Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
FERMA Cites Survey Highlighting Company Neglect of Cyber Risks
Jan 30 2013 // “Many companies still do not devote sufficient attention to cyber risks, despite an increase in frequency, scope, and sophistication – and harsher penalties for lack of regulatory compliance and loss of...
ACE Limited Forecasts 2013 Profit below Estimates; Shares Drop
Jan 30 2013 // Insurer ACE Limited reported a 24 percent fall in quarterly operating profit, hurt by losses related to Superstorm Sandy, and forecast a full-year profit below analysts’ estimates. After-tax catastrophe losses...
State Farm Homeownes Rate Increase Denied in Louisiana
Jan 28 2013 // Louisiana Insurance Commissioner Jim Donelon has declined to approve a recent homeowners rate request filed by State Farm Fire and Casualty Co. (State Farm). State Farm submitted the request for the +16.6 percent rate...
Best Affirms AIG, U.S. Property/Casualty Subs Ratings; Outlook Stable
Jan 28 2013 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” of New York-based American International Group, Inc. (AIG), as well as the financial strength rating (FSR) of ‘A’ (Excellent) and...
Best Affirms AIG Europe Limited Ratings; Outlook Stable
Jan 28 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of UK-based AIG Europe Limited (AEL), formerly Chartis...
Superstorm Sandy-Related Loss Estimates Pile Up
Jan 28 2013 // Since Superstorm Sandy slammed into the New Jersey coastline on Oct. 29, 2012, dozens of insurers and reinsurers have publicly announced their Sandy-related preliminary loss estimates. The following are loss estimates for...
Best Affirms Arch Re and Operating Affiliates’ ‘A+’ Ratings; Outlook Stable
Jan 25 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of Bermuda-based Arch Reinsurance Ltd. and its strategic affiliates....
Aon Benfield’s 2012 Cat Review Finds 36% Rise in Insured Losses at $133 Billion
Jan 24 2013 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has published its Annual Global Climate and Catastrophe Report along with the establishment of a new website, Catastrophe Insight,...
Best Affirms Swiss Re and Sub’s ‘A+’ Ratings; Outlook Stable
Jan 24 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Swiss Reinsurance Company Ltd and its subsidiaries. Best also affirmed...
Willis Experts See North Africa Terrorist Threats Rising after Algeria Attack
Jan 24 2013 // Tim Holt, Head of Intelligence for Alert: 24, a new risk and crisis management consultancy from Willis Special Contingency Risks (SCR), followed up his earlier comments by warning that the “possible spread of Islamic...
P/C Insurers See ORSA Value to Their Business: Survey
Jan 23 2013 // Many property/casualty insurers are beginning to implement pending Own Risk and Solvency Assessment (ORSA) regulatory requirements in advance of their 2015 effective date and finding the process can be a valuable business...
Travelers Insurance Finds Customers Stay Despite Rising Prices
Jan 23 2013 // Travelers Cos. Inc.’s quarterly profit handily beat Wall Street expectations as it charged more for insurance coverage while holding on to its customers, sending its shares up as much as 5 percent to an all-time...
Securities Fraud Class Actions Declined in 2012
Jan 23 2013 // Fewer investors are taking corporate America to court for fraud. The number of new federal securities fraud lawsuits seeking class-action status fell to a 7-year low in 2012, according to a study by Stanford Law School and...
Willis Identifies Extreme Weather, Brand Damage, Others as 2013 Risk Trends
Jan 23 2013 // A post on WillisWire, the blogging platform of Willis Group Holdings, identifies developing trends cited by insurance experts as key emerging risks for businesses in 2013. Willis said “the increased likelihood of...
Travelers Q4 Profit Down, Hurt by $669M Sandy Loss; Full-Year Profit Up
Jan 22 2013 // The Travelers Companies Inc. today reported net income of $304 million for the 2012 fourth quarter, down 51 percent compared to $618 million net income posted during the same period in 2011. Still, the 2012 full-year net...
Change Forecast for Blizzard of Winter Weather Terms
Jan 18 2013 // Ever hit a mental whiteout pondering the difference between a winter storm watch and winter weather advisory? The National Weather Service is looking at the idea that less is more when it comes to such jargon. This winter,...
A Future Without the Terrorism Insurance Backstop?
Jan 18 2013 // The federal backstop that is widely credited with establishing today’s robust terrorism insurance market may be gone in just 24 months. The consequences could be severe, from reduced availability of coverage to...
Allianz Estimates Sandy Impact at $670 Million; Won’t Affect Profit Forecast
Jan 18 2013 // Germany’s Allianz SE has announced that its losses from Hurricane Sandy are estimated to total €455 million [approximately $607 million at current rates]. Allianz’ bulletin used a lower exchange rate to put...
Del. Traffic Deaths Up in 2012; Increase Driven by Crashes Involving Pedestrians
Jan 17 2013 // Delaware’s Office of Highway Safety says there were 116 traffic fatalities in the state in 2012, a 12 percent increase over 2011. The office says the increase was driven by a spike in crashes involving pedestrians...
Texas Trade Group: Survey Shows Insurance Industry Doing It Right
Jan 16 2013 // While tornadoes and hailstorms were pounding their way through the Dallas/Fort Worth area last year, consumers had confidence that their insurance companies would be there to help with repairs to their cars, homes and...
