Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Renewable Energy Offers a Cost and Opportunity to Insurance Sector
Nov 7 2024 // Policyholders in the renewable energy insurance market are paying between 20%-40% more for cover today than a year ago as insurers seek to recover the cost of “devastating claims” in regions hit by natural...
2024 Will Be World’s Hottest Year on Record, EU Scientists Say
Nov 7 2024 // This year is “virtually certain” to eclipse 2023 as the world’s warmest since records began, the European Union’s Copernicus Climate Change Service (C3S) said on Thursday. The data was released...
Zurich’s Exposure to Hurricanes Helene, Milton Below $360M as Catastrophe Losses Rise
Nov 7 2024 // Zurich Insurance Group said on Thursday that its exposure to Hurricanes Helene and Milton, which recently wreaked havoc in the United States, would be less than $360 million, as insurers face increasing losses from natural...
Ivans Index Shows Commercial Lines Renewal Rates Down in October From August
Nov 6 2024 // All major commercial lines premium renewal rates were lower in October than in August, according to the latest monthly Ivans Index. Premium renewal rate change by line of business for October 2024 highlights include:...
London Protesters Demand Water Companies Clean Up Sewage-Tainted Rivers
Nov 5 2024 // Holding signs with slogans including “stop the plop” and “species not feces,” thousands of people marched in London on Sunday to demand a cleanup of Britain’s sewage-clogged...
Severity of Ransomware Attacks Rose 68% in First Half of 2024, Report Shows
Nov 4 2024 // Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-Year Update, which details emerging...
Don’t Risk the Agency – E&O Tips on Trials and Trends
Nov 4 2024 // When it comes to agency errors and omissions liability there’s nothing more important than playing it safe. One proven way is ensuring that everything is documented properly. But because there is always the threat of...
States Lead the Way on Better Insurance Markets
Nov 4 2024 // Most homeowning Americans consider their home their most valuable asset. This means that the changes happening in the property insurance market – which safeguards this asset – are critically impacting Americans and...
Viral Work Trends Insurance Agencies Will See More in 2025
Nov 4 2024 // Doesn’t it seem like every week there’s a new article, hashtag, or viral video about workplace trends? It can be confusing to keep them all straight. Here are the trends that seem to generate the most interest...
Claims From Hurricane Milton Continue to Rise in Florida
Nov 4 2024 // Two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers reported more...
Agency E&O Claims Trends to Watch
Nov 4 2024 // Special relationships, fiduciary duties, the hard market and disasters, are areas of exposure that agencies need to watch over when it comes to agency E&O, the experts say. Here’s why. Special Relationships One...
California Plans to Rev up Sales of Electric Motorcycles
Oct 31 2024 // At New Century Motorcycles in Alhambra, a handful of electric motorcycles are relegated to the back of the store, tucked behind the dirt bikes. The store sells one a month, at most, a salesperson said. Motorcyclists have...
Survey Shows California’s Insurance Crisis Is Impacting Home Sales
Oct 30 2024 // Realtors in California are reporting more difficulty selling homes because of the insurance crisis, according to a survey from the California Association of Realtors. The group surveyed its members and found 13% reported a...
Report: Climate Risks Increasing Insurance Rates and Hurting CRE Returns
Oct 29 2024 // Costly reinsurance, inflation, tough regulations, and increasing weather-related claims are driving up property insurance prices—and in turn, that is impacting commercial real estate returns, valuations, and...
Liberty Mutual Estimates Up to $900M in Losses From Helene and Milton
Oct 28 2024 // Liberty Mutual Insurance today said it expects up to $900 million in losses from hurricanes Helene and Milton. Parent Liberty Mutual Holding Company (LMHC) in a statement released some preliminary third quarter information...
Louisiana Senator: NFIP Reform Needed to Bring Down Flood Insurance Costs
Oct 24 2024 // Louisiana Senator Bill Cassidy released a report Thursday critical of the National Flood Insurance Program’s adoption of Risk Rating 2.0. The report, “The Flood Insurance Crisis: A Comprehensive Breakdown of...
AM Best Revises Outlook to Stable for American Family Mutual and Core Affiliates
Oct 24 2024 // AM Best has revised the outlooks to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+”...
Marsh: US Commercial Insurance Rates Up 3% on Hikes in Casualty
Oct 24 2024 // Commercial insurance rates during the third quarter in the U.S. increased 3%, with casualty rates up 10%. According to Marsh’s Global Insurance Market Index — which noted the first decline in global commercial...
Global Commercial Insurance Rates See 1st Quarterly Decline in Seven Years: Marsh
Oct 24 2024 // Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the...
The Data Behind Rising Homeowners Premiums: By Peril and By State
Oct 24 2024 // The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S. Home...
