Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Best Revises Zurich Outlook to ‘Positive,’ Affirms ‘A’ Ratings
Dec 12 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Zurich Insurance Company (ZIC), the main operating company of...
Best Assigns ‘B++’ Ratings to Oswego; Outlook Positive
Dec 12 2007 // A.M. Best Co. has assigned an issuer credit rating (ICR) of “bbb+” and affirmed the financial strength rating (FSR) of ‘B++’ (Good) of Oswego County Mutual Insurance Company of Parish, NY. Best also...
Consumer Group Challenges Farmers Insurance’s California Homeowners Rate Increase
Dec 7 2007 // A California consumer group is challenging Farmers Insurance Co.’s request for a rate increase of 6.9 percent. The Foundation for Taxpayer and Consumer Rights (FTCR), in a petition filed Monday with the state...
Coastal Flood Peril Study: $3 Trillion Today – $35 Trillion by 2070
Dec 6 2007 // An exhaustive study of the threat posed by coastal flooding warns that “as many as 150 million people in the world’s major cities could be reliant on flood defenses by 2070 – more than three times the 40...
New Report Reveals Future Exposure to Coastal Flood in Key Cities
Dec 4 2007 // As many as 150 million people in the world’s major cities could be reliant on flood defenses by 2070 – more than three times the 40 million people today – as a result of climate change and urban...
Texas Supreme Court Shakes up Outlook for Co-insurers at Odds
Dec 2 2007 // Overpaying insurer may not always have cause of action against underpaying company It is common for an insured to have two insurers cover the same risk. When the insured is sued regarding that risk, both insurers have a...
Five Trends for Agents to Track
Dec 2 2007 // In a poem written 2,000 years ago by Horace, he used the phrase “carpe diem,” which is commonly translated as “seize the day.” Although interpretations of this phrase vary, one interpretation can...
Watson Wyatt: Property/Casualty Insurance Market to Remain Soft in 2008
Dec 2 2007 // The market for property and casualty insurance will stay soft in 2008, as premiums are expected to either decline or remain flat, according to actuarial and risk management experts at global consulting firm, Watson Wyatt...
Fla. Malpractice Insurance Rates Down Four Years After Limits Imposed
Dec 2 2007 // Four years ago, many Florida doctors threatened to quit their practices because their malpractice insurance premiums were spiraling out of control. Some doctors retired early, some moved out of state. A few briefly walked...
Survey: 22,700-Plus Wildfire Insurance Claims Filed in Calif.
Nov 29 2007 // The Insurance Information Network of California has confirmed that at least 22,700 claims filed from October’s Southern California fire and wind storms. The tally includes at least 2,000 insurance claims for damage...
FEMA: Decreasing Temperatures, Increasing Flood Risks for Western Residents
Nov 28 2007 // Winter brings more than just cold temperatures. It also brings an increased flood risk and the Federal Emergency Management Agency (FEMA) is warning residents of Idaho to prepare now — well ahead of rising waters....
S&P Says Saudi Insurance Market Able to Meet Regulatory Challenges
Nov 27 2007 // Standard & Poor’s Ratings Services has said that it considers the Saudi insurance market to possess the “inherent strengths,” which will allow it to “ride out” forthcoming regulatory...
Willis Tracks Q3 Financial, Executive, Professional Risks Trends
Nov 26 2007 // A new survey from Willis Group Holdings has found that “premiums across all financial, executive and professional lines of insurance are decreasing to the levels seen in 1999 and 2000 – the low point of the...
Florida Malpractice Insurance Rates Down 4 Years after Limits
Nov 25 2007 // Four years ago, many Florida doctors threatened to quit their practices because their malpractice insurance premiums were spiraling out of control. Some doctors retired early, some moved out of state. A few briefly walked...
Millea Group Ups Profit Forecast; Subprime Exposure $245 Million
Nov 20 2007 // Japan’s Millea Group – Tokio Marine, Nichido and Nissin Fire – increased its profit forecasts for the fiscal year ending March 2008 by Yen 7.7 billion ($70 million), despite some exposure to subprime...
Survey: 96 Million Households Lack Knowledge on Protecting Electronics
Nov 20 2007 // As the holiday shopping season unofficially kicks off this week, about 42 million American households plan to give or receive high-tech electronic products this year. However, about seven out of eight households...
Florida Regulators Deny Allstate Rate Increases
Nov 19 2007 // The Florida Office of Insurance Regulation issued Notices of Intent to disapprove five rate filings submitted by Allstate Floridian Insurance Co., Allstate Floridian Indemnity Co., Encompass Floridian Insurance Co., and...
Calif. Workers’ Comp Premium Rates Declining
Nov 18 2007 // The Workers Compensation Insurance Rating Bureau of California reported written premium for the first six months of 2007 at an estimated $6.9 billion, approximately 23 percent below the written premium reported for the...
New Players Enter the E&O Market … But Some Agents May Not See Rates Decline
Nov 18 2007 // Despite a rosier outlook in the agents’ errors and omissions (E&O) insurance market compared with years past, many insurance agents still faced rate increases in their E&O coverage in 2007 and anticipate...
Rate Increase OK’d for Texas Windstorm Insurance Association
Nov 16 2007 // Texas Windstorm Insurance Association policyholders’ rates will go up begining Feb. 1, 2008, as a result of rate increases approved by the Texas Department of Insurance yesterday. Texas Insurance Commissioner Mike...
