Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
Strong E&S Premium Growth in Response to Weak Results; Top 15 E&S Writers: Fitch
Sep 30 2019 // Direct written premiums in the U.S. excess and surplus (E&S) lines market during 2018 grew at its greatest rate since 2012, increasing 11% and representing the eighth consecutive year of premium growth, according to...
AM Best Revises Outlooks to Positive for New Hampshire’s Concord Group
Sep 27 2019 // AM Best has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of A (excellent) and the long-term issuer credit ratings (ICRs) of a+ for New Hampshire-based Concord...
The Hanover Enters Vermont Personal Lines Insurance Market
Sep 25 2019 // The Hanover Insurance Group, Inc. has expanded its business in Vermont to include personal lines insurance and appointed a group of independent agents in the state to serve its growing customer base. According to The...
Lloyd’s Culture Survey Reveals ‘Ugly’ Levels of Sexual Harassment
Sep 24 2019 // Lloyd’s announced the results of its culture survey, which was commissioned in March in the wake of press reports of rampant sexual harassment in the market. The survey confirms that many women are enduring a toxic...
Michigan Classic Auto Insurer, Hagerty, Driving Into the Future
Sep 23 2019 // Traverse City, Michigan-based Hagerty is evolving to adapt to a changing automotive world. “Our mission as a business is to save driving and car culture for future generations,” said McKeel Hagerty, CEO....
AM Best Revises Outlooks to Negative for Quincy Mutual Group Members
Sep 23 2019 // AM Best has revised the outlooks to negative from stable and affirmed the financial strength rating of A+ (superior) and the long-term issuer credit ratings of aa- for the members of Quincy Mutual Group. The group includes...
Staying Profitable in an Increasingly Fragmented World: SCOR Global P&C CEO
Sep 23 2019 // There are several things that keep SCOR’s Jean-Paul Conoscente awake at night. Climate change is one of them; cyber risk is another. Only time will tell whether these risks are actually insurable, cautions...
Re/insurers Rethink Climate Change Risks as Losses Grow from Wildfires, Floods, Hail
Sep 20 2019 // By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer...
The Lowdown: Reimagining Research to Recognize Emerging Insurance Industry Trends
Sep 19 2019 // The Society of Insurance Research (SIR) will hold their 49th Annual Conference on October 20th – 22nd at the Sheraton Charlotte Hotel in Charlotte, NC and I am thrilled to be attending. The theme for this year’s...
Texas Auto Insurer of Last Resort Files for Rate Increases
Sep 19 2019 // The Texas Department of Insurance has extended the period in which recent rate increase request by the Texas Automobile Insurance Plan Association (TAIPA) may be approved. TAIPA, the state’s auto insurer of last...
Americans Failing to Act on Cyber Risk Concerns, Chubb Survey Finds
Sep 18 2019 // When it comes to cybersecurity, Americans say they are concerned, but many are not taking the preventative steps needed to protect themselves from a cyber attack. According to Chubb’s Third Annual Cyber Report,...
Business Leaders Spend Less Than 1 Day a Year Focusing on Cyber Risk: Marsh Survey
Sep 18 2019 // A majority of busy board members and senior executives, who are responsible for their organization’s cyber risk management, spent less than a day in the last year to focus on cyber risk issues, according to a new...
Lloyd’s Expects ‘Sobering’ Results from Survey of Workplace Culture
Sep 18 2019 // Lloyd’s of London expects “sobering” results from a survey of the workplace culture at its member firms, the insurance market’s chairman said on Wednesday as a rise in investment income drove a...
California Workers’ Comp 2020 Temporary Total Disability Rates to Rise
Sep 17 2019 // The California Division of Workers’ Compensation has announced that the 2020 minimum and maximum temporary total disability rates will increase on Jan. 1, 2020. The minimum TTD rate will increase from $187.71 to...
Another Hard Market Harbinger: U.S. Commercial Lines Prices Up 4% in Q2
Sep 12 2019 // In yet another sign of a hardening market, U.S. commercial insurance prices grew at an accelerated rate compared to a year ago, according to Willis Towers Watson’s latest Commercial Lines Insurance Pricing...
North Carolina Police Report Rise in Gun Thefts from Cars
Sep 11 2019 // A North Carolina police department says it’s concerned about a sharp increase in the number of firearms stolen from vehicles. The Charlotte-Mecklenburg Police Department told a news conference last week that...
NCCI Proposes 5.4% Decrease in Florida Workers’ Comp Rates
Sep 11 2019 // Florida businesses will see another workers’ comp rate decrease next year if the latest filing by the National Council on Compensation Insurance (NCCI) is approved by Florida regulators. Carrier results continue to...
Report Sees ‘Explosive’ Growth for North American Cannabis Market
Sep 5 2019 // The cannabis market in North America will be worth $47.3 billion by 2024, a new report shows. The report out this week paints a positive portrait of the cannabis industry in the U.S. and Canada that “is growing at an...
