Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
California Workers’ Comp Premium Down Nearly 10%
Jun 8 2010 // California workers’ compensation total direct written premium (DWP) fell nearly 10 percent last year, dropping to a nine-year low of $6.9 billion, according to market share data from the National Association of...
The Right Relationship Chemistry Can Increase Sales, Create Succession Plan
Jun 7 2010 // As John Lennon and Paul McCartney could tell you, sometimes you just need a little help from your friends. And in the insurance agency business – where building relationships are key to success – that friend...
California Workers’ Compensation Insurance Market More Lucrative
Jun 7 2010 // Prices are improving in the California workers’ compensation insurance market – at least according to one specialty workers’ compensation carrier in the Golden State. According to PacificComp President...
Rating Agencies React to BP’s Oil Spill; Best Revises Jupiter Outlook
Jun 4 2010 // The mounting financial costs for British Petroleum from the multiple impacts of the oil spill in the Gulf of Mexico have placed its formerly strong ratings in peril. Financial rating agencies Fitch and Moody’s have...
Hail Loss Claims Up 61%; Suspicious Claims Up 136%
Jun 3 2010 // The number of hail loss claims filed with insurers increased by 61 percent, from 256,000 in 2006 to over 413,000 in 2009. At the same time, the number of claims referred for suspected fraud increased by 136 percent, from...
CSU Team Increases 2010 Atlantic Hurricane Forecast to 10
Jun 2 2010 // The 2010 Atlantic hurricane season is likely to produce 10 hurricanes, five of them major, the Colorado State University hurricane forecasting team said Wednesday, increasing a previous estimate for a “very...
New York Plans Hearing over Increase in Workers’ Comp Loss Costs
Jun 2 2010 // The New York Insurance Department will hold a hearing later this month to consider a 7.7 percent in workers’ comp loss costs that has been recommended by the state’ rate service organization, the New York...
Best Affirms RLI Group’s ‘A+’ Ratings; Outlook Stable
Jun 1 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of RLI Group and its members. Best also affirmed the ICR of...
S&P Lowers State Auto Group’s Ratings to ‘A-‘; Outlook Stable
Jun 1 2010 // Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on the operating insurance companies of State Auto Group to ‘A-‘ from ‘A’. S&P...
Florida Reinsurance Prices Decline 10-12% at Renewal: Guy Carpenter
Jun 1 2010 // Reinsurance pricing at the June 1, 2010 Florida renewal are down by 10 percent to 12 percent on average, on a year-over-year risk adjusted basis. That’s according to reinsurance intermediary Guy Carpenter & Co.,...
Best Affirms Hiscox USA Group’s ‘A’ Ratings; Outlook Stable
May 28 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Hiscox USA Group, and its lead member, Hiscox Insurance Company Inc....
Saft: Lessons for U.S., UK from Japan’s Lost Decade
May 28 2010 // Deflation and a lost decade can be avoided it seems; all we need are perfect central bankers, sensible politicians, a biddable electorate and cooperative investors. Nothing to worry about there, then. In a speech on...
Best Affirms Ironshore’s ‘A-‘ Ratings; Outlook Stable
May 27 2010 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb-” of Ironshore Inc. ,based in the Cayman Islands, and the financial strength rating of ‘A-‘ (Excellent) and ICRs of “a-”...
Aon: P/C Insurance Rates Decrease, Capacity Continues to Increase
May 27 2010 // Property rates will continue to drop 5 percent to 15 percent for most risks, despite record global catastrophic losses seen in early 2010, according to Aon Corp.’s 2010 U.S. Insurance Market Overview. Property...
NOAA Cites Factors Supporting Forecast of Busy Hurricane Season
May 27 2010 // An “active to extremely active” hurricane season is expected for the Atlantic Basin this year, according to the seasonal outlook issued today by NOAA’s Climate Prediction Center – a division of the...
Survey: Agents Seek More Real Time Options from Carriers
May 26 2010 // Independent agents and brokers want more carriers to offer real-time functionality, according to a new industry survey. Agents believe those carriers will deliver the greatest benefit in making real time the predominant...
Survey: Michigan Employers Shifting Healthcare Costs to Employees
May 25 2010 // A survey of mid-sized Southeast Michigan employers shows that health benefits are on par with national trends as traditionally rich benefit offerings go by the wayside, according to McGraw Wentworth, a Michigan-based...
Report: Property, Violent Crimes Drop by 5% in 2009
May 25 2010 // Crime rates declined in both violent and property crimes in the United States last year, according to the FBI’s Preliminary Annual Uniform Crime Report released today. Preliminary 2009 statistics indicate that...
MGAs Called Critical to Florida’s Property Insurance Market
May 25 2010 // Several of Florida’s insurers with affiliated managing general agencies (MGAs) have come in for criticism recently but there is no widespread problem with the MGA model, regulators and insurance industry executives...
Tropical Storm Risk Forecasts Active 2010 Hurricane Season
May 25 2010 // Tropical Storm Risk (TSR) provides “real-time mapping and prediction of tropical cyclone wind fields worldwide.” The firm is co-sponsored by Aon Benfield, with RSA and Crawford & Company. It has just...
