Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Report: California Workers’ Comp Quarterly Written Premium Lowest Since 2012
Dec 21 2021 // Written premium for 2020 was $1.9 billion, or 12%, below 2019, and was at its lowest since 2012, a new report out from the Workers’ Compensation Insurance Rating Bureau shows. WCIRB’s quarterly experience...
AM Best Revised Outlooks to Positive for Aspire General in California
Dec 20 2021 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Aspire General Insurance Co. in Rancho...
California DOI: Insurers Non-Renewed Fewer Homeowners in 2020, FAIR Plan Policies Increased
Dec 20 2021 // The number of California homeowners non-renewed by insurers fell by 10%statewide in 2020 compared with the previous year, as mandatory moratoriums by Insurance Commissioner Ricardo Lara made up more than 80% of the...
Why Sales Leaders Fail to Increase Sales (and 7 Things to Do About It)
Dec 20 2021 // A few days ago, I had lunch with a young man who told me that when he was hired as a producer, his sales leader (CEO) said, “If you come work here, we’ll leave you alone.” Look, I understand this new...
Industry Trends to Exploit for 2022
Dec 20 2021 // It is imperative for agency owners to watch and learn about major trends when they start. Following are the eight key trends that insurance agencies should be tracking for 2022. 1. Insurtech Technology Insurance and...
Charitable Giving in 2021: A Year of Rising to Meet New Challenges
Dec 20 2021 // Bringing people together to help others has historically been a defining focus for charitable giving and volunteerism in the insurance industry. Though getting involved has become more complicated over the past year and...
The View for 2022: P/C Insurance Predictions and Trends
Dec 20 2021 // It’s tough to make predictions, especially about the future. — Yogi Berra, Major League Baseball player and humorist Even before 2021’s final results were in the books, the forecasters were looking ahead...
Insurance Agents Eye Changes to Support Growth in 2022
Dec 20 2021 // A majority of insurance agents have a very positive outlook for 2022. About 70% expect their business growth to be on track in the new year, while nearly 20% expect that growth to be “off the charts.” According...
Construction Industry Faces ‘New Age’ Risks Along with Strong Growth Outlook
Dec 20 2021 // The global construction industry’s risk landscape will be transformed by radical changes in design, materials and processes as the industry enters a sustained period of strong growth. The post-Covid-19 growth will be...
Report: California Public Self-Insured Workers’ Comp Indemnity Claim Cost up
Dec 14 2021 // An analysis shows that in the midst of the pandemic, the total number of job injury claims reported by California public self-insured employers edged down slightly last year, but a growing number of lost-time claims and...
‘Catch-Up Care’ Helps Explain Rise in Employers’ Health Insurance Costs: Mercer
Dec 14 2021 // Health insurance costs for employers rose the most in over a decade this year as Americans resumed non-urgent procedures delayed earlier due to the COVID-19 pandemic, according to a survey published on Monday. The survey...
Tornadoes That Ripped Across Central U.S. Could Be Costliest Outbreak on Record
Dec 13 2021 // A group of tornadoes that tore across the central U.S. on December 10 and 11 resulted in widespread damage in several states and could serve as the nation’s costliest tornado outbreak on record. “Based on...
Rising Insurance Costs Add to Public Finance Sector’s Cyber Pressures
Dec 10 2021 // The growing pace and sophistication of cyberattacks on U.S. public finance entities has led to rising costs and challenges in acquiring robust cyber insurance coverage. Fitch Ratings says public entities are increasingly...
Is There a Limit to MGA Growth?
Dec 10 2021 // This post is part of a series sponsored by AgentSync. Here at AgentSync, we love talking about growth. Personal growth, professional growth, company growth; we even have an internal slack channel called green-thumb-agents...
Flood Insurance Costs Rise in Louisiana as Risk Rating 2.0 Sets in
Dec 9 2021 // In the past year, the southwestern Louisiana city of Lake Charles weathered two hurricanes, intense rainfall that sent water gushing down streets and a deep freeze that burst pipes. Yet Tommy Eastman may eventually drop...
Rising Reinsurance Prices and Demand Help to Create Stable Sector Outlook: AM Best
Dec 9 2021 // AM Best is maintaining a stable market segment outlook for the global reinsurance segment, citing in part the ongoing positive pricing momentum driven by rising loss cost inflation, enhanced underwriting discipline,...
Wrapping up Hurricane Season: Ida, Katrina, and the Importance of Adequate Loss Modeling
Dec 9 2021 // This post is part of a series sponsored by CoreLogic. With the 2021 hurricane season coming to an end, insurers and government agencies are beginning to take stock of what occurred and how damages stacked up compared to...
Chewy Chases Share of Growing Pet Insurance Market With Trupanion
Dec 8 2021 // E-commerce pet products company Chewy plans to begin selling pet health insurance plans from pet insurer Trupanion to its 20 million customer base. The insurance will be sold under the Chewy Health brand that includes...
Goosehead Insurance to Enter Life Insurance Market with Ethos
Dec 8 2021 // Independent personal lines insurance agency, Goosehead Insurance Inc., has enter into the life insurance space through an alliance with insurtech Ethos Life (Ethos). The company announced today that through...
Property Catastrophe Reinsurance Renewal Rates to Rise by More Than 10%: Fitch
Dec 7 2021 // Reinsurance rates are expected to increase by more than 10% in catastrophe-related lines of business when contracts are renewed in January 2022, which supports an improving sector outlook for 2022, according to Fitch...
