Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
India’s Future Group to Sell Stake in Insurance Joint Venture with Generali
Apr 13 2020 // India’s Future Group has picked UBS Group AG to lead the sale of its stake in an insurance joint venture with Italy’s Assicurazioni Generali SpA, according to people familiar with the matter. Future Group is...
Texas Surplus Lines Filings Up 14.5% in Q1 2020 Compared with Q1 2019
Apr 9 2020 // The Surplus Lines Stamping Office of Texas (SLTX) reports that excess and surplus lines insurance premium recorded for the first quarter of 2020 is up 14.5% compare with the same period last year. Additionally, the Q1 2020...
Cyber Insurance Sales to U.S. Businesses Picking Up: Marsh
Apr 6 2020 // The share of businesses buying cyber insurance continued to increase in 2019, driven by growing recognition of cyber threats as a critical business risk, says a new report. Marsh’s 2019 Cyber Insurance Purchasing...
P/C Insurance Outlook Looks Challenging, Uncertain: Fitch Ratings
Apr 6 2020 // North American property/casualty insurers reported improved 2019 operating performance, but near-term performance will likely be more challenging with the onset of coronavirus and the resulting economic impact, according...
The Longer Coronavirus Crisis Lasts, the More Uncertain Is P/C Insurance Outlook
Mar 30 2020 // North American property/casualty insurers reported improved 2019 operating performance, but near-term performance will likely be more challenging with the onset of coronavirus and the resulting economic impact, according...
AM Best: Outlooks Negative for Wisconsin’s McMillan Warner Mutual Insurance
Mar 27 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of McMillan Warner Mutual Insurance Co. (MWM) in...
Favorable Flood Forecast Offers Relief to Parts of Minnesota
Mar 26 2020 // While leaders in Fargo and Moorhead, Minnesota, have been taking steps to limit the coronavirus, it appears they won’t have to deal with a significant flood on top of the pandemic. Fargo Mayor Tim Mahoney tells KFGO...
Cyber Insurance Sales to U.S. Businesses Picking Up: Marsh
Mar 26 2020 // The share of businesses buying cyber insurance continued to increase in 2019, driven by growing recognition of cyber threats as a critical business risk, says a new report. Marsh’s 2019 Cyber Insurance Purchasing...
Pandemic Hampers World’s Weather Forecasts with Halting of Commercial Flights
Mar 26 2020 // The pandemic that has idled scores of commercial flights is having a little-noticed consequence for meteorologists, whose forecasts rely in part on data collected from planes. That means a crucial eye in the sky has...
Massachusetts Contractor to Pay for Clean-Up Costs Following Chemical Explosion
Mar 26 2020 // A Sutton, Mass.-based contractor has agreed to pay $120,000 to reimburse the state for the cost of responding to a 2017 explosion and fire of a backyard shed at a Shrewsbury residential property, Massachusetts Attorney...
Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact
Mar 24 2020 // Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the COVID-19 disruption and...
Liability Insurers Report Rise in Claims Against Architects and Engineers
Mar 24 2020 // Increased billings by architecture and engineering firms generated bigger professional liability premiums in 2019 but also led to the first upswing in claims activity in several years, Ames & Gough said in a...
Fitch Revises Global Reinsurance Sector Outlook to Negative; Rating Outlook Stable
Mar 23 2020 // Fitch Ratings announced a dimmer “sector outlook” for global reinsurers—changing it to negative from stable, pointing to increased concerns over COVID-19. Rating agencies like Fitch offer two types of...
