Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Zurich Commits to UN Climate Change Targets, to Using only Renewable Energy by 2022
Jul 1 2019 // Zurich Insurance Group announced it is accelerating actions to progress towards a low-carbon economy “amid an increasing climate crisis.” Its actions range from committing to UN targets for global temperature...
Chemours Suit Claims DuPont’s Clean-Up Liability Estimates ‘Spectacularly Wrong’
Jul 1 2019 // Chemours Co. claims its former parent DuPont Inc.’s estimates on liabilities the spun-off company should cover were “spectacularly wrong” and wants a judge to block the chemical maker’s requests for...
Anxiety, Policy Limits Rising Ahead of California’s Sweeping Data Privacy Law
Jul 1 2019 // Robert L. Wallan’s clients are keeping him quite busy as they fret about the implementation next year of the nation’s most far-reaching data privacy law, which gives California consumers more control over their...
Auto Insurance Rates Going Down in Louisiana
Jul 1 2019 // Two more carriers are planning to lower their auto insurance rates in Louisiana, the state’s insurance department reported in June. Both Progressive Security Insurance Co. and Louisiana Farm Bureau have filed to...
Top Writers of Earthquake Insurance by 2018 Premium Written
Jul 1 2019 // Earthquake coverage is available mostly from private insurance companies. In California homeowners can also get coverage from the California Earthquake Authority (CEA), a privately funded, publicly managed organization....
Online Marketplace EverQuote Enters Health and Renters Insurance Markets
Jun 27 2019 // One year after its initial public offering raised $84 million, online insurance marketplace EverQuote announced it is expanding into health insurance and renters insurance, building on its existing auto, home and life...
U.S. P/C Insurers’ Net Income Increased 69% in 2018: A.M. Best
Jun 27 2019 // The U.S. property/casualty industry showed a year-over-year 69% increase in net income to $59.2 billion in 2018, owing to lower losses from catastrophic events, favorable development of prior years’ loss reserves and...
New Federal Study Contradicts Owner’s Claims About Years-Long Gulf Oil Spill
Jun 26 2019 // A new federally led study of oil seeping from a platform toppled off Louisiana’s coast 141/2 years ago found releases lower than other recent estimates, but contradicts the well owner’s assertions about the...
Chubb, Hiscox, Tokio, Other Lloyd’s Underwriters Form Innovation Facility to Insure Emerging Risks
Jun 26 2019 // A group of Lloyd’s underwriters has launched a new facility with £53 million ($67.5 million) of capacity that is designed to speed up re/insurance product development for new and emerging risks. The Product...
Data-Driven Insurance Future Clouded by Data Ownership Uncertainty
Jun 26 2019 // Insurers need to learn to share their data if they want to take full advantage of the mountain of information generated from connected devices, insurtech executives say. Along the way, somebody’s got to figure out...
North Carolina Insurance Fraud Round-Up: May
Jun 21 2019 // The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of May 2019. Insurance fraud costs American consumers approximately $80 billion a year. According to North Carolina...
Lloyd’s Gathers Group of Industry Heavy-Hitters as Advisers for Its Future Strategy
Jun 20 2019 // Lloyd’s has gathered a group of industry heavy-hitters — such as Evan Greenberg at Chubb, Dan Glaser at Marsh & McLennan, and John Haley at Willis Towers Watson — to sit on advisory committees that...
Insured Property Losses for December 2018 Sydney Hailstorms Rise to A$766M: PERILS
Jun 20 2019 // Insured losses for the hailstorms, which hit the greater Sydney region on Dec. 20, 2018, have risen to A$766 million (US$526.6 million), according to PERILS, in its third loss estimate for the storms. PERILS, the...
Florida’s Citizens Revises 2019 Rate Filing; Will Request 2.3% Statewide Rate Increase
Jun 20 2019 // Citizens Property Insurance Corporation’s Board of Governors has approved a revised 2019 rate proposal that the company said reflects recent legislative changes that targets the ongoing abuse of assignment of benefit...
The Lowdown: 2019 Private Flood Insurance Report
Jun 19 2019 // The big day is coming! I suspect by now, you’ve heard a great deal about the implementation of provisions of the Biggert-Waters Flood Insurance Reform Act of 2012, requiring regulated institutions to accept certain...
Greenhouse Gas Emissions Must Be Halved by 2030 to Avoid 3C Warming: Scientists
Jun 19 2019 // Emissions need to be halved by 2030 to limit warming to 1.5 degrees Celsius but temperatures are on track to reach double that by the end of the century even if countries’ current plans are fully implemented,...
State of the Cyber Insurance Market- Top Trends, Insurers and Challenges: A.M. Best
Jun 18 2019 // The cyber insurance market continues to grow and underwriting performance in this line remains strong, according to a new industry report. Direct premiums written for both standalone and packaged cyber policies grew about...
UK Business Executives Grow Increasingly Angry at Brexit Deadlock
Jun 17 2019 // There are only so many ways U.K. business chiefs can express their dismay at the Brexit deadlock engulfing the country. Frustration at politicians has morphed into outright anger in the three years since the referendum on...
Nobody Seems to Know Why Hail Storm Losses Suddenly Began Rising in 2008
Jun 17 2019 // In 2008, the year the stock market crashed and Barack Obama won the presidency, the U.S. was hit with a weather phenomenon little noted by anyone beyond the insurance industry. The country’s losses from hail breached...
Oklahoma Climatological Survey: 61 Twisters Hit the State in May
Jun 17 2019 // Of the two types of weather hazards — floods and tornadoes — that beset Oklahoma in May, flooding won out as the most widespread and damaging, according to the Oklahoma Climatological Survey (OCS). Still, at...
