National Academy of Social Insurance (the Academy). This growth in …

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