Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Outlooks Revised to Negative for Indiana’s NAMIC Insurance
May 15 2020 // AM Best reported it revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of NAMIC Insurance Co. Inc. (NAMICO) in...
Texas Surplus Lines Premium in April Rises to $741.68M
May 14 2020 // Texas surplus lines premium during the month of April 2020 reached $741.68 million, according to the Surplus Lines Stamping Office of Texas (SLTX). This is a 14.8% increase over the same period in 2019, SLTX...
Redmer Reflects on Time as Maryland Insurance Commissioner, Talks Future Plans
May 14 2020 // Maryland Insurance Commissioner Al Redmer Jr. will leave his regulatory role and step into his new position as executive director of Maryland Auto Insurance on Monday, bringing with him a legacy as Maryland’s longest...
Commercial Insurance Rates in Q1 Rise 14%, Even Before Impact of COVID-19: Marsh
May 12 2020 // Global average commercial insurance prices increased 14% in the first quarter of 2020 – but the rate hikes were not due to the COVID-19 pandemic, according to insurance broker Marsh in its quarterly Global Insurance...
New Mexico Forest Official Cites Rising Risk of Human-Caused Wildfires
May 11 2020 // The top administrator of a national forest in northern New Mexico says there’s an elevated risk of human-caused wildfires due to drying conditions and negligence by some forest visitors. Carson National Forest...
National Governments Must Help Provide Insurance for Future Lockdowns: EU Regulator
May 11 2020 // National governments must help provide insurance cover for future lockdowns, the industry’s European Union regulator said on Monday, as the private sector cannot afford to provide such broad coverage on its...
COVID-19 Hits Already-Troubled Nursing Home Insurance Market; Brokers Try to Help
May 10 2020 // Nursing homes are right in the middle of the deadly coronavirus pandemic hitting the U.S, with more than 28%, or nearly 20,000, of the nation’s COVID-19 deaths happening in these long term care facilities, according...
Billions Will Experience ‘Sahara’ Like Heat in Next 50 Years, Report States
May 8 2020 // Roughly a third of the global population could experience an average annual temperature of 84.2 degrees Fahrenheit (29C) in the next 50 years, with temperatures currently found in small part of the planet, mostly...
Global Temperatures in April Matched Warmest on Record: European Climate Group
May 6 2020 // Temperatures in April were on par with the previous warmest April on record four years ago, with extremely high temperatures in some parts of Europe, Greenland and Antarctica. Above-average global temperatures meant April...
Nursing Home Insurance Market In Need of Care
May 4 2020 // Nursing homes are right in the middle of the deadly coronavirus pandemic hitting the U.S, with more than 20%, or 11,000, of the nation’s COVID-19 deaths happening in these long term care facilities, according to a...
Willis Towers Watson Withdraws 2020 Target on COVID-19 Crisis; Q1 Revenues Up 7%
May 1 2020 // Willis Towers Watson is withdrawing its 2020 guidance due to the uncertainties caused by the COVID-19 pandemic. The broker said it will re-assess the guidance once it has a clearer understanding of the depth, duration, and...
Most Firms Have Some Cyber Insurance But Gaps in Coverage Remain: Survey
Apr 30 2020 // The majority of businesses are insured against traditional cyber risks, such as breaches of personal information, but most remain vulnerable to emerging risks, such as malware and ransomware, revealing a potential gap in...
Global Reinsurers See Robust Capital Growth of 15% in 2019: Willis Re
Apr 29 2020 // Total capital dedicated to the global reinsurance industry measured US$605 billion at year-end 2019, reflecting robust 15% year-on-year growth, according to Willis Re’s latest Reinsurance Market Report. This was...
California Workers’ Comp Report Shows Written Premium Down 6% in 2019
Apr 23 2020 // Workers’ compensation written premium in California for calendar year 2019 was 6% below that for calendar year 2018, according to an update on California statewide insurer experience valued as of Dec.31, 2019. The...
SCOR Global P&C Sees Price Increases of 6.6% During April Renewals
Apr 23 2020 // During the April reinsurance renewals, SCOR Global P&C said it grew gross premiums by 5.7% to €504 million, while benefiting from broadly improving market conditions as shown by a 6.6% overall increase in...
As Cyber Risks Grow, So Does the Need for Small Business Coverage
Apr 20 2020 // With cyberattacks on the rise and many small businesses unaware of the dangers, independent insurance agents are in a good position to educate clients about their risks, recommend preventative measures, and provide...
Texas Surplus Lines Premium Increases in Q1 2020
Apr 20 2020 // Premium recorded for the first quarter of 2020 for excess and surplus lines of insurance in Texas is up 14.5% compared with the same period last year, according to the Surplus Lines Stamping Office of Texas...
European Risk Mgmt Group FERMA Supports National Backstops for Future Pandemics
Apr 17 2020 // The Federation of European Risk Management Associations (FERMA) support the development of government backstops to increase financial resilience against future pandemic risks – similar to what already exists in many...
Destruction from Storms Across Southeast ‘Worst in a Decade;’ Death Toll Rises to 30
Apr 15 2020 // Storms that killed more than 30 people in the Southeast, piling fresh misery atop a pandemic, spread across the eastern United States on Monday, leaving more than 1 million homes and businesses without power amid floods...
Cyber Criminals Increasingly Will Target Top Executives in Ransomware Attacks: Report
Apr 14 2020 // Senior executives increasingly will be targeted by cyber criminals looking for ways to steal money from large corporations, according to a report from cyber analytics provider CyberCube. Organized criminals and hackers are...
