Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
UK Warns of Grain Threat After Russia Steps Up Port Attacks
Oct 23 2024 // An increase in Russian attacks on Ukrainian port infrastructure in recent weeks threatens food shipments to destinations from Gaza to southern Africa, the UK warned. British intelligence has detected a “noticeable...
Allianz Mulls Ending Decades-Old Bajaj Insurance India JVs
Oct 22 2024 // Allianz SE is in talks to scrap two Indian joint ventures with Bajaj Finserv Ltd., in a dispute over the direction of the partnership, according to people familiar with the matter. Allianz plans to exit Bajaj Allianz Life...
Claims from Hurricane Milton Continue to Rise in Florida
Oct 22 2024 // Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers had...
ESG’s Appeal Fades in Emerging Markets as Profit Seeking Eclipses Virtue
Oct 21 2024 // Sustainable investments in emerging markets are facing a reckoning as environmental, social and governance strategies crumble under the weight of ongoing capital outflows and the appeal of higher-yielding energy bonds. ESG...
The Future of Digital Insurance Operations with SelectsysTech’s Cloud-Based RQB Platform
Oct 21 2024 // This post is part of a series sponsored by Selectsys. The insurance industry is undergoing a digital transformation, with companies increasingly adopting cloud-based solutions to enhance their operations. Cloud technology...
75% of Independent Agencies Report Revenue Gains From 2022-23
Oct 21 2024 // Despite challenging conditions, 75% of independent insurance agencies saw revenue gains from 2022 to 2023, according to the 2024 Agency Universe Study. That number is significantly higher than between 2020 and 2021, during...
Video Marketing Trends in the Insurance Industry: Engaging Audiences & Building Trust
Oct 21 2024 // The insurance industry, traditionally rooted in face-to-face interactions and extensive documentation, is undergoing a significant transformation with the rise of video marketing. As digital communication becomes the norm,...
3 Emerging Risks: Microplastics, 3D Printing and Heat Pumps
Oct 21 2024 // We often take for granted the resources and materials that help us run our businesses and build our homes. Steel, cement, plastic — building blocks such as these have afforded us the flexibility to grow our...
Making Friends With the Future: Agency Tech Moving at a Faster Pace Than Ever Before
Oct 21 2024 // That used to be one of my biggest beefs as an agency owner — I have all of these pieces of tech and none of them talked to each other,” Vonda Copeland, co-owner and vice president of operations at Copeland...
Climate Change Causes 379% Hike in Insured Damages in Canada Over 10 Years: Report
Oct 17 2024 // The annual average insurable losses in the last decade increased in Canada by a whopping 379%, when compared to the prior 30-year average, according to an analysis from MyChoice, a Toronto-based insurtech company. The...
Texas Commissioner Rejects TWIA’s Proposed Rate Increase
Oct 16 2024 // Texas Insurance Commissioner Cassie Brown issued an order this week disapproving Texas Windstorm Insurance Association’s proposed 10% increase to property and commercial rates. The Department Department of Insurance...
Fitch Revises Cincinnati Financial’s Outlook to Positive From Stable
Oct 16 2024 // Fitch Ratings has affirmed the ‘A+’ (Strong) Insurer Financial Strength (IFS) ratings for Cincinnati Financial Corporation’s (CINF) three property/casualty insurance subsidiaries and its life insurance...
Average Weekly Wage Increase Bumps California Workers’ Comp Benefits for 2025
Oct 16 2024 // California’s State Average Weekly Wage rose nearly 3.8% in the year ending March 31, resulting in an increase in California workers’ compensation temporary total disability and permanent total disability rates...
AM Best Revises Outlook to Positive for Kansas’ Upland Mutual
Oct 15 2024 // 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+” (Good) of Upland Mutual Insurance, Inc....
Fitch Expects Insurance Industry Losses of Up to $50B From Milton
Oct 11 2024 // Fitch Ratings expects Hurricane Milton to cause between $30 billion and $50 billion in insured losses to push total industry losses in 2024 above $100 billion for the fifth straight year. The range of losses expected by...
Severity of Ransomware Attacks Rose 68% in First Half of 2024, Report Shows
Oct 11 2024 // Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-Year Update, which details emerging...
Russian Strikes on Ukraine’s Ports Push Up Insurance Rates: Market Sources
Oct 10 2024 // A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump in insurance costs and forced some shipowners to cancel bookings, insurance sources and a broker said...
Hurricane Milton Could Use Up P/C Insurers’ 2024 Catastrophe Budgets
Oct 10 2024 // S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. property/casualty insurers, affecting underwriting margins and earnings. In a...
Munich Re Specialty to Enter Spanish Insurance Market
Oct 10 2024 // Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland...
Intersys Expands in UK Insurance Market With Launch of London Office
Oct 9 2024 // Intersys, the UK-based provider of cyber risk management solutions, announced its expansion in the UK insurance market with the opening of an office in Leadenhall Market in London. Intersys’ London office will serve...
