Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Hail Damage Claims from Montana Crops on The Rise
Jul 15 2016 // State officials say damage claims for Montana crops due to hail are nearly double what they’ve been in recent years. The Billings Gazette reported the state Department of Agriculture’s Walt Anseth says farmers...
Growth Partners: Equity Firm Kohlberg Invests in Wholesaler U.S. Risk
Jul 14 2016 // Dallas-based international specialty lines underwriting manager and wholesale broker U.S. Risk Insurance Group Inc. has agreed to partner with the private equity firm, Kohlberg & Co. With capital and two board members...
Crop Hail Damage Claims on the Rise in Montana
Jul 14 2016 // State officials say damage claims for Montana crops due to hail are nearly double what they’ve been in recent years. The Billings Gazette reports the state Department of Agriculture’s Walt Anseth says farmers...
Bermuda Insurance Industry Expected to Grow by 10.3% Annually Until 2019
Jul 14 2016 // The Bermuda insurance industry is projected to grow at a steady pace as a result of new regulations and consistent growth in external business, such as offshore and captive, according to a new report published by...
Heritage Revokes 14.9% Rate Increase Filing for Florida Homeowners
Jul 13 2016 // After review by the Florida Office of Insurance Regulation (OIR) and much criticism from Florida stakeholders, Florida-based Heritage Property & Casualty Company has withdrawn its request for an overall 14.9 percent...
Storms & Earthquakes Drive Up Insured Losses in 1H 2016: Munich Re
Jul 13 2016 // Economic losses caused by natural catastrophes in the first half of 2016 totaled US$70 billion, a significant increase from the $59 billion reported for the first half of last year, according to a loss review issued by...
Chubb Estimates Q2 Cat Losses to Rise 54% from Q1 2016
Jul 13 2016 // Property and casualty insurer Chubb Ltd. estimated natural catastrophe losses for the second quarter to be about 54 percent higher than the first quarter, indicating another quarter of high losses due to natural disasters...
Jaguar Land Rover to Test Fleet of Autonomous Cars in England by 2020
Jul 13 2016 // Britain’s biggest carmaker Jaguar Land Rover said it will create a fleet of more than 100 research vehicles over the next four years to test autonomous and connected technology, with the first models to hit the...
Non-Life Cat Bond Issuance Hits $2.8B During 1H 2016: Willis Towers Watson Report
Jul 12 2016 // Total non-life catastrophe bond market issuance for the first half of 2016 rose to $2.8 billion, according to the latest ILS market update from Willis Capital Markets & Advisory (WCMA), the investment banking business...
Survey: Agents Value Carrier Underwriting More Highly Now Than 5 Years Ago
Jul 12 2016 // A comparison of independent agent opinions five years ago to today shows how far the agency channel has come while also illustrating that certain fundamentals remain important throughout cycles and market...
Oil Shipments Down Hudson River Raise Spill Concerns
Jul 11 2016 // The Hudson River may still become a major corridor for the shipment of thick, tar sands oil from Canada despite moves last year by New York officials that attempted to halt those efforts. At issue is a key air permit...
North Dakota June Storm Damage Costs Rising, Regulators Say
Jul 11 2016 // The North Dakota Department of Insurance reported that the Bismarck/Mandan-area storm that occurred on June 17 is developing into one of the largest claim events for 2016 in state, which has experienced several severe...
California’s Last Nuke Plant Would Be Closed by 2025 Under Deal
Jul 11 2016 // California’s last nuclear power plant will close by 2025 under an accord announced in June, ending three decades of safety debates that helped fuel the national anti-nuclear power movement. The state’s largest...
Velosurance Takes Cycling to the Specialty Insurance Market
Jul 11 2016 // Cycling enthusiasts everywhere are watching what might be the world’s most famous bicycling event – the Tour de France – this month. They are also watching some of the world’s most expensive bicycles, which...
Global Flood Events Rack Up $5B in Economic Costs in June: Aon Report
Jul 8 2016 // Major floods across the globe during June – topped by events in China and the U.S. – are expected to bring economic costs in excess of US$5.0 billion, according to Impact Forecasting, Aon Benfield’s catastrophe...
A.M. Best: Outlook Stable for Southern Pioneer Property and Casualty Insurance
Jul 7 2016 // A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of B++ (Good) and the issuer credit rating of “bbb” of Southern Pioneer Property and Casualty Insurance Co....
Future of Boston’s July 4th Celebration In Doubt Without a Successor to Sponsor Liberty Mutual
Jul 5 2016 // This Fourth of July, the cannons roared and the fireworks burst in brilliant colors as a world class orchestra drove home the climactic finale of Tchaikovsky’s “1812 Overture,” as they have for decades...
Treasury Recommends Some Terrorism Premiums Be Retained for Future Claims
Jul 5 2016 // In a report that concludes that the federal terrorism risk insurance program “remains an important mechanism” for ensuring that terrorism risk insurance is available and generally affordable, the U.S. Treasury...
Emerging Markets’ Claims Expected to Hit Coface’s 2016 Profit
Jul 5 2016 // Coface SA, a French export-credit insurer, warned Monday that higher-than-expected claims by companies trading with emerging markets may cut its 2016 annual profit. The Paris-based company also cited longer collection...
NCCI Proposes Nearly 20% Florida Workers Comp Rate Increase
Jul 5 2016 // The Florida Office of Insurance Regulation (OIR) announced July 1 that the National Council on Compensation Insurance (NCCI) filed an amended rate filing to address a third legal change affecting Florida’s...
