Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
AXA’s Capital Buffers Beat Expectations as Q1 Sales Rise
May 15 2023 // AXA, Europe’s second-biggest insurance company, posted a better-than-expected key capital buffer measure in the first quarter, reassuring investors on its capacity to generate cash as it navigates a higher interest...
Catalytic Theft Claims Triple in Two Years, Crime Bureau Report Finds
May 12 2023 // Insurance claims for catalytic converter thefts nationwide jumped by 288% in just two years, the National Insurance Crime Bureau said in a new report. Claims rose from 16,660 in 2020 to 64,701 in 2022. Half of the thefts...
Auto Claim Severity Up 35% over Pre-Pandemic Rates – LexisNexis Report
May 12 2023 // Claim severity for bodily injury and property damage increased by 35% since 2019, while collision claim severity has jumped 40%, LexisNexis Risk Solutions says in a new report. The data broker’s 2023 U.S. Auto...
Insurtech Funding Up 38% Over Q4 2022: Gallagher Re
May 11 2023 // Insurtech funding increased nearly 38% from Q4 2022 to Q1 2023, from about $1 billion to about $1.4 billion, according to a new analysis released by Gallagher Re. The U.S. leads France and the UK as the nation funding the...
Hyundai and Kia Thefts Keep Rising Despite Security Fix
May 10 2023 // Nearly three months ago, Hyundai and Kia unveiled software that was designed to thwart an epidemic of thefts of their vehicles, caused by a security flaw that was exposed on TikTok and other social media sites. So far, it...
Cyber Hack to Cost UK Outsourcer Capita Up to $25M
May 10 2023 // British outsourcing company Capita warned it would take a 15 million pound to 20 million pound ($25 million) hit after its systems were hacked in a cyber incident earlier this year. Capita, which provides business support...
It’s Time to Roll up Our Sleeves and Rebuild the Florida Insurance Market
May 10 2023 // With the Florida legislative changes passed in December – prohibiting assignments of benefits and one-way attorney fees – there is now an opportunity to change the dynamic in Florida and create a more stable...
Q1 Commercial P/C Rates Hold Steady, Up 5%: MarketScout
May 8 2023 // In a “deliberate and modest fashion,” the composite rate for commercial property/casualty lines increased 5% during the first quarter 2023, according to MarketScout. The Dallas-based distribution and...
W.R. Berkley CEO Says Insurer Isn’t Going to Chase D&O Market ‘Down the Drain’
May 8 2023 // W.R. Berkley Corp. President and CEO Robert Berkley said the insurer is not going to follow the directors and officers market “down the drain.” During a call with analysts to discuss first quarter earnings,...
Overall Market Sees Greater Stability but Rates Still Up: Risk Strategies Report
May 8 2023 // Cybercrime is up, properties are underinsured, and the management liability market is softening. These are a few of the predictions and results revealed in the Risk Strategies 2023 State of the Market report, which...
Insurance Could Help Drive Gun Safety Efforts, Survey Says
May 5 2023 // Three out of four Americans believe gun owners should be required to have firearm liability insurance, according to a recent survey. Those are the numbers out of a new ValuePenguin survey of 1,995 people ages 18 to 77...
AM Best Revises Outlook to Negative for Louisiana Farm Bureau Mutual
May 4 2023 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Louisiana Farm Bureau Mutual...
Banks and Insurers Increasingly Move Away From Coal: Report
May 4 2023 // Banks and insurers are more frequently adding coal exclusion policies to their investments while those with existing policies are toughening them up despite record profits in the sector, according to a report on...
UK to Ban Cold Calls Selling Insurance and Crypto to Clamp Down on Fraud
May 3 2023 // The UK is to set to ban cold calls that sell financial products including insurance and cryptocurrencies in an effort to crack down on fraud, which costs the country around £7 billion ($8.7 billion) a year. Announcing its...
D&O Prices Plummeting: Record-Level Q1 Drop for Decade
May 3 2023 // The year-over-year decline in D&O insurance prices for the first quarter of 2023 is greater than any prior drop over a comparable period in more than a decade, historical information presented in a new Aon report...
What to Expect: WTW Spring Commercial Insurance Forecasts Mixed
May 3 2023 // In striking contrast to last year’s double-digit rate hikes for public directors and officers liability insurance and 100-200% jumps for cyber coverage, some buyers renewing those coverages this spring won’t...
MGAs, DUAEs Sparked Double-Digit Growth in 2022 U.S. Premiums: AM Best
May 3 2023 // Direct premium written through the delegated underwriting authority enterprises (DUAE) market in the United States continued its significant growth rate in 2022, increasing by 13.8 percent to $67.6 billion, according to a...
Markets/Coverages: RSA Insurance Launches Superyacht Practice, Led by Chubb’s Grew
May 2 2023 // RSA Insurance announced it is launching a Superyacht practice, providing comprehensive cover for the larger end of the market, which is traditionally professionally skippered and crewed. The practice will be led by Emily...
Economic and Cyber Risks Lead Global D&O Concerns: Survey
May 2 2023 // At the top of increasing concerns for directors and officers around the globe are economic, geopolitical and cyber risks, according to the latest Directors and Officers Liability 2023 Survey released by Willis Towers...
New Risk Retention Group Requirements in Question as Fla. Session Winds Down
May 2 2023 // Risk retention groups may not be the sexiest of insurance topics, but they have gained new attention this week after the Florida House of Representatives approved a bill that would require strong financial ratings for the...
