Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Almost a Year After Idalia, Florida Village Ponders its Future on the Gulf
Jul 18 2024 // HORSESHOE BEACH, Fla. (AP) — Lisa Bregenzer’s waterfront home was her “little slice of heaven.” She watched sunsets and migrating birds from the porch, the Gulf of Mexico in the distance. There, she...
AM Best Revises A.I.M. Mutual Outlook to Positive, Affirms ‘Excellent’ Ratings
Jul 17 2024 // AM Best reports that it has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings of members of A.I.M. Mutual Insurance Companies. The ratings agency has also affirmed the Financial Strength...
Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond
Jul 17 2024 // It is interesting—and telling—that one of the concerns around generative artificial intelligence has to this point largely revolved around copyright infringement. The most high-profile lawsuits around GenAI have so far...
Surplus Lines Commercial Growth; Fla. Litigation Costs Reach New High in 2023
Jul 17 2024 // Two recent reports reflect trends in Florida’s property insurance market, including the continued growth of surplus lines’ business and an uptick last year in litigation costs for carriers. The Florida Surplus...
TWIA Actuarial Committee Recommends 10% Rate Increase for 2025 Policies
Jul 16 2024 // The Texas Windstorm Insurance Association Actuarial & Underwriting Committee voted on Monday, July 15 to recommend that the TWIA Board of Directors approve a rate filing to increase rates by 10% for 2025 residential...
P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast
Jul 16 2024 // Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve profitability in 2025,...
Big ‘I’ Report: Independent Agency Channel Placed 62% of Premiums in 2023
Jul 15 2024 // Independent agents placed more than 62% of all property/casualty insurance written in the U.S., according to the Independent Insurance Agents & Brokers of America (the Big “I”). The association’s 2024...
Inflation, the Economy and Workers’ Comp: A Positive Outlook
Jul 15 2024 // Inflation is cooling, employment growth is normalizing and the workers’ compensation outlook is good, according to a national economist specializing in workers’ compensation. The economy and the...
AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey
Jul 15 2024 // A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher...
Cyber Insurance Market ‘Stable’ With Potential for Growth, Says AM Best
Jul 15 2024 // According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a “stable” outlook despite a stall in premium growth. Analysts at AM Best issued a segment...
Florida Citizens Board Votes to Raise Rates 14% But Costs Are Down
Jul 15 2024 // The board of governors for Florida’s state-created Citizens Property Insurance Corp. voted unanimously in June to raise personal lines rates by an average of 14% statewide – near the maximum allowed under the...
CBO Says Mortgage Subsidy Cost from Flood Damage to Hit $395M by 2053
Jul 12 2024 // Climate change is expected to increase the frequency and severity of floods in the U.S., posing greater risks to homeowners and mortgage lenders—and since flood damage tends to lower the market value of affected homes,...
Wildfire Risk Rises as Western States Dry Out Amid Ongoing Heat Wave
Jul 11 2024 // Authorities in Western states warned of the rising risk of wildfires as hot conditions and low humidity dry out the landscape amid a protracted heat wave that is expected to bake much of the U.S. again...
Global Reserve Managers Upbeat on Growth but Worry About Geopolitical Risks
Jul 11 2024 // An escalation in geopolitical conflicts is the biggest risk to the global economy, according to central bank reserve managers, who are generally positive about the world’s economic outlook, according to an annual...
Canada Insurers Investing in Fossil Fuels as Climate Risks Grow: Shareholder Group
Jul 10 2024 // Canada’s top property and casualty insurers have invested more than C$19.5 billion ($14.30 billion) in fossil fuels production at a time when climate change is driving up risks for the industry, according to a report...
CSU Research Team Increases Atlantic Hurricane Forecast
Jul 10 2024 // Hurricane Beryl got the respected team of researchers at Colorado State University to rethink its forecast for the Atlantic hurricane season, which has already seen three named storms. CSU’s Department of Atmospheric...
NHTSA: Traffic Deaths Decrease Again in Q1 2024
Jul 9 2024 // Less people died in traffic accidents during the first three months of 2024, compared to the same time the prior year. The quarter looks to be the eighth in a row for a decline in traffic fatalities, dating back to the...
Q2 2024 Personal Insurance Rates Up 7.6%: MarketScout
Jul 5 2024 // The average rate increase for U.S. personal lines coverages was about 7.6% in the second quarter, up from about 4.8% for the first three months of the year, according to MarketScout. Dallas-based MarketScout, a division of...
New-Vehicle Sales Growth Slows After CDK Cyberattack
Jul 5 2024 // Top U.S. automakers posted slower sales growth for the second quarter as a cyberattack at software systems provider CDK hit operations at several dealerships during the crucial selling period of late June. General Motors...
State Farm Seeking Large Rate Increases in Wildfire-Prone California
Jul 3 2024 // State Farm has applied for large rate increases in California, a year after the carrier got rate approvals of 7% and 20%—adding fuel to a burning homeowners crisis in a state that’s seen an increasing number of...
