Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
$584B at Risk From Cat Events in 2020: University of Cambridge Study
Dec 27 2019 // Providing an annual update of its study of the impact of catastrophic events on global GDP, researchers from the University of Cambridge find that roughly $584 billion could be wiped from the global economy from such...
Tennessee Approves 7% Decrease for Workers’ Comp Rates
Dec 23 2019 // Workers’ compensation rates in Tennessee will go down again next year, marking the seventh consecutive year of decreases, according to the Tennessee Department of Commerce and Insurance. Commissioner Hodgen Mainda...
Insured Losses in 2019 Estimated at $56B, Down from $93B Last Year: Swiss Re
Dec 20 2019 // Global insured losses in 2019 dropped to an estimated US$56 billion, from US$93 billion in 2018 and below the annual average (US$75 billion) of the previous 10 years, according to preliminary sigma estimates from Swiss Re...
Outlooks for Safeway Insurance Group Members Revised to Stable
Dec 19 2019 // AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of the members of Safeway Insurance Group...
Report: California Worker’s Comp Written Premium Decreases Escalated in 2019
Dec 18 2019 // Premium decreases in California workers’ compensation may have escalated in 2019, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California on Wednesday released its quarterly...
Jefferson City Tornado-Related Insurance Claims Rise to More than $170M
Dec 16 2019 // State insurance officials say Jefferson City, Missouri, residents made more than $170 million in insurance claims after a tornado hit the city on May 22. Missouri Department of Insurance data shows insurers paid out more...
A.M. Best Sees Personal Insurance Business Outlook Remaining Stable for 2020
Dec 16 2019 // A.M. Best has maintained a market segment outlook of stable on the U.S. personal lines industry for 2020, citing a significant decline in catastrophe activity, profitable underwriting performance in the private passenger...
Commercial Insurance Market Stable in 2020: A.M. Best
Dec 16 2019 // The market outlook on the U.S. commercial lines industry for 2020 is stable. according to analysts at ratings firm A.M. Best who cite “improved market conditions and solid levels of risk-adjusted capitalization that...
P/C Direct Premium Written Up 4.9%
Dec 16 2019 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2018, total DPW for all P/C insurers aggregately increased approximately 4% over 2017, an increase...
Political Risk Losses Up in 2019, Hitting 68% of Surveyed Firms
Dec 16 2019 // A survey of 41 major corporations by broker Willis Towers Watson found that 61% believe political risk levels increased in 2019 while 68% have actually suffered a political risk loss. Disruption of international trade was...
U.S. Commercial Insurance Prices Were Up 4% in Q3: WTW
Dec 16 2019 // U.S. commercial insurance prices accelerated during the third quarter of 2019, as the aggregate price change reported by carriers exceeded 4%, according to insurance broker Willis Towers Watson. WTS’s Commercial...
U.S.- China Phase One Trade Pact Promises Improved IP Protections, Insurance Markets Access
Dec 15 2019 // The United States and China have agreed on the terms of a “phase one” trade deal that reduces some U.S. tariffs on Chinese goods while boosting Chinese purchases of American farm, energy and manufactured goods...
Southern California Bride Tied up in Insurance Fraud Scheme
Dec 13 2019 // Vermyttya Miller, 37, of Santa Clarita, Calif., was sentenced this week to five years in county jail and ordered to pay $22,500 in restitution after pleading no contest to one count of felony insurance fraud for a wedding...
Corbett, Stalvey Appointed to New Roles to Further Grow Tennessee Captive Market
Dec 13 2019 // Tennessee Department of Commerce & Insurance (TDCI) Commissioner Hodgen Mainda has named two longtime Tennessee captive insurance experts to new roles in the department. Michael Corbett has been named to the newly...
A Decade After Gulf Oil Spill, a New Wave of BP Lawsuits Hits Courts
Dec 11 2019 // A new wave of lawsuits against BP is hitting the federal courts nearly a decade after the Gulf oil spill. The new litigation is the result of a court ruling that blocks thousands of people from a medical settlement...
Study: Every $1 Spent on Buying Flood Lands Could Save U.S. $5 in Future Damages
Dec 10 2019 // Which would cost American taxpayers more: Paying now to protect undeveloped areas that are likely to flood in the coming decades, or allowing development to proceed based on current projections and paying for subsequent...
A.M. Best Sees Personal Insurance Business Outlook Remaining Stable for 2020
Dec 9 2019 // A.M. Best has maintained a market segment outlook of stable on the U.S. personal lines industry for 2020, citing a significant decline in catastrophe activity, profitable underwriting performance in the private passenger...
U.S. Supreme Court Declines to Hear Arizona Opioid Claim Against Purdue’s Owners
Dec 9 2019 // The U.S. Supreme Court on Monday turned away a novel case by Arizona seeking to recover billions of dollars that the state has said that members of the Sackler family – owners of Purdue Pharma LP – funneled out...
U.S. Commercial Insurance Prices Were Up 4% in Q3: WTW
Dec 9 2019 // U.S. commercial insurance prices accelerated during the third quarter of 2019, as the aggregate price change reported by carriers exceeded 4%, according to insurance broker Willis Towers Watson. WTS’s Commercial...
A.M. Best Weighs In With Stable Commercial Insurance Outlook for 2020
Dec 9 2019 // The market outlook on the U.S. commercial lines industry for 2020 is stable. according to analysts at ratings firm A.M. Best who cite “improved market conditions and solid levels of risk-adjusted capitalization that...
