Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Reinsurers Maintain Upward Pricing Momentum-But Will It Last?
Oct 24 2019 // Positive pricing momentum—it’s the favorite phrase of many reinsurance executives, who are hoping that the momentum they’ve seen in 2019 will continue during the coming January renewals and beyond. The...
Last Chance to Participate in Insurance Journal’s Agency E&O Survey
Oct 23 2019 // Today is the final day to participate in Insurance Journal’s exclusive 2019 Agency Errors & Omissions Survey. All participants will receive a copy of the survey’s report published in Insurance Journal...
IBHS Survey Highlights Building Code Gaps in Texas Coastal Counties
Oct 21 2019 // A detailed review of coastal Texas building codes revealed gaps that could leave homeowners at risk if mitigation efforts are not sought as nearly one-third of Texans live in the coastal counties. The Insurance Institute...
Texas Surplus Lines Premium Up Again
Oct 21 2019 // Texas surplus lines premium reported 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...
Merger & Acquisition (M&A) Trends Continue
Oct 21 2019 // There is no end in sight. How can our insurance industry keep the incredible pace of high-valued acquisitions happening? It feels like the tide needs to change, but yet the M&A national and regional brokerage firms and...
Agency E&O Survey: Deadline to Participate Approaching
Oct 18 2019 // Why do agencies purchase agency E&O coverage? Are premiums trending up, down or staying the same? What restrictions are agencies seeing in their E&O coverage? These questions and more are part of Insurance...
On-Demand Insurance to Play Major Role in Industry’s Future: IUA Research
Oct 18 2019 // On-demand insurance will play a fundamental role in the future of the industry, according to research published by the International Underwriting Association (IUA). Pay-as-you go models of cover will allow customers to...
Verifly, Now Thimble, Raises $22M to Fuel On-Demand Insurance Growth
Oct 16 2019 // Thimble, formerly known as Verifly, raised $22 million in new financing designed to fuel further expansion and diversification well beyond its original focus on on-demand drone insurance. Existing investors Slow Ventures,...
Private Flood Insurance Growth Could be Boon for Claims Professionals
Oct 16 2019 // A nudge into the market by carriers offering private flood insurance is becoming more of a shove, which might bring new opportunities for claims adjusters and maybe create a more efficient claims process along the way. An...
Workers’ Compensation Rates in Delaware Decrease for Third Year in a Row
Oct 15 2019 // Delaware is set to see a decrease in workers’ compensation insurance rates for the third year in a row, effective December 1, 2019. “I am delighted to approve a decrease in workers’ compensation rates in...
Auto Insurance Customer Loyalty Is Declining. Here’s Why.
Oct 15 2019 // Last year more than $6 billion in advertising was pumped into the marketplace to encourage consumers to shop and switch their auto insurance providers. Everywhere consumers look, they are being hit with insurance ads –...
MS Amlin Exits Aviation Insurance Market
Oct 14 2019 // MS Amlin, the London-based re/insurer and subsidiary of MS&AD, confirms its exit from the aviation insurance market, effective from Oct. 14 when it will cease underwriting aviation insurance renewals or new...
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...
