Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Bill Aims to Drive Down New York City Taxi Drivers’ Insurance Costs. But Will It?
Feb 11 2025 // The New York City Council’s transportation committee heard testimony Monday on a proposal to lower the Personal Injury Protection (PIP) insurance coverage requirement for for-hire drivers from $200,000 to $50,000 per...
Smart Choice Agency Network Reports Record Growth in 2024
Feb 11 2025 // Smart Choice, a North Carolina-based firm that works with independent agencies, reported record growth, with more than 1,450 agencies joining the network in 2024. Last year marked the eighth-straight year with more than...
CFPB Disarray Puts Future Fintech, Bank Oversight Into Question
Feb 10 2025 // Less than two months ago, the Consumer Financial Protection Bureau was pumping out lawsuits against some of the world’s biggest firms, suing JPMorgan Chase & Co., Bank of America Corp. and Walmart Inc. within a...
First Chicago Insurance Group’s Credit Ratings Upgraded to Positive Outlook by AM Best
Feb 10 2025 // AM Best has revised the outlooks to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of “bb”...
Florida OIR Approves Smaller Average Rate Increases for Citizens This Year
Feb 10 2025 // Just as many Florida property insurers had hoped to see a boost to the private market with a maximum rate increase for Citizens Property Insurance Corp., state regulators have slashed the rate hike by more than half. After...
Slower Growth but Surplus Lines Premiums Still Up 12% in 2024
Feb 6 2025 // The excess and surplus lines market continued to grow in 2024, with premium reaching more than $81 billion, according to annual reports from 15 state stamping offices released by the Wholesale & Specialty Insurance...
Allstate Q4 Income Up 30% Despite High Hurricane-Related Losses
Feb 5 2025 // Allstate Corp. fourth quarter net income applicable to common shareholders increased 30% to about $1.9 billion, and the insurer finished 2024 with net income of $4.6 billion compared to a loss of $316 million the prior...
UK Commits £2.65 Billion to Tackle Rising Flood Risk
Feb 5 2025 // The UK will spend £2.65 billion ($3.31 billion) on flood defenses to protect homes from the growing risks posed by climate-fueled storms and rainfall, according to a government announcement on Tuesday. The investment on...
VIDEO: Uber Backed New York Ad Targets ‘Hidden Tax’ Driving Up Insurance Costs
Feb 5 2025 // A group calling for reforms to lower insurance costs across New York has launched its first ad. The ad from newly-formed Citizens for Affordable Rates (CAR) blames “special interests in Albany” along with...
Sica Fletcher Index: Total Agency-Broker M&A Revenue Down 26% in 2024
Feb 4 2025 // The 22 acquirers that make up the Sica Fletcher Index were involved in 533 agent-broker deals in 2024, down 6% from 2023. Members completed 146 acquisitions during the fourth quarter 2024. This was 11% less than a year...
WTW Reports Net Loss in 2024 With Organic Revenue Growth of 5%
Feb 4 2025 // WTW reported net Income for the fourth quarter of 2024 of $1.25 billion, compared to net income of $623 million in the same period in 2023. However, the broker saw a net loss for the year of $88 million, compared with net...
Securities Class Actions Increase Again in 2024; AI-Related Filings Double
Feb 4 2025 // The number of securities class action filings increased for the second consecutive year in 2024, with artificial intelligence (AI)-related filings more than doubling from the previous year, according to a new report...
Tesla Sees Another Quarterly Decline in California Auto Sales Report
Feb 3 2025 // Tesla sales fell in California in the fourth quarter of 2024, bringing down overall sales of the popular vehicle further for the year, according to a new report. The California New Car Dealers Association released its...
Will Georgia Gov. Kemp’s Move to Curb Lawsuits Keep Insurance Rates From Rising?
Feb 3 2025 // Georgia Gov. Brian Kemp on Thursday reiterated his simple pitch for lawsuit limits: They’ll halt rising insurance costs. The reality, though, is more complicated. Changes could reduce liability insurance costs for...
AM Best Revises Outlook to Positive for RLI
Jan 31 2025 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of the...
Aon Reports Organic Growth of 6% for 4th Quarter and Full-Year 2024
Jan 31 2025 // Aon reported net income attributable to shareholders of $716 million during the fourth quarter, a 44% increase from the $498 million reported in Q4 2023. For full-year 2024, net income attributable to shareholders...
Marsh McLennan Reports Organic Growth of 7% During Q4 and Full-Year 2024
Jan 30 2025 // Marsh McLennan reported fourth quarter net income of $788 million, compared with $756 billion during Q4 2023. For the full-year 2024, MMC had net income of $4.1 billion, compared with $3.8 billion reported for FY 2023....
Generali to Pay Out Over €7 Billion in Dividends by 2027
Jan 30 2025 // Assicurazioni Generali SpA plans to return more than €7 billion ($7.3 billion) in dividends and buy back at least €1.5 billion in shares by 2027, as Chief Executive Officer Philippe Donnet pursues growth in asset...
Theft and Violence in UK Retail Soar to Record Levels, Survey Shows
Jan 30 2025 // Theft and violence against retail workers in Britain soared to record levels last year and are “out of control,” driven partly by criminal gangs, according to a report published on Thursday. Industry body the...
Growth of Pet Insurance Continues as Market Could Reach $4.5B
Jan 29 2025 // Any pet owner who has been hit by sticker shock at the vet’s office understands why pet insurance is a booming business. Pet health insurance purchases have been up over the last several years, dramatically expanding...
