Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Report: New Orleans Wasted Money on Life Benefits for Years
Feb 9 2012 // The city misspent around $500,000 on employee benefits during a span of eight years, according to a report released by the New Orleans Inspector General. The inspector general’s office evaluated the city’s...
Report: Active 4Q Pushes 2011 Cat Bond Issuance Over $4 Billion
Feb 8 2012 // It was a traditionally active fourth quarter for cat bond issuance stayed in 2011, according to the Insurance-Linked Securities Market Update from Willis Capital Markets & Advisory. The quarter saw nine new non-life...
TomTom Sees Potential in Europe’s Auto Insurance Market; Motaquote Signs On
Feb 8 2012 // TomTom satnavs will in future help insurers tell the difference between a good driver and a bad one under a scheme designed to revive the Dutch navigation device maker’s flagging fortunes. The company, which made its...
Selective Posts $16M Q4 Profit; Jan. Commercial Renewal Rates Up 4.5%
Feb 7 2012 // Selective Insurance Group, based in Branchville, New Jersey, reported $16.1 million for its 2011 fourth-quarter net income, down 32 percent from one year ago when the insurer posted $23.8 million profit. For the 2011 full...
Mercury General Corp.’s 4Q Net Premiums Up Slightly; Declares Quarterly Dividend
Feb 6 2012 // Mercury General Corp. announced on Monday that net premiums written were $618.6 million in the fourth quarter of 2011, a 0.2 percent increase compared from the fourth quarter of 2010, and net premiums were $2.6 billion for...
Best Upgrades Validus Re’s Ratings; Outlook Revised to Stable
Feb 6 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Bermuda-based...
Global Mining Insurance Market Capacity Down 30% After Losses: Willis
Feb 6 2012 // In 2011, the mining insurance market was not only hit by $2.7 billion in natural catastrophe losses, but over 60 operational losses totaling $835 million. The $3.5 billion total estimate of losses facing mining insurers...
Conning: P/C Premiums to Grow 3% to 4% in 2012
Feb 6 2012 // Property/casualty insurers are facing a difficult environment in 2012, according to a forecast from analysts at a Hartford, Conn., insurance consulting firm. The difficult environment will include volatility in the...
Increase in U.S. Tort Costs Driven by Gulf Oil Spill: Study
Feb 6 2012 // The April 2010 Deepwater Horizon drilling rig explosion and resulting oil spill in the Gulf of Mexico were the key drivers in the 5.1 percent increase in U.S. tort costs in 2010, according to a new report. The 2011...
Nonprofits Show Job Growth Despite Decade of Turmoil
Feb 6 2012 // Defying two recessions, the nonprofit sector posted a remarkable 10-year record of job growth, achieving an average annual growth rate of 2.1 percent from 2000 to 2010, while for-profit jobs declined by an average of minus...
Travelers’ Commercial Renewal Rates Up 8% in Q4
Feb 6 2012 // Travelers Companies Inc.’s business insurance had renewal premium rate gains of 8 percent for the fourth quarter 2011 and 10 percent for December, said CEO Jay Fishman. He offered his remarks during the earnings call...
Penn. Regulators Approve 5.7% Decrease in Workers’ Comp Costs
Feb 3 2012 // The Pennsylvania Insurance Department has approved a 5.7 percent decrease in overall workers’ compensation costs that will result in $160 million in savings for Pennsylvania employers. Regulators said employers can...
ABI Warns of Increased Flood Risks in England and Wales
Feb 1 2012 // The Association of British Insurers (ABI) has warned that the flood risk faced by communities in political constituencies across England and Wales presents a “worrying”‘ situation. It selected...
W.R. Berkley Posts Q4 Profit of $118M; Average Renewal Rates Up 4.2%
Feb 1 2012 // W.R. Berkley Corporation reported net income of $117.9 million for its 2011 fourth quarter, a 7 percent decline compared to the same period one year ago when the company reported $126.9 million net income. The Greenwich,...
Report: California Workers’ Comp Insurers Returns Improved in 2010
Jan 31 2012 // After declining for four consecutive years, California workers’ compensation insurers’ return on net worth showed signs of improvement in 2010. That’s according to the data from the National Association...
Best Affirms American Service Pool Ratings; Outlook Stable
Jan 31 2012 // A.M. Best Co. has affirmed the financial strength rating of ‘B’ (Fair) and issuer credit ratings (ICR) of “bb” of Illinois-based American Country Insurance Company and American Service Insurance...
Willis Re Notes 25% Growth in Insurance Loss Warranty Market
Jan 31 2012 // A report from Willis Re in London points to 2011 activity as driving a 25 percent growth in Insurance Loss Warranties (ILWs) volume for 2012. The report estimates that the ILW market reached trading volumes of $6 billion...
French P/C Insurers’ Outlook Now Stable: Moody’s
Jan 31 2012 // In a new industry outlook published today, Moody’s Investors Service says that it has changed the outlook for the French property and casualty (P/C) sector to stable from negative, reflecting insurers’ smooth...
Chubb Says Commercial Renewal Rates Rose 6% in Q4, Up From 4% in Q3
Jan 30 2012 // Chubb Corporation said its commercial insurance renewal rates were up 6 percent in the 2011 fourth quarter, as the pace of renewal rate increases continues to accelerate. Chubb also said it secured renewal rate hikes in...
Agency Compensation Expected to Rise in 2012: Ward Group
Jan 30 2012 // Contingent commission payouts to insurance agencies are estimated to be 12 percent higher in 2012 than 2011, a new study says. The study by the Ward Group also found that carriers are continuing to increase their volume...
