Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Bicycle Thefts Rise to 5-Year High in Minneapolis
Aug 15 2019 // Minneapolis, Minnesota, police say bicycle theft in the city is at a five-year high. Police department data obtained by the Star Tribune shows almost 4,300 bikes reported stolen since 2017. The rash of thefts frustrates...
Nation’s Excess & Surplus Market Reports 13% Growth Through Midyear
Aug 14 2019 // Source: Texas Surplus Lines Stamping Office The nation’s excess and surplus lines insurance industry is growing almost 13 percent faster halfway through this year than it did last year at this time. Mid-year premium...
Many Reinsurers Take Increased Catastrophe Risks as Rates Harden: S&P
Aug 14 2019 // Some global reinsurers have chosen to stop retrenching from catastrophe risks, deciding instead to take advantage of higher premium rates and increase their exposure, according to S&P Global Ratings. Although risk...
With Smarter, Joined-Up Pricing, There’s No Such Thing as a Bad Risk: Viewpoint
Aug 14 2019 // It’s a well-trodden truth in our industry that not all risks are created equal, and for insurers, that some risks are riskier than others. However, new technologies mean new avenues of innovation for insurers to...
AM Best Revises Outlooks to Stable for Georgia Farm Bureau Group Members
Aug 13 2019 // AM Besthas revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Ratings of “bbb-” of Georgia Farm Bureau Mutual Insurance Co. and...
Property Loss Estimate for Australia’s Townsville Floods Rises to A$1.22B: PERILS
Aug 12 2019 // The property insurance market loss from the Australia’s Townsville floods, which affected northern Queensland, Australia, between Jan. 26 and Feb. 10, 2019, has risen to A$1.22 billion (US$827.1 million), according...
UK’s Aviva Reports 1% Rise in 1st Half Operating Profit, Reviews Asia Business
Aug 8 2019 // Britain’s second largest insurer Aviva reported a forecast-beating 1% rise in first-half operating profit on Thursday, helped by a strong performance in its general business and announced a review of its Asian...
Munich Re Reports 36% Rise in Q2 Net Profit on Lower Claims from Major Losses
Aug 7 2019 // German reinsurer Munich Re on Wednesday reported a 36% rise in net profit in the second quarter, helped by low claims from major losses, and stuck to its forecast for 2019. Net profit was 993 million euros ($1.11 billion),...
AIR Tracks Growth of Coastal Exposures Over Past Decade
Aug 6 2019 // The value of coastal exposures along the Atlantic and Gulf coasts have experienced a compound annual growth rate of about 4% over the past decade, according to catastrophe risk modeling firm AIR Worldwide. AIR released its...
Outlooks Revised to Positive for Minnesota Lawyers Mutual, MLM Risk Retention Group
Aug 2 2019 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Minnesota Lawyers Mutual Insurance Co.,...
While Ships in Persian Gulf Turn Off Transponders to Avoid Seizure, Collision Risks Rise
Aug 2 2019 // Following weeks of mounting tensions in the Persian Gulf where vessels have been attacked and an oil tanker has been seized, recent news reports reveal that shipowners are trying minimize risk – by turning off their...
Michigan Manufacturer Ordered Shut Down Amid Health Concerns
Aug 1 2019 // A judge has ordered a Michigan manufacturer to cease operations amid concerns among health officials about a June dumpster fire and the release of chemical clouds. The Daily News of Greenville reports an Ionia County judge...
Lloyd’s Selects 11 Insurtechs to Support Its Future-at-Lloyd’s Project
Aug 1 2019 // Lloyd’s welcomed 11 new teams of insurtech disruptors to join the re/insurance market’s innovation accelerator. More than 130 applications were received from across the world for the third cohort of the...
Generali’s Net Profit Rises 34.6% in First Half
Aug 1 2019 // Italy’s top insurer, Generali , reported first-half operating profit above market estimates on Thursday, helped by growth across its business segments, and confirmed all of its three-year targets announced in...
Report: Written Worker’s Comp Premium in California to Fall by $1B in 2019
Jul 31 2019 // Expect workers’ compensation insurance rates in California to continue to fall, with total written premium expected to drop by $1 billion or more for 2019 despite the positive impacts of continued economic growth, a...
Allstate Says Q2 Results Reflect Strategy Momentum
Jul 31 2019 // The Allstate Corp. said its second quarter results show that its strategy of increasing its market share in property and liability insurance products while also expanding into other protection products is working. Overall...
Businesses Believe Cyber Insurance Covers More Than It Does: Survey
Jul 31 2019 // Seven in 10 senior financial executives at the world’s largest companies believe their insurer would cover most or all of the losses their company would incur in a cyber attack. Many of the losses they foresee,...
Challenges Facing the Florida Insurance Market: A Reinsurer’s Perspective
Jul 30 2019 // Hurricanes Irma and Michael served as a reminder that Florida, more than any other state, is at risk of one of the most intense natural perils, namely hurricanes. The existence of a stable insurance market providing its...
Texas Windstorm Insurer: Rate Inadequacy Up Year Over Year
Jul 29 2019 // In advance of its Aug. 6 board meeting in Galveston, the insurer of last resort for wind and hail in counties along the Texas coast said it has determined its residential coverage rates are inadequate by 41.7 percent and...
Car Thefts Up 60% in Southwest Georgia City
Jul 29 2019 // Police in one southwest Georgia city say they’re seeing a spike in stolen cars. Albany police say vehicle thefts are up 60 percent so far over the same period a year ago. That’s 159 vehicles reported stolen so...
