Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Hurricane Dorian Ties as Strongest Landfalling Atlantic Hurricane on Record: Aon
Oct 14 2019 // Hurricane Dorian made landfalls in the Bahamas, North Carolina, and Canada in early September, bringing total economic and insured losses in the billions, according to Aon’s monthly Global Catastrophe Recap...
AXIS Capital Estimates Q3 Catastrophe Losses of Up to $175 Million
Oct 14 2019 // AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Hurricane Dorian, Japanese typhoons and other weather-related events in the range of $150 million to $175 million, net of estimated recoveries...
London Company Market Premiums Rise by 8.1% in 2018 to £28.4B ($34.7B)
Oct 10 2019 // Gross written premiums written by the London company market have increased by 8.1% to £28.437 billion ($34.7 billion) in 2018, according to a report published by the International Underwriting Association (IUA) Gross...
AM Best: Outlooks Revised to Positive for Texas’ Columbia Lloyds Companies
Oct 8 2019 // AM Best has revised the outlooks to positive from stable, and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Columbia Lloyds Insurance Co. and MDOW...
Arch Capital Group Expects 3rd Quarter Catastrophe Losses of Up to $75M
Oct 8 2019 // Arch Capital Group Ltd. announced it expects to report third quarter 2019 pre-tax catastrophe losses of approximately $65 million to $75 million, net of reinsurance recoveries and reinstatement premiums. These losses are...
Corvus Increases Cyber Risk Policy Limits for Insureds Utilizing Security Services
Oct 7 2019 // Corvus Insurance, a provider of AI-driven commercial insurance, has updated its cyber underwriting model to reward highly protected organizations with higher limits for Social Engineering and Cyber Crime coverage....
Workers’ Compensation Rates to Decrease in Idaho for 2020
Oct 7 2019 // The Idaho Department of Insurance has approved a proposal for a 6.2 percent overall rate decrease to Idaho workers’ compensation insurance effective Jan. 1, 2020. The proposed rate change was recommended by the...
North Carolina Homeowners, Mobile Home Rates Going Up
Oct 7 2019 // The North Carolina Department of Insurance and the North Carolina Rate Bureau have settled a legal dispute over a proposed premium increase for homeowners insurance rates, according to a statement from NCDOI. NCDOI has...
Workers’ Compensation Premiums Up 2.2% in First Half of 2019
Oct 7 2019 // In the aggregate, workers’ compensation insurers reported a modest increase in direct written premiums in the U.S. for the first six months of 2019 versus the same period 2018, up 2.2%. However, the 25 carriers with...
How Emerging Risks for Medical Device Manufacturers Create Opportunities for Agents
Oct 7 2019 // The medical device industry is an expanding market with significant growth forecasted over the next decade. According to KPMG data, global predictions reveal the life sciences sector will grow by more than 5% per year,...
Insurers, Tech Firms Scramble to Keep Up With Cyber Risks
Oct 4 2019 // Despite progress, carriers are still falling short in how they approach cyber insurance and also how they cover events when they happen. How can this be? The unique makeup of cyber risks continues to hold them back,...
Texas Surplus Lines Premium Up 16% Over 2018
Oct 3 2019 // Reported Texas surplus lines premium through the first three quarters of 2019 reached $5.35 billion, a 16.15% increase over the same period in 2018, according to the Surplus Line Stamping Office of Texas...
How the Future of Insurtech Innovation Is Tied to the Traditions of Regulation
Oct 3 2019 // It’s no secret: Innovators and regulators often clash. But both are needed to help enable a dynamic, consumer-friendly property/casualty industry in the future, insurance and insurtech experts said...
Survey Suggests Little or No Midwest Economic Growth on Horizon
Oct 2 2019 // The Mid-America Business Conditions index fell further below growth neutral, hitting 49.1 last month compared with 49.3 in August. The figure was 52.0 in July. The decline was the fifth in six months for the overall index,...
Mercury Paying $41M in Decades-Long Court Battle With California Insurance Department
Oct 2 2019 // Mercury Insurance Co. has agreed to pay more than $41 million to end a two-decade long battle with the California Department of Insurance battle over the Los Angeles-based carrier improperly tacking fees onto auto...
Growth Frenzy Around Middle-Market CLOs Expected to Continue
Oct 2 2019 // It’s a marriage between two of Wall Street’s hottest products. Collateralized loan obligations — typically chock-full of broadly-syndicated debt — are increasingly being stuffed with private loans...
Cyber-Attacks Named as Top Business Risk in U.S., Canada and Europe, by WEF Survey
Oct 1 2019 // Cyber-attacks are named as the leading risk for business executives in the United States, Canada and Europe, according to a survey of business leaders published by the World Economic Forum, in partnership with Zurich...
Wildfire Risk in Georgia Increasing Amid Southern Drought
Oct 1 2019 // The ongoing drought has made outdoor burning in Georgia more dangerous than previous years, state officials said. In the past three months, the Georgia Forestry Commission says firefighters have responded to – on average...
North Carolina Homeowners, Mobile Home Rates Going Up
Sep 30 2019 // The North Carolina Department of Insurance and the North Carolina Rate Bureau have settled a legal dispute over a proposed premium increase for homeowners insurance rates, according to a statement from NCDOI. NCDOI has...
London Market’s Early Modernization Program, LM TOM, Is Being Wound Down
Sep 30 2019 // The Board of the London Market Group (LMG) announced that the London Market Target Operating Model (LM TOM) has been wound down in its current form, having delivered the majority of proposed solutions, which are now in...
