Insurance Journal » Research and Trends http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 19 Dec 2014 20:57:32 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Private Auto Premiums See Largest Q3 Growth in 10 Years: SNL http://www.insurancejournal.com/news/national/2014/12/19/350680.htm Fri, 19 Dec 2014 16:48:31 +0000 http://www.insurancejournal.com/?p=350680 Private auto insurance industry direct premiums written rose 5.13 percent in the third quarter of 2014, the largest third-quarter year-over-year growth in the past 10 years, according to an analysis by SNL Financial. The 30 largest auto writers by market …

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Mass. Vehicle Thefts Down 90% From Peak in 1975, Report Shows http://www.insurancejournal.com/news/east/2014/12/17/350460.htm Wed, 17 Dec 2014 20:14:22 +0000 http://www.insurancejournal.com/?p=350460 From its peak auto theft year in 1975 when 91,563 vehicles were stolen, Massachusetts has experienced a significant decline ending 2013 with 9,122 thefts. That’s a reduction of 90 percent since 1975, according to the National Insurance Crime Bureau (NICB). …

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NICB: Vehicle Thefts in New York Down 92% From Peak in 1990 http://www.insurancejournal.com/news/east/2014/12/17/350442.htm Wed, 17 Dec 2014 17:53:53 +0000 http://www.insurancejournal.com/?p=350442 From its peak auto theft year in 1990 when 187,591 vehicles were stolen, New York has experienced a significant decline ending 2013 with 15,482 thefts. That’s a reduction of 92 percent since 1990, according to the National Insurance Crime Bureau …

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Study: Heart Attacks Rose in New Jersey in Sandy’s Wake http://www.insurancejournal.com/news/east/2014/12/15/350090.htm Mon, 15 Dec 2014 18:51:01 +0000 http://www.insurancejournal.com/?p=350090 Rutgers University researchers in New Jersey say there was a spike in heart attacks and strokes in the New Jersey counties hardest hit by Superstorm Sandy. Robert Wood Johnson Medical School compared heart attacks and strokes and the deaths they …

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A.M. Best: Global Re Stocks Underperform as Catastrophe Prices Drop http://www.insurancejournal.com/news/international/2014/12/15/350054.htm Mon, 15 Dec 2014 10:07:31 +0000 http://www.insurancejournal.com/?p=350054 Stocks for publicly traded reinsurance companies (including the four large European reinsurers) performed well below the overall market through the third quarter of 2014, driven in part by the increased volatility in the overall equity markets and amplified by continued …

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Aon Report Identifies Key Risks for Financial Institutions in EMEA http://www.insurancejournal.com/news/international/2014/12/12/349901.htm Fri, 12 Dec 2014 14:03:25 +0000 http://www.insurancejournal.com/?p=349901 Understanding and managing risk is increasingly a critical success factor for financial institutions, according to a report on financial institutions issued by Aon Risk Solutions, the risk management business of Aon plc. Entitled “2014 EMEA Financial Institutions Industry Report,” the …

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Commercial Insurance Hits Pricing Lull in Q3: Towers Watson http://www.insurancejournal.com/news/national/2014/12/09/349322.htm Tue, 09 Dec 2014 15:56:42 +0000 http://www.insurancejournal.com/?p=349322 Commercial insurance prices grew on average about three percent in the 2014 third quarter compared to the previous year. That matched last quarter’s uptick and halted more than a year of consecutively falling quarterly price hikes, Towers Watson reported in its …

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High Cost Hinders Progress of Carbon Capture As Climate-Change Fix http://www.insurancejournal.com/news/national/2014/12/09/349295.htm Tue, 09 Dec 2014 14:15:35 +0000 http://www.insurancejournal.com/?p=349295 Scientists know only two credible ways to prevent temperatures from rising to dangerous levels: stop burning fossil fuels or capture and bury the carbon dioxide byproduct before it gets into the atmosphere. The second idea, known in the trade as …

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How and When to Shop for Agency E&O Coverage http://www.insurancejournal.com/news/national/2014/12/09/349291.htm Tue, 09 Dec 2014 13:41:13 +0000 http://www.insurancejournal.com/?p=349291 While many insurance agencies stick with their agency E&O carrier for years, those that do shop around tend to do so when premiums are rising and, according to a recent Insurance Journal survey, more agencies are shopping around now. Premiums …

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African Insurers’ Growth Interests Europe, So. Africa, as Incomes Rise http://www.insurancejournal.com/news/international/2014/12/08/349132.htm Mon, 08 Dec 2014 09:53:51 +0000 http://www.insurancejournal.com/?p=349132 A growing middle class in sub-Saharan Africa is enticing European and South African insurers to buy local firms focusing mainly on life insurance and pensions, in the face of mature markets and strong competition at home. [See also following article] …

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Insurance Industry Is Leader on Climate Change, Report Says http://www.insurancejournal.com/news/national/2014/12/04/348996.htm Fri, 05 Dec 2014 00:16:26 +0000 http://www.insurancejournal.com/?p=348996 The insurance industry is being called out by an international research institution for its progressive attitude on climate change. A white paper put out by the nonprofit Urban Land Institute this week urges the real estate sector and government planners …

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Chubb Survey: Attic Storage Can Cause Homeowner Grief, Hazards http://www.insurancejournal.com/news/national/2014/12/04/348722.htm Thu, 04 Dec 2014 11:00:27 +0000 http://www.insurancejournal.com/?p=348722 Homeowners who don’t pay attention to what’s going on in their attics can face costly damage that can spread throughout their entire home, warns a new survey sponsored by the Chubb Group of Insurance Companies. According to the survey of …

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Hospital Medical Errors Down 17%, Reports HHS http://www.insurancejournal.com/news/national/2014/12/03/348780.htm Wed, 03 Dec 2014 14:09:24 +0000 http://www.insurancejournal.com/?p=348780 A federal review of hospital medical records and other data has found a 17 percent decline in infections, drug mistakes, bed sores and other preventable errors from 2010 to 2013, according to a report. Using methods developed by health care …

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Study Finds Brain Effects in High-School Football Players Without Concussions http://www.insurancejournal.com/news/national/2014/12/02/348642.htm Tue, 02 Dec 2014 13:55:52 +0000 http://www.insurancejournal.com/?p=348642 A single high-school football season of heavy hits, even without a concussion, led to observable brain abnormalities in a study, the latest evidence to raise questions about the long-term consequences of the popular game. The findings from 24 high-school athletes …

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Vaccine Claims System Slow to Compensate Injured http://www.insurancejournal.com/news/national/2014/11/26/348385.htm Wed, 26 Nov 2014 14:32:49 +0000 http://www.insurancejournal.com/?p=348385 All but broken by her son’s violent and unexplained seizures, by so many panicked trips from the crib to the emergency room, Jeffrey McCord’s mom thought her desperate search for both answers and help was finally over. A respected neurologist …

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Smaller Firms Showing Interest in Cyber Liability Coverage: Aspen’s Vitale http://www.insurancejournal.com/news/national/2014/11/25/348198.htm Tue, 25 Nov 2014 15:30:35 +0000 http://www.insurancejournal.com/?p=348198 Cyber liability insurance isn’t just for large corporations anymore. Demand for cyber liability insurance is now coming from middle-sized and small businesses, according to an insurance CEO who believes the market potential is tremendous. “Now we see many, many what …

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Employee Loyalty Highest at Small, Local Businesses http://www.insurancejournal.com/news/national/2014/11/24/347888.htm Mon, 24 Nov 2014 15:00:39 +0000 http://www.insurancejournal.com/?p=347888 Employees of small, locally owned businesses have the highest level of loyalty to their employers — and for rural workers, size and ownership of their company figure even more into their commitment than job satisfaction does, according to Baylor University …

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Whistleblower Tips, Award Amount Increased in 2014, Reports SEC http://www.insurancejournal.com/news/national/2014/11/24/347876.htm Mon, 24 Nov 2014 13:58:01 +0000 http://www.insurancejournal.com/?p=347876 The U.S. Securities and Exchange Commission received more than 3,500 tips from whistleblowers in fiscal year 2014, the largest number received since the program went into effect three years ago. The SEC announced the increase in its Nov. 17 annual …

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How Carriers Are Handling Property Cat Renewals, Terrorism, Ebola: NAPCO http://www.insurancejournal.com/news/national/2014/11/21/347629.htm Fri, 21 Nov 2014 10:03:13 +0000 http://www.insurancejournal.com/?p=347629 Property/catastrophe insurers have been focused on winning new business, which means new customers are seeing bigger price cuts, according to a market report from a wholesale broker specializing in catastrophe risk placements. NAPCO’s Fall 2014 State of the Market report …

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D&O Primary, Excess Layer Pricing Moving in Opposite Directions: Aon http://www.insurancejournal.com/news/national/2014/11/20/347616.htm Thu, 20 Nov 2014 13:47:01 +0000 http://www.insurancejournal.com/?p=347616 Overall price declines for directors and officers liability insurance programs of publicly traded companies continue to be driven by excess-layer price drops, Aon’s Financial Services Group said in a recent report. D&O insurance pricing fell 4.4 percent overall during second-quarter …

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U.S. Employment Discrimination Settlements, Cases Down from Last Year http://www.insurancejournal.com/news/national/2014/11/19/347358.htm Wed, 19 Nov 2014 10:00:02 +0000 http://www.insurancejournal.com/?p=347358 The U.S. Equal Employment Opportunity Commission (EEOC) says it “fought hard to overcome extraordinary fiscal constraints and operational challenges” during the 2014 fiscal year because of sequestration and the government shutdown. Yet the agency, which enforces federal laws prohibiting employment …

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Small Business Insurance Market Primed for Consolidation http://www.insurancejournal.com/news/national/2014/11/18/347328.htm Tue, 18 Nov 2014 16:15:32 +0000 http://www.insurancejournal.com/?p=347328 If heavy competition breeds consolidation, then the property/casualty small business insurance market is ripe for it in the coming years. Both large and small insurers devote lots of attention to the space, but no single company carries more than a …

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More Americans Retiring Later Than They Expected http://www.insurancejournal.com/news/national/2014/11/18/347338.htm Tue, 18 Nov 2014 15:32:44 +0000 http://www.insurancejournal.com/?p=347338 The “Great Recession” of 2008‒2009 took a toll on the retirement expectations of many Americans. According to new research from the Employee Benefit Research Institute (EBRI), there has been a nearly 23-percentage-point drop in workers retiring early or close to …

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Victims Stymied in Access to Others’ Air Bag Liability Settlements http://www.insurancejournal.com/news/national/2014/11/18/347322.htm Tue, 18 Nov 2014 11:38:18 +0000 http://www.insurancejournal.com/?p=347322 Confidential settlements over defective Takata Corp. air bags are sealing off relevant information that other victims could use to pursue injury claims. The accords make financial sense for the settling parties, but Takata and other defendants, including Honda Motor Co., …

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Bicyclist Fatalities Rise As More Urban Workers Pedal to Work http://www.insurancejournal.com/news/national/2014/11/18/347084.htm Tue, 18 Nov 2014 10:00:43 +0000 http://www.insurancejournal.com/?p=347084 The number of bicyclists killed on U.S. roadways is trending upward, particularly for certain subsets of the population, according to a by the Governors Highway Safety Association (GHSA). GHSA’s Spotlight on Highway Safety: Bicyclist Safety notes that yearly bicyclist deaths …

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North Atlantic Hurricanes Can Have Big Impact in the Midwest http://www.insurancejournal.com/news/midwest/2014/11/13/346985.htm Thu, 13 Nov 2014 17:17:19 +0000 http://www.insurancejournal.com/?p=346985 Located hundreds of miles inland from the nearest ocean, the Midwest is unaffected by North Atlantic hurricanes. Or is it? With the Nov. 30 end of the 2014 hurricane season just weeks away, a University of Iowa researcher and his …

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Health Plan Costs Up Slightly; What Employers Are Doing About It http://www.insurancejournal.com/news/national/2014/11/13/346957.htm Thu, 13 Nov 2014 16:09:24 +0000 http://www.insurancejournal.com/?p=346957 In 2014, U.S. companies and their employees saw a slight uptick in the rate of U.S. health care cost increases, according to an analysis by corporate health and benefits consultant Aon Hewitt. After plan design changes and vendor negotiations, the …

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World’s Top 15 Commercial Lines Brokers Write 43% of Business: Finaccord http://www.insurancejournal.com/news/national/2014/11/12/346703.htm Wed, 12 Nov 2014 15:56:28 +0000 http://www.insurancejournal.com/?p=346703 The world’s top 15 insurance brokers write more than 43 percent of the commercial lines property/casualty business globally, according to a new ranking by London research firm Finaccord. The same report says that the top 150 brokers write almost 59 …

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Taiwan’s Cathay Life Acquires Asset Manager, Research Firm Conning http://www.insurancejournal.com/news/national/2014/11/12/346691.htm Wed, 12 Nov 2014 14:37:28 +0000 http://www.insurancejournal.com/?p=346691 Cathay Life Insurance Co. of Taiwan has acquired insurance industry investment and asset manager and research firm Conning Holdings Corp. of Hartford, Conn. and all of its subsidiaries. Under the terms of the agreement, Cathay Life will purchase Conning for …

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Cyber Attacks, Terrorism Are Top Emerging Risks for 2015: Guy Carpenter http://www.insurancejournal.com/news/international/2014/11/12/346692.htm Wed, 12 Nov 2014 14:30:43 +0000 http://www.insurancejournal.com/?p=346692 Cyber attacks and terrorism are ranked among the top emerging risks concerning the (re)insurance industry in the year ahead, according to a survey released by Guy Carpenter & Co. According to the findings, new products, expansion into new geographic markets …

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