Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
BP Sets up Anti-Fraud Hotline for Spill Claims
Jul 17 2013 // BP has set up a hotline for people to report alleged fraud involving claims arising from the company’s massive 2010 oil spill in the Gulf of Mexico. The July 15 launch of the hotline comes a week after a federal...
How Casualty Actuaries Help Insurers Manage Nanotech, Other Emerging Risks
Jul 16 2013 // Casualty actuaries can help insurers meet the demand for new products by identifying, analyzing and pricing new risks, according to two speakers at the srping meeting of the Casualty Actuarial Society. Since the mid-1980s,...
Willis Sees Continued ‘Downward’ Trend for Airline Premiums
Jul 15 2013 // Insurance premiums for airlines continued to go down during the first half of this year in what remains a buyers’ market, according to a report by Willis Group Holdings. The loss of an Asiana B777 aircraft in a...
Total Cost of Risk Up As Market Firms: RIMS
Jul 15 2013 // Businesses paid about five percent more in 2012 than they did in 2011 to cover the total cost of risk. That compares to a rise of only 1.7 percent in 2011, according to the 2013 Risk & Insurance Management Society...
Rhode Island Approves 7.4% Workers’ Comp Loss Cost Increase
Jul 10 2013 // The Rhode Island Department of Business Regulation approved this month a 7.4 percent overall voluntary loss cost increase for new and renewal workers’ compensation policies. The change will take effect in August. The...
As Political Risks Proliferate, Insurers Increase Coverage Options
Jul 10 2013 // Could it happen to us? Tourism, manufacturing and resources companies surveying an unpredictable world are increasingly having to consider insurance against political risks, and the insurance industry is gearing up to...
Commercial Insurance Rates Up 5% Again in June: MarketScout
Jul 8 2013 // Increases for commercial property/casualty insurance rates in the United States were again about 5 percent during June, the fourth straight month at that pace. According to the latest composite index from MarketScout, all...
In Past Decade, World Experienced Unprecedented Climate Extremes: WMO
Jul 3 2013 // The world suffered unprecedented climate extremes in the decade to 2010, from heatwaves in Europe and droughts in Australia to floods in Pakistan, against a backdrop of global warming, a United Nations report said on...
U.S. Fights Growing Wildfire Threat with Shrinking Budget
Jul 2 2013 // The tragedy came without warning. Wind split the Arizona wildfire in two, trapping 19 firefighters from the Granite Mountain Hotshots between twin walls of flame that would take their lives. The erosion of U.S....
U.S. Property Cat Re Prices Down, Casualty Softening: Willis Re
Jul 2 2013 // Reinsurers are taking “robust defensive measures to maintain market positions recently eroded by new capital markets entrants,” with prices down 25 percent on some Florida property accounts, according to a new...
Study: 290,000 Idaho Jobs to Be Available By 2020
Jul 1 2013 // Nearly 290,000 jobs will become available in Idaho by 2020, a new study says. Georgetown University’s Center for Education and the Workforce in a study finds the fastest-growing occupations will be health care...
Survey Explores How Carriers Support Agency Growth Strategies
Jul 1 2013 // Carriers can be instrumental in helping agencies grow through referrals, expanded coverages, and clear business line or geographic expansion planning. And despite the challenges facing the industry and the broader economy,...
P/C Direct Premium Up Nearly 4.5% for All-Time Industry High
Jul 1 2013 // Direct premium growth for property/casualty insurance companies continues to increase. At year-end 2012, more than $523 billion of direct premium written (DPW) was reported, an all-time high for the industry. For 2012,...
Alberta Farms Avoid Widespread Damage from Worst Flood on Record
Jun 28 2013 // Damage to farmland in southern Alberta is not “widespread” after the region’s worst floods on record, according to Katrina Bluetchen, a spokeswoman for the provincial agriculture ministry. Reports...
Law Firms See Rise in Malpractice Claim Frequency, Severity
Jun 27 2013 // Multi-million dollar payouts for legal malpractice claims are climbing, and so are the total number of claims for law firms, in general. A new study by insurance broker Ames & Gough found that most leading legal...
Car Thefts Up for First Time in Years
Jun 26 2013 // U.S. auto thefts probably rose in 2012 after eight straight years of declines as criminals took advantage of California’s budget cuts and reduced police forces, an insurance-industry group said. Thefts rose 1.3...
Swiss Re sigma Study Finds Global Insurance Premium Growth at 2.4%
Jun 26 2013 // Swiss Re’s latest sigma study reveals that “total global premiums written increased by 2.4 percent in real terms in 2012 to $4.613 trillion. Life premiums expanded by 2.3 percent unwinding some of the...
A.M. Best: P/C Insurer Impairments Down in 2012
Jun 25 2013 // Financial impairments in the property/casualty insurance industry fell more in line with recent trends and historical levels in 2012, following a sharp spike in 2011. There were 21 P/C impairments in 2012, a sizable...
Best Europe Affirms Lloyd’s Syndicate 1225 Ratings; Outlook Stable
Jun 25 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1225, which is...
Auto Insurance Customer Satisfaction Drops Due to Rising Rates: J.D. Power
Jun 24 2013 // Due to rising insurance prices and some unhappiness with policy offerings, overall customer satisfaction with auto insurance companies is down in 2013 from an all-time high in 2012, but remains comparatively high relative...
