Insurance Journal » Research and Trends http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Wed, 28 Jan 2015 13:24:55 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Securities Class Action Lawsuits, Settlements Get Smaller http://www.insurancejournal.com/news/national/2015/01/27/355527.htm Wed, 28 Jan 2015 01:00:37 +0000 http://www.insurancejournal.com/?p=355527 The size of federal class action lawsuits accusing companies of securities fraud has dropped significantly, new studies show, as the bull market in stocks approaches its sixth birthday. Losses claimed by shareholders, measured by how much stock prices fell when …

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Characteristics of ‘Charlie Hebdo’ Attack Thwarted Counter-Terrorism Efforts: RMS http://www.insurancejournal.com/news/international/2015/01/26/355333.htm Mon, 26 Jan 2015 13:48:18 +0000 http://www.insurancejournal.com/?p=355333 A number of unique characteristics of the January 7 terrorist attack against satirical French magazine “Charlie Hebdo” allowed terrorists to succeed despite counter-terrorism efforts, according to a new report by Dr. Gordon Woo, catastrophist and terrorism risk expert at RMS, the …

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Not All Program Market Competition Is Good http://www.insurancejournal.com/news/national/2015/01/26/355323.htm Mon, 26 Jan 2015 12:56:07 +0000 http://www.insurancejournal.com/?p=355323 The program insurance business market has enjoyed years of growth and appears on track to continue its expansion. However, while program business is attracting new interest, some participants are cautioning that not all competition is good. Program business premiums grew …

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Study Finds Workplace Trust a Predictor of Comp Outcomes in Arkansas http://www.insurancejournal.com/news/southcentral/2015/01/25/354966.htm Sun, 25 Jan 2015 19:06:32 +0000 http://www.insurancejournal.com/?p=354966 A new study from the Workers Compensation Research Institute (WCRI) identified new predictors of worker outcomes that can help public officials, payors, and health care providers in Arkansas improve the treatment and communication an injured worker receives after an injury ― leading …

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Study Finds New Predictors of Workers’ Comp Outcomes in Iowa http://www.insurancejournal.com/news/midwest/2015/01/23/354970.htm Fri, 23 Jan 2015 06:10:03 +0000 http://www.insurancejournal.com/?p=354970 A new study from the Workers Compensation Research Institute (WCRI) identified new predictors of worker outcomes that can help public officials, payors, and health care providers in Iowa improve the treatment and communication an injured worker receives after an injury ― leading …

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Report: High, Wide Dunes Worked During Superstorm Sandy http://www.insurancejournal.com/news/east/2015/01/22/354914.htm Thu, 22 Jan 2015 18:40:29 +0000 http://www.insurancejournal.com/?p=354914 A study by a leading coastal science center lends new support to New Jersey’s efforts to build protective sand dunes along its 127-mile coast. The Coastal Research Center at the Richard Stockton College of New Jersey studied the state’s beaches …

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Study Finds Big Disparities in Local Prices for Hip, Knee Surgeries http://www.insurancejournal.com/news/national/2015/01/22/354929.htm Thu, 22 Jan 2015 16:43:25 +0000 http://www.insurancejournal.com/?p=354929 Hip and knee replacements, two of the fastest-growing U.S. medical procedures, are subject to huge – and apparently random – price variations within the same geographical areas, a new insurance industry study said this week. The study by Blue Cross …

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Cyber Attack Retaliation Is Government’s Job: Poll http://www.insurancejournal.com/news/national/2015/01/22/354846.htm Thu, 22 Jan 2015 13:05:29 +0000 http://www.insurancejournal.com/?p=354846 At a time when most people aren’t confident their workplace is safe from a hacking attack, respondents to the Bloomberg Global Poll are more certain about one thing: Vengeance is not mine. Companies shouldn’t get a pass from the government …

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Willis Exec Warns on Increasing Urbanization Risks http://www.insurancejournal.com/news/international/2015/01/22/354826.htm Thu, 22 Jan 2015 10:51:46 +0000 http://www.insurancejournal.com/?p=354826 One of the principal concerns for the movers and shakers meeting in Davos has been the increasing tendency of global populations to move from villages and farms to cities. With up to three-quarters of the global population expected to live …

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Construction Insurance Trends to Watch in 2015 http://www.insurancejournal.com/news/national/2015/01/21/354723.htm Wed, 21 Jan 2015 14:46:50 +0000 http://www.insurancejournal.com/?p=354723 Bolstered by a resurgent economy and renewed optimism, the construction industry is showing signs of significant growth. Payrolls are increasing, more projects are coming online and the scope of work is increasing. Ample insurance coverage is available for both commercial …

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WCIRB: Continued Increase in California Claim Frequency http://www.insurancejournal.com/news/west/2015/01/20/354450.htm Tue, 20 Jan 2015 16:27:41 +0000 http://www.insurancejournal.com/?p=354450 Workers’ compensation indemnity claim frequency in California has continued to rise unlike in most other states, according to the California Workers’ Compensation Insurance Rating Bureau. The WCIRB recently issued an update to its Analysis of Changes in Indemnity Claim Frequency report, which …

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Aon Sees Healthcare Workers’ Compensation Claims Dropping http://www.insurancejournal.com/news/national/2015/01/19/354377.htm Tue, 20 Jan 2015 02:41:09 +0000 http://www.insurancejournal.com/?p=354377 Workers’ compensation costs and claims frequency in the healthcare sector are going down, according to a report that studied 1,1150 facilities in 11 states. Aon Risk Solutions’ Health Care Workers’ Compensation Barometer report projects that workers’ compensation loss rates and …

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Top 10 Causes of Workplace Injuries http://www.insurancejournal.com/news/national/2015/01/16/354285.htm Fri, 16 Jan 2015 14:46:43 +0000 http://www.insurancejournal.com/?p=354285 Overexertion and falls account for more than $25 billion in workers’ compensation costs in the U.S. Being hurt by an object or equipment ranks third in workplace injury causes and claims costs in the Liberty Mutual Research Institute for Safety’s …

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Catastrophe Bond Issuance Reaches Record Levels: Aon Benfield Report http://www.insurancejournal.com/news/international/2015/01/16/354271.htm Fri, 16 Jan 2015 12:42:55 +0000 http://www.insurancejournal.com/?p=354271 Property catastrophe bond issuance for the fourth quarter 2014 stood at USD$2.1 billion across six separate transactions, contributing to a record annual property catastrophe bond issuance of USD$8.0 billion, according to a report published by Aon Benfield Securities, the investment …

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Allianz Survey: Businesses Face New Challenges in Interconnected World http://www.insurancejournal.com/news/international/2015/01/15/354188.htm Thu, 15 Jan 2015 18:29:54 +0000 http://www.insurancejournal.com/?p=354188 Business interruption (BI) and supply chain, natural catastrophes and fire/explosion are the major risks that occupy the attention of companies at the start of 2015, according to the fourth annual “Allianz Risk Barometer 2015.” The Risk Barometer details the top 10 global …

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P/C Insurers See Surge in Cyber Insurance, M&A Activity in 2015 http://www.insurancejournal.com/news/national/2015/01/15/354139.htm Thu, 15 Jan 2015 14:07:17 +0000 http://www.insurancejournal.com/?p=354139 Property/casualty insurance executives overwhelmingly predict growth in both cyber insurance and merger and acquisitions (M&A) activity in 2015, according to a new Insurance Information Institute annual survey. I.I.I.’s survey of executives attending its annual Property/Casualty Insurance Joint Industry Forum also …

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Snow Problem When It Comes to Self-Driving Cars, Says Google http://www.insurancejournal.com/news/national/2015/01/15/354135.htm Thu, 15 Jan 2015 13:44:14 +0000 http://www.insurancejournal.com/?p=354135 Google Inc. sees Detroit’s snow as a bigger barrier than Washington’s regulators for its self-driving car. The technology giant doesn’t intend to offer a self-driving car to areas where it snows in the near term, Chris Urmson, director of Google’s …

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AIR’s ‘Global Exceedance Probability Curve’ Report Shows Industry Loss Metrics http://www.insurancejournal.com/news/international/2015/01/15/354125.htm Thu, 15 Jan 2015 11:49:53 +0000 http://www.insurancejournal.com/?p=354125 Catastrophe modeling firm AIR Worldwide estimated that the 1 percent exceedance probability loss (or the 100-year return period loss) is approximately $231.5 billion and the long-term average annual loss from natural catastrophes and terrorism is $72.6 billion. These statistics were …

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A.M. Best: Reinsurers Need Underwriting Discipline in Competitive Market http://www.insurancejournal.com/news/international/2015/01/14/354005.htm Wed, 14 Jan 2015 14:50:12 +0000 http://www.insurancejournal.com/?p=354005 Increasing competition and lower underwriting margins in the reinsurance market highlights the importance of disciplined underwriting, according to an A.M. Best briefing entitled “Global Reinsurers: Who Will Gain Despite All the Pain?” “The market is expected to remain challenging in …

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Paris Terror Attacks Not Unexpected; Demand for Political Risk Cover Is Up http://www.insurancejournal.com/news/international/2015/01/14/353997.htm Wed, 14 Jan 2015 08:42:07 +0000 http://www.insurancejournal.com/?p=353997 Terrorism, security and political risk experts from Willis provided some broad observations about last week’s terror attacks in Paris and how insurance buyers are responding. “The tragic events in Paris are a continuation of a pattern that has been proliferating …

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Patent Lawsuits Drop But Tech Firms Still Top Target http://www.insurancejournal.com/news/national/2015/01/13/353902.htm Tue, 13 Jan 2015 12:58:45 +0000 http://www.insurancejournal.com/?p=353902 Technology companies like Google Inc. and Apple Inc. remain the biggest targets of patent lawsuits even as the overall litigation totals dropped last year, according to a study released by Unified Patents. The number of patent lawsuits filed fell 17 …

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Independent Agents See Carriers’ Online Sales As Major Threat: Accenture Survey http://www.insurancejournal.com/news/national/2015/01/11/353721.htm Mon, 12 Jan 2015 00:18:27 +0000 http://www.insurancejournal.com/?p=353721 Independent insurance agents’ strengths in customer service and risk management could be challenged by changing consumer behaviors, new technologies and the evolving competitive landscape, according to a new report by Accenture. The report is based on a survey of more …

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Florida PIP Report Shows Reduction in Rates and Fraud http://www.insurancejournal.com/news/southeast/2015/01/09/353615.htm Fri, 09 Jan 2015 16:50:40 +0000 http://www.insurancejournal.com/?p=353615 Florida’s attempt to lower the cost of personal injury protection (PIP) automobile coverage is making progress as insurers’ rates have declined due in part to lower losses and fewer fraudulent claims. The Florida Office of Insurance Regulation released an annual …

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Google Poised to Enter U.S. Auto Insurance Market: Report http://www.insurancejournal.com/news/national/2015/01/09/353593.htm Fri, 09 Jan 2015 14:32:56 +0000 http://www.insurancejournal.com/?p=353593 Giant search engine Google, which already offers auto insurance online in the United Kingdom, could soon be selling auto insurance online in the U.S. Google Compare Auto Insurance Services Inc., its online auto insurance shopper, has been licensed to sell …

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Driverless Cars Are Closer, Bigger Than They Appear http://www.insurancejournal.com/news/national/2015/01/09/353567.htm Fri, 09 Jan 2015 11:31:32 +0000 http://www.insurancejournal.com/?p=353567 Vehicles that drive themselves on the freeway or take over in traffic jams may be on the road in large numbers by 2017 and autonomous cars might create a $42 billion market for the technology by 2025, Boston Consulting Group …

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How States Rate on Insurance Regulation, ‘A’ to ‘F’ http://www.insurancejournal.com/news/national/2015/01/08/353430.htm Thu, 08 Jan 2015 16:07:54 +0000 http://www.insurancejournal.com/?p=353430 Vermont gets a grade of “A+” and California and North Carolina get grades of “F” in the annual report card on state insurance regulation issued by the free market think tank, The R Street Institute. The 2014 Insurance Regulation Report …

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Renewals See Lower Pricing, Broader Coverage, Reports Guy Carpenter http://www.insurancejournal.com/news/international/2015/01/07/353147.htm Wed, 07 Jan 2015 14:13:22 +0000 http://www.insurancejournal.com/?p=353147 Guy Carpenter & Company reports reinsurance pricing fell at the January 1, 2015 renewals in many segments, affecting almost all lines of business and geographies, continuing recent renewal trends. According to Guy Carpenter’s 2015 global renewals report, entitled “Shaping the …

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Study Shows Car Crashes Rise With Daylight Saving Time http://www.insurancejournal.com/news/national/2015/01/07/351742.htm Wed, 07 Jan 2015 08:00:08 +0000 http://www.insurancejournal.com/?p=351742 An economist has a warning for the more than 1.5 billion people living in countries that observe daylight saving time: Springing forward may be bad for your health. The wisdom of moving clocks an hour forward during summer months has …

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How Much Will Drivers Pay for High-Tech Devices? http://www.insurancejournal.com/news/national/2015/01/05/351740.htm Mon, 05 Jan 2015 23:55:53 +0000 http://www.insurancejournal.com/?p=351740 A majority of U.S. drivers are willing to pay as much as $1,499 to have high-tech entertainment and safety devices in their vehicles as consumers demand more connectivity, according to a Harris Poll. Back-up cameras, USB ports and smartphone charging …

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U.S. Insurers Still Funding Asbestos, Environmental Liabilities: A.M. Best http://www.insurancejournal.com/news/national/2015/01/05/351679.htm Mon, 05 Jan 2015 16:25:29 +0000 http://www.insurancejournal.com/?p=351679 The current estimate of net asbestos losses for the U.S. property/casualty industry remains at $85 billion, with net environmental losses estimated at $42 billion, according to a new Best’s Special Report. According to the Best’s report titled “U.S. Insurers Continue …

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