Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Agencies Ride Commercial Prices, Reopened Economy to Record Organic Growth
Aug 17 2021 // Buoyed by the hard market and rebounding economy, Independent insurance agents and brokers grew overall by 7.1% in the second quarter, surpassing the 6.9% organic growth reported eight years ago in the second quarter of...
Forecast: Smaller Corn Crop Expected in Kansas
Aug 16 2021 // Kansas farmers are expected to harvest a smaller corn crop this season, according to a forecast released Aug. 12. The National Agricultural Statistics Service said in its monthly production report that the state is...
Insurance Fraud Referrals Up by 11% in Minnesota in 2020
Aug 16 2021 // The number of insurance fraud investigations in Minnesota in 2020 rose by 11% compared with 2019, according to the state’s primary law enforcement agency focused on white collar crime. The Minnesota Commerce Fraud...
Willis Towers Watson Promotes Hess to President and Future CEO
Aug 16 2021 // Insurance broker Willis Towers Watson announced that its board of directors has unanimously selected Carl Hess as the company’s new president and next chief executive officer. Hess, who currently serves as Willis...
Healthcare Costs, Premiums Likely to Rise for Years Due to COVID-19
Aug 16 2021 // Health implications related to COVID-19 will continue to drive elevated health system utilization long after the acute phase of the pandemic has concluded, likely leading to increasing costs and higher insurance premiums...
California Workers’ Comp Written Premium Down 13%, Report Shows
Aug 16 2021 // California workers’ compensation written premium for the first quarter of 2021 was 13% below that for the first quarter of 2020, according to a quarterly experience report issued by the Workers’ Compensation...
Global Insured Disaster Losses Reach US$42B in H1 as 2nd Highest on Record: Swiss Re
Aug 13 2021 // Estimated insured losses from natural catastrophes reached US$40 billion during the first half – driven by a deep winter freeze, hailstorms and wildfires, while man-made disasters triggered another estimated US$2 billion...
Increasing COVID-19 Vaccination Rates in Florida, Texas Could Have Saved 4,700 Lives Through July
Aug 13 2021 // The success of COVID-19 vaccination campaigns in many states demonstrates the real-world feasibility, and impact, of achieving high vaccination coverage. By the end of July, the five highest-performing states — Vermont,...
Worst Algerian Wildfires in Decades Kill at Least 65 People
Aug 12 2021 // The worst wildfires in decades have killed at least 65 people in Algeria’s forested mountains, making it the latest Mediterranean nation to be struck by devastating blazes as temperatures have risen to unprecedented...
People Moves: Gallagher Names Hughes as Aerospace Consultant; Tokio Marine HCC Hires Faubert for Credit & Political Risk; Enstar’s CFO to Step Down
Aug 11 2021 // This edition of International People Moves covers appointments for broker Gallagher in London, for insurer Tokio Marine HCC – Credit Group in Paris, and for Enstar Group in Bermuda. A summary of these new hires...
Insurance Becomes Top Operating Cost Concern for Small Canadian Firms: Survey
Aug 11 2021 // Insurance has become the top operating cost concern for small businesses in Canada with seven in ten reporting that their premiums have gone up since the beginning of the year, according to the Canadian Federation of...
Epstein Victims Fund Wraps Up After Paying More Than $120 Million in Claims
Aug 11 2021 // A fund to compensate victims of Jeffrey Epstein is concluding its claims process after awarding more than $120 million, its administrator said. The announcement Monday comes one day before the second anniversary of...
Amazon Will Pay Shoppers’ Product Claims Up to $1,000
Aug 10 2021 // Amazon.com Inc. on Tuesday said it would pay customers who suffer injuries or property damage from defective goods others sell on its U.S. platform, in a new policy that could reduce litigation. For years, consumers have...
Munich Re’s Q2 Profit Rises 91%, While COVID-19 Losses Outpace Expectations
Aug 10 2021 // German reinsurance group Munich Re said on Tuesday it would meet its 2021 profit goal as it raised its forecast for gross premiums and predicted higher pandemic-related losses than previously anticipated. Munich Re made...
Once-in-50-Year Heat Waves Now Happening Every Decade: U.N. Climate Report
Aug 10 2021 // Extreme heat waves that previously only struck once every 50 years are now expected to happen once per decade because of global warming, while downpours and droughts have also become more frequent, a U.N. climate science...
TWIA to File for Rate Increase; TDI Proposes Member Assessment Rule Change
Aug 6 2021 // The property insurer of last resort for wind and hail in counties along the Texas coast will file for a 5% rate hike for both residential and commercial properties in its required annual filing with the Texas Department of...
Progressive Insurance Hurt by Rise in Auto Claims, Low Premiums in Q2
Aug 6 2021 // Progressive Corp. reported a 56% decrease in net income to $790.1 million for the second quarter. Net income was down 9% for the first six months. The company said the largest contributor to the year-over-year decreases...
Fatal Overdoses in Kentucky Grew 49% in 2020
Aug 6 2021 // Fatal drug overdoses in Kentucky _ an ongoing scourge that has ravaged communities in the state _ surged nearly 50% last year and isolation caused by the COVID-19 pandemic was a “major contributing factor,” a...
Allianz Posts 46% Jump in Q2 Profit, with Rosy Outlook Expected
Aug 6 2021 // FRANKFURT – German insurer Allianz on Friday posted a better-than-expected 46% jump in second-quarter net profit and provided a rosier outlook for the full year as it emerges from pressure on business caused by the...
U.S. West Consumer Survey: 4-in-10 Policyholders Don’t Talk to Insurer About Wildfire Risks
Aug 5 2021 // Most residents of the wildfire-plagued Western U.S. believe in mitigation efforts, but fewer are actually taking such steps – while more than 40% have never spoken to their insurer about wildfire risk, according to a...
