Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
South Carolina City Had Wettest Year on Record in 2015
Dec 22 2015 // It’s been a good year for ducks in Charleston as the National Weather Service reports that 2015 has been the wettest year on record. The Weather Service says that the record was set about 1:30 a.m. on Friday when the...
S&P Revises Outlook on Global Multiline Insurer XLIT to Positive; Affirms Ratings
Dec 22 2015 // Standard & Poor’s Ratings Services has revised its outlook on the global multiline insurer XLIT Ltd. and its operating companies (collectively XL) to positive from stable. S&P has also affirmed its...
P&I Premiums Expected to be Under Pressure at 2016 Renewals: Willis Report
Dec 22 2015 // A report from Willis Group Holdings notes that “despite P&I Clubs announcing that they are trying to achieve on average two percent increases in premium, ship owners with good records can look forward to...
Wisconsin Fire Outlook Towers Being Taken Out of Commission
Dec 22 2015 // Dozens of towers built mainly in the 1930s and 1940s for spotting forest fires in Wisconsin are being taken out of commission. The cost to maintain, repair or replace the 72 towers currently used throughout the state no...
S&P Affirms Zurich’s Ratings; Outlook Stable
Dec 21 2015 // Standard & Poor’s Ratings Services has affirmed its ‘AA-‘ insurer financial strength rating and ‘AA-/A-1+’ long- and short-term counterparty credit ratings on Swiss-based global multiline...
Best Maintains Negative Outlook on Global Reinsurance Sector
Dec 21 2015 // A.M. Best announced that it is holding to “its 2016 outlook for the global reinsurance sector at negative, citing the significant ongoing market challenges that will hinder the potential for positive rating actions...
XL Catlin Increases Aviation Insurance Limits
Dec 21 2015 // XL Catlin’s North America Aviation insurance business has increased its aircraft hull and liability limits by 50 percent to accommodate companies with aviation risks in the U.S. and Canada. XL Catlin’s aircraft...
Workers’ Comp Rates in Washington to Increase 2% In 2016
Dec 21 2015 // The average base rate Washington businesses pay for workers’ compensation insurance will increase by 2 percent in 2016, the state Department of Labor & Industries announced. L&I uses wage inflation as a...
Survey: 80% of Employers Impacted by Prescription Drug Abuse
Dec 21 2015 // A recently released survey of Indiana employers shows that 80 percent have been impacted by prescription drug misuse and abuse, including opioid painkillers, in their workplaces, the state attorney general’s office...
Regulators Focused on Product Innovation, Emerging Trends
Dec 21 2015 // State-based insurance regulation has a 145-year history of effectively and successfully protecting consumers and fostering competitive insurance markets. As the 2016 president of the National Association of Insurance...
Ohio AG: Identity Theft Complaints in Ohio Up over 2014
Dec 18 2015 // Identity theft complaints in Ohio have already surpassed the number received last year by about 300, according to the state attorney general’s office. Kate Hanson, a spokeswoman for Attorney General Mike DeWine, said...
Fitch: Overall P/C Reserves Adequate; Prior Years’ Favorable Trend Continues
Dec 18 2015 // Property/casualty insurers continued to take down loss reserves for prior years in 2014, which marked the ninth straight calendar year of favorable development for the industry in aggregate, according to a new report from...
Pennsylvania Compensation Rating Bureau Seeks 0.9% Loss Cost Decrease
Dec 17 2015 // The Pennsylvania Compensation Rating Bureau (PCRB) has submitted a filing of Pennsylvania loss costs and related rating values with a proposed effective date of April 1, 2016. The filing proposes an overall average loss...
Fitch’s Sector Outlook for UK Non-Life: Stable – French Non-Life: Negative
Dec 17 2015 // Fitch Ratings has issued reports on both the UK and the French non-life insurance sectors. The UK report indicates that “operating conditions within the UK non-life company market are expected to remain stable in...
Survey Concludes Europe’s Regulators ‘Gold-Plating’ New Insurer Capital Rules
Dec 15 2015 // Domestic regulators are increasingly “gold-plating” new European insurance capital rules by adding their own more stringent requirements, according to a survey of insurance trade associations. Two-thirds of...
Report: Southeast States Unprepared for Future Risks from Climate Change
Dec 11 2015 // Source: States at Risk Many states across the country, particularly in the Southeast, are unprepared to face the risks posed from extreme heat, drought, wildfires, inland flooding, coastal flooding and other extreme...
Business Interruption Claims on the Rise: Allianz
Dec 10 2015 // The average large business interruption (BI) property insurance claim is now in excess of $2.4 million, 36 percent higher than the corresponding average property damage claim of just over $1.7 million, according to a...
Survey: Prescription Drug Abuse Affecting Indiana Companies
Dec 8 2015 // The majority of Indiana companies that responded to a survey tied to the state’s growing woes with prescription medication abuse say their businesses are being affected by workplace abuse or misuse of those drugs,...
Texas State Fire Marshal Report: Fire Occurred Every 7 Minutes in 2014
Dec 8 2015 // In 2014, 957 fire departments in Texas reported 72,124 fires, with a fire occurring every seven minutes, 163 civilian fire deaths, 780 civilian fire injuries and $662,625,954 in property, according to a report from the...
Growth in Cyber Insurance Sustainable if Underwriting, Pricing Are Right
Dec 7 2015 // Given the fact that the insurance industry paid out more than $400 million in highly publicized cyber liability insurance claims in 2014 alone, one might think that insurers would be shying away from the line. But one...
