Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
U.S. Cities Are Backing Off Banning Facial Recognition as Crime Rises
May 12 2022 // Facial recognition is making a comeback in the United States as bans to thwart the technology and curb racial bias in policing come under threat amid a surge in crime and increased lobbying from developers. Virginia in...
Claims Frequency Up for 2021, but Workers’ Comp Profitability ‘Unprecedented’
May 11 2022 // For the first time in more than a decade, workers’ compensation claims frequency, outside of COVID-19 illness claims, increased in the United States last year. But not to worry, the trend won’t last, and the...
Forecast Calls for High Risk of Wildfires in Central Oregon
May 10 2022 // As summer approaches forecasters say Central Oregon has the highest fire risk of anywhere in the state. Oregon Public Broadcasting reports the latest fire season outlook, released this week by the National Interagency Fire...
Rapid Cyber Premium Growth by Fairfax, Tokio Marine Increased Share of Market
May 9 2022 // The top cyber insurance carriers in 2021 shifted to include Fairfax Financial Holdings and Tokio Marine U.S. as the marketplace grew 74% to over $4.8 billion, according to a report from Fitch Ratings. Overall, the top...
Report: Michigan 2020 Dam Failures Were ‘Preventable’
May 6 2022 // The failure of two Michigan dams that forced evacuation of 10,000 people and destroyed 150 homes was “foreseeable and preventable,” resulting from errors and miscalculations over nearly a century, an expert...
Tornadoes Hit Texas, Oklahoma; More Storms in Forecast
May 6 2022 // A springtime storm system spawned several tornadoes that whipped through areas of Texas and Oklahoma, causing damage to a school, a marijuana farm and other structures. There were no reports of serious injuries following...
Most Homeowners Underinsured for Trends in Inflation, Building Costs: APCIA
May 6 2022 // A new American Property Casualty Insurance Association (APCIA) survey of over 1,000 U.S. homeowners who have a homeowners insurance policy, reveals a majority of insured homeowners have not taken important steps to ensure...
Report: Wisconsin Refinery Knew About Issues Before 2018 Blast
May 5 2022 // Officials at a northwestern Wisconsin oil refinery knew about equipment issues years before a 2018 explosion there, according to Occupational Safety and Health Administration documents obtained by Wisconsin Public...
EU Regulator Warns of Increased Risk to Airlines as Result of Ukraine War
May 5 2022 // The European Union’s Aviation Safety Agency (EASA) regulator warned on Thursday of increased risks to airlines due to the war in Ukraine, such as civil planes being accidentally targeted as well as an increased risk...
Report Forecasts ‘Above-Normal’ U.S. Wildfire Season, Worse in Drought-Plagued West
May 4 2022 // The U.S. has in store an “above-normal” wildfire season if a prediction out on Wednesday from fire weather experts holds true – “intense” may be a better word for the expectations in Western...
U.S. SEC Ramps Up Crypto Fraud Oversight by Adding 20 Employees
May 3 2022 // The U.S. Securities and Exchange Commission (SEC) said on Tuesday it will add 20 positions to its enforcement unit for crypto markets in its push to curb fraudulent activities in the hot digital space. The securities...
Net Zero Business Opportunities Could Double Size of London Insurance Market: LIIBA
May 3 2022 // The business opportunities provided by the global transition to net zero is potentially large enough to double the size of the London insurance market, according to the London and International Insurance Brokers’...
Cyber Premiums Rapidly Grew 74% in 2021: Fitch
May 2 2022 // According to estimates by Fitch Ratings, direct written premiums (DWP) for standalone and packaged cyber insurance increased 74% to nearly $5 billion in 2021 compared with overall growth for the property casualty industry...
Malpractice Insurance Premiums Increased 22%, Despite Fewer Claims
May 2 2022 // The number of malpractice claims filed against hospitals and physicians dropped 14% in 2020, even as premiums rose 22% on average, according to the most recent report by the American Society for Health Care Risk Management...
Allstate to Increase Magnitude of Auto Rate Hikes in 2022
May 2 2022 // Allstate said it is raising auto insurance rates more due to continued upticks in physical damage and bodily injury severity. The personal property insurer said in a statement on April 21 that first quarter unfavorable...
Workers’ Comp: A Shining Star in the P/C Sky, But the Future Is Less Bright as Workforce Changes
May 2 2022 // Workers’ compensation continues to be the shining star in the property/casualty insurance market. Despite a 9% decline in direct premiums written to $44.3 billion, and a combined ratio in 2020 (91.1%) that was just a...
Markets/Coverages: QBE N.A. Starts Specialty Casualty; Ryan Specialty, Harleysville Team Up; Coalition, Vantage Capacity Partners; Joyn Expands Offerings
Apr 29 2022 // QBE North America launches Specialty Casualty business QBE North America today announced the launch of a Specialty Casualty business as part of its strategy to invest in areas where the insurer can offer distinct...
Climate Change Could Put 4% of Global GDP at Risk by 2050: S&P Study
Apr 27 2022 // Climate change could see 4% of global annual economic output lost by 2050 and hit many poorer parts of the world disproportionately hard, a new study of 135 countries has estimated. Ratings firm S&P Global, which gives...
National Guard Called Up to Help NW Minnesota Flood Threat
Apr 26 2022 // Volunteers and National Guard members in northwestern Minnesota spent two days sandbagging to fortify the city of Crookston from an expected record flood along the Red Lake River. Minnesota Gov. Tim Walz authorized 100...
81% of Flood Insurance Policyholders Will See Rate Increases, Report Says
Apr 26 2022 // When the Federal Emergency Management Agency rolled out a major overhaul to its beleaguered National Flood Insurance Program last April, it promised that bigger, richer homes would bear the brunt of premium increases,...
