Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
China’s Regulators Commit to Growth and Reforms, Seeking to Allay Foreign Concerns
Nov 2 2022 // China’s top financial regulators said on Wednesday that economic growth remains a priority and reforms and liberalization would continue, seeking to allay foreign investors’ fears that ideology could take...
Q3 Net Income Down 30% at The Hartford; $214M in Ian Losses
Oct 31 2022 // Compared to the same window last year, net income at The Hartford was down during the third quarter of 2022 – but core earnings were up during what the company’s CEO described as a strong stretch. Third quarter...
WTW Posts Drop in Q2 Net Income, Revises 2024 Outlook on Russia Losses
Oct 28 2022 // Third-quarter net income at broker WTW was $192 million compared to $907 million during the prior-year third quarter. Net income for the third quarter 2021 included the $1 billion income receipt that was received as a...
Acrisure Continues UK Growth by Acquiring Sutton Winson and Sutton Specialist Risks
Oct 28 2022 // Acrisure, the Grand Rapids, Mich.-based insurance broker and fintech specialist, announced the acquisitions of Sutton Winson and Sutton Specialist Risks (SSR), in the UK. The deals are expected to close in the near term,...
Global Insurance Rates Continue Rising at Slower Levels; Cyber Outpaces Other Lines
Oct 27 2022 // Global insurance pricing continued to rise, although at a slower pace, during the third quarter, which saw commercial insurance premiums increase an average of 6%, down from 9% in Q2, according to Marsh’s Global...
Bad Driving, Inflation Among Factors Pushing Increase in Auto Loss Ratios
Oct 27 2022 // US auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and...
A Decade After Sandy, New York City Resiliency Projects, Spending Lag: Comptroller
Oct 26 2022 // Ten years after Superstorm Sandy pounded New York City’s coastal areas, taking 43 lives and causing $19 billion in damages, many resiliency projects remain years from completion and billions of dollars in recovery...
Chubb’s Q3 Numbers: Net Income Falls on Realized Losses; P/C Profits Up 15%
Oct 26 2022 // In spite of incurring nearly $1 billion in pre-tax net losses from Hurricane Ian, Chubb reported a combined ratio of 93.1 for the third quarter of 2022, representing $710 million in underwriting income. Property/casualty...
Companies Increasingly Keep Climate Pledges Secret as ‘Green Hushing’ Takes Off
Oct 25 2022 // Companies are increasingly trying to keep their climate pledges away from public scrutiny. The phenomenon, known as green hushing, has become pervasive even as businesses set more ambitious internal targets, according to a...
With Less Reinsurance for Reinsurers, Prices Set to Rise Again for Florida Carriers
Oct 25 2022 // It has been three weeks since Hurricane Ian struck Florida on Sept. 28, 2022. The storm took at least 119 lives and caused estimated insured losses ranging from $31 billion to $74 billion, with most estimates in the $60...
Few Insurers Offer Input on Future of the Federal Home Loan Bank System
Oct 24 2022 // Very few insurance companies showed up this month to talk about the future of the much-debated, 90-year-old Federal Home Loan Bank System, despite the fact that the system lends heavily to many large insurers at low...
7 Steps to Combat the Rising Threat of CPC Theft for drivers and fleet carriers
Oct 24 2022 // This post is part of a series sponsored by IAT Insurance Group. Recently, 24 commercial trucks were rendered useless at an auction house in Pennsylvania when the Common Powertrain Controller (CPC) modules were stolen from...
People Moves: Munich Re’s Blunck to Succeed Jeworrek Who Is Stepping Down; Lloyd’s Market Association Appoints 3 New Board Members
Oct 20 2022 // The Supervisory Board of Munich Re has appointed Dr. Thomas Blunck (age 57) as the chair of the Reinsurance Committee of the group’s Board of Management with effect from Jan. 1, 2023. He will succeed Dr. Torsten...
Insurers Increasingly Withdraw From Fossil Fuel Projects: Climate Activists’ Report
Oct 20 2022 // Insurance companies that have long said they’ll cover anything, at the right price, are increasingly ruling out fossil fuel projects because of climate change – to cheers from environmental campaigners. More than a...
Allstate Expects Q3 Net Loss Up to $725M; Ian Caused $366M Net Loss
Oct 19 2022 // Allstate Corp said it expects to report a third quarter net loss of of between $675 million and $725 million with pre-tax catastrophe losses, net of reinsurance, of $763 million. Catastrophe losses net of reinsurance for...
Idaho’s Workers’ Comp Rates Decreasing 11.5% for 2023
Oct 18 2022 // The Idaho Department of Insurance accepted a 11.5% reduction in rates, effective January 1, 2023. This follows the National Council on Compensation Insurance submission of its annual rate recommendation to the Idaho...
Ride-Hailing Firm Lyft Hikes Service Fee for Rides as Insurance Costs Rise
Oct 18 2022 // Lyft Inc. is increasing the service fee its U.S. riders pay directly to the company to cover higher insurance costs, the ride-hailing firm said. The increase averages less than 50 cents per trip nationally, a Lyft...
Legislative Action Aims to Ease Florida Homeowners Insurance Market Struggles
Oct 17 2022 // This post is part of a series sponsored by AgentSync. Florida’s struggles to retain a property and casualty (P&C) insurance market have made headlines and spurred a special legislative session this year. With a...
Why Regulatory Interference Drives Property Insurance Market Instability
Oct 17 2022 // Many states are facing a growing affordability and availability crisis in property insurance markets, and it’s not just because of climate change. While climate change is leading to more severe and frequent natural...
Future of Insurance: How Technology May Change P/C Underwriting and More
Oct 17 2022 // With rising inflation and the prospect of a recession on the horizon, the present macroeconomic environment is forcing property/casualty underwriters to adapt to new technologies and sources of data. All the while,...
