Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Financial Services Industry Misses Out on $700B a Year by Ignoring Women: Report
Nov 15 2019 // The male-dominated finance industry is missing out on more than $700 billion a year in revenue by failing to listen to or tailor products for women, according to management consultancy Oliver Wyman. “Women are...
Hail Has Damaged Insurance Market for Car Dealers. Parametric Insurance May Help.
Nov 14 2019 // Nick Pacifico has been working at his family’s Cadillac dealership in Denver since 2003. He’s never seen insurance costs this bad. “Getting coverage is nearly impossible,” said Pacifico, vice...
Insurance Premiums to Grow 3% Despite Economic Slowdown: Swiss Re
Nov 14 2019 // Global insurance premiums will grow 3 percent on average over the next two years even with an emerging global economic slowdown, Swiss Re said in its latest sigma report. Rising lost costs will fuel the moderate but steady...
FBI Warns on Rise in Sophisticated Cyber Crimes
Nov 14 2019 // On Dec. 14, 2018, Aaron Cole was about to buy a new house and received an email that he thought was from his title company, directing him to make a $123,000 deposit. Cole complied, not realizing that a sophisticated hacker...
AM Best Revises Outlooks to Negative for Pennsylvania’s Farmers
Nov 13 2019 // AM Best has revised the outlooks to negative from stable and affirmed the financial strength rating of B+ (good) and the long-term issuer credit rating of “bbb-” of Farmers Mutual Fire Insurance Company of...
Rate Increases Approved for Texas Auto Insurer for Residual Market
Nov 12 2019 // Proposed rate increases for both private passenger and commercial auto insurance rates have been approved for the Texas Automobile Insurance Plan Association (TAIPA). The Texas Department of Insurance granted TAIPA’s...
What to Expect in Commercial Insurance Market Conditions Heading Into 2020
Nov 12 2019 // Ongoing rate increases and reductions in capacity are taking shape in most property/casualty commercial lines in the fourth—and for some, will continue into the new year, according to a recent report from broker USI...
Workers’ Comp Rate Decrease Approved for Louisiana
Nov 8 2019 // A filing by the National Council on Compensation Insurance (NCCI) that would reduce workers’ compensation insurance rates in Louisiana by 8.4% next year has been approved by Louisiana Insurance Commissioner...
Texas Insurance Industry, Local Police Team Up for Vehicle Crime Prevention
Nov 8 2019 // Auto burglaries and thefts affect over 250,000 motorists each year in Texas resulting in more than $1 billion in losses according to the Motor Vehicle Crime Prevention Authority (MVPCA). Now through a program sponsored by...
Imagining How Technology Might Transform Risks and Insurance by 2030
Nov 7 2019 // As 2019 wraps up, many in the insurance industry are likely well into planning for the next year. But what about planning for the next decade? While it can be difficult to predict what’s ahead in 10 years, industry...
Program Business Revenue Increases 12% to $40.5B in 2018
Nov 5 2019 // Program business premium rose 12.2% in 2018, reaching $40.5 billion from $36 billion in 2016, according to The 2019 State of Program Business Study published by the Target Markets Program Administrators Association...
Agency E&O: Risk Rises Along with Rates, Cats and Customer Switching
Nov 4 2019 // Agency errors and omissions (E&O) coverage is likely the most important insurance policy an agency purchases. As customer demands rise to an all-time high, having the right E&O coverage and ensuring best practices...
Agency Growth Secrets: To Build Your Sales Team, Grow Your Agency and Change Your World
Nov 4 2019 // Many agencies have a growth rate of 1% to 3%. They have an aging producer force, no systems to drive growth and no way out but to sell to an aggregator. In most cases, they have tried to hire new producers and have failed....
Survey Shows Gaps in Building Codes Put Texas Coastal Residents at Risk
Nov 4 2019 // More than 7 million Texans live in Texas coastal areas that are vulnerable to hurricanes, according to an insurance industry-backed research and communications organization. A survey of cities and counties along the Texas...
Regulator Orders Decrease to Proposed Fla. Workers’ Comp Rates
Nov 4 2019 // Florida businesses can expect an even greater decrease in workers’ compensation insurance next year, thanks to an order by the state regulator for a further decrease to the recent rate filing proposed by the National...
Online Shopping Site EverQuote Adds Commercial Insurance Markets
Nov 1 2019 // Massachusetts-based online personal insurance marketplace EverQuote has launched a commercial lines marketplace in a new partnership with the technology platform provider Bold Penguin. EverQuote said it will use Bold...
Issuer Credit Outlook Revised to Positive for Upland Mutual Insurance in Kansas
Oct 31 2019 // Ratings agency AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of...
U.K. Company Insolvencies Rise to Highest Level Since 2014 on Brexit Crisis
Oct 31 2019 // The number of companies in England and Wales unable to pay their debts rose to an almost six-year high in the third quarter as the Brexit crisis intensified. There were 4,355 company insolvencies, 0.4% more than in the...
Regulator Orders Further Decrease to Proposed Florida Workers’ Comp Rates
Oct 25 2019 // Florida businesses can expect an even greater decrease in workers’ compensation insurance next year, thanks to an order by the state regulator for a further decrease to the recent rate filing proposed by the National...
Massachusetts’ Risk Strategies Appoints Dubraski as Chief Growth Officer
Oct 24 2019 // Risk Strategies, a Boston, Mass.-headquartered, privately held insurance brokerage and risk management firm, has appointed its National Health Care Practice leader, Bob Dubraski, as chief growth officer. In his expanded...
