Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
California Wildfire Outlook: ‘A Challenging Season for Firefighters’
Jul 1 2024 // While the official start to California’s wildfire season is still a ways off, the best forecast of what’s ahead may be to look back on the year so far, and so far it’s been far busier for firefighters...
Report: Combined California Workers’ Comp Losses and Expenses Down in 2023
Jul 1 2024 // Total insurer combined losses and expenses incurred in 2023 were down, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and...
US Auto Insurance Market on the Mend; Homeowners Line Volatile: Fitch
Jul 1 2024 // The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous...
Key Emerging Risks: Cascading Effects of Natural Disasters, Supply Chain Resilience
Jul 1 2024 // Key emerging risks facing global economies, businesses and the re/insurance industry include the cascading effects of natural disasters, the weakening resilience of supply chains and the repercussions of persistent...
AI, Economy, Geopolitical Conflicts Lead to Highest Level of Corporate Risk in 12 Years: Report
Jul 1 2024 // Economic volatility, geopolitical upheaval and artificial intelligence (AI) have driven the corporate threat level to its highest in 12 years, according to Clyde & Co’s 2024 Corporate Risk Radar. The survey of...
Room for Growth in Smaller Green Energy Market
Jul 1 2024 // How are insurers viewing the solar and renewable energy markets? While large risks likely have no problem, smaller to middle risks may face difficulty. “I certainly think there’s a gap in the smaller risk...
