Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Use of Fertilizer Behind Explosions, Fires Declines Due to High Risks
Feb 2 2022 // The nitrogen fertilizer causing a stir over imminent danger of explosion in North Carolina has been fading from the U.S. market exactly because of this kind of risk. Ammonium nitrate was the first solid nitrogen fertilizer...
Take This Year’s Agency Salary Survey: Deadline Friday
Jan 31 2022 // Each year Insurance Journal asks retail agency owners, principals, producers, CSRs — the entire agency — to participate in the Insurance Journal Agency Salary Survey for publication in Insurance Journal...
Climate Risk Is Top London Market Challenge, IUA Survey Shows
Jan 27 2022 // The top challenge currently facing London market insurance companies is climate risk, a new survey by the International Underwriting Association (IUA) has revealed. In a survey of its members, the organization recorded 27%...
U.S. Surplus Lines Premium Up 22% in 2021
Jan 26 2022 // Surplus lines premium increased 22% and transactions rebounded almost 6.6% over their 2020 totals in the 15 states with designated surplus lines stamping offices. The increases represented record levels of premium ($51...
Loss Costs Outpace Increase in Premiums for U.S. P/C Industry Through Q3
Jan 25 2022 // Direct-premium production for the U.S. P/C industry through the third quarter 2021 improved as insurers increased rates, but adverse trends in loss costs for many lines of business continue to dampen profitability. Through...
World’s Largest Asset Owners Pledge to Halve Emissions in Portfolios by 2030
Jan 25 2022 // A group of the world’s largest asset owners managing $10.4 trillion said on Tuesday they would step up their response to climate change and aimed to at least halve carbon emissions from their investment portfolios by...
Insurtech Root Lays Off 330 Employees as Loss Costs Increase
Jan 24 2022 // Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, announced yesterday that it has laid off approximately 330 team members throughout its business. Co-Founder and CEO Alex Timm in an...
Secondary Perils Are Increasing Share of U.S. Catastrophe Losses
Jan 24 2022 // Secondary peril events such as wildfires, tornadoes and severe thunderstorms are becoming more impactful and generating an increasingly larger amount of insured losses, affecting the bottom lines of personal and commercial...
UK Insurtech Zego Expands in Europe, Targeting £20B Fleet Insurance Market
Jan 20 2022 // Commercial motor insurer Zego announced a European expansion plan by launching in the Netherlands and ramping up operations in France, while aiming to identify other target territories during 2022. The company, which...
Florida OIR To Hold Hearings Friday on Big Rate Increases for Three Carriers
Jan 20 2022 // Florida regulators will hold hearings Friday, Jan. 21, on another round of hefty rate hikes requested by property insurers facing losses in the state’s distressed property insurance market. Southern Fidelity...
UK Car Insurance Premiums Expected to Be Volatile in 2022: Survey
Jan 19 2022 // The cost of a comprehensive car insurance policy in Britain is expected to be volatile this year, after rising 5% in the final quarter of 2021 as more drivers took to roads on easing COVID-19 curbs, a survey showed on...
Report: Louisiana Seafood Industry Saw $580M in Losses From 2020-21 Hurricanes
Jan 19 2022 // Louisiana’s fisheries and seafood businesses experienced approximately $580 million in total losses resulting from four hurricane between August 2020 to August 2021, according to a new report by the Louisiana Sea...
Lloyd’s Weighs Future of Headquarters as Market Embraces Flexible Working
Jan 18 2022 // Lloyd’s of London is reviewing its real estate needs as the historic insurance market embraces flexible working. “As we adapt to new structures and flexible ways of working, we are continuing to carefully think...
Florida Power & Light Class Action Opens Door to Subrogation, Future Storm Claims
Jan 18 2022 // A Miami judge’s certification of a lawsuit against Florida’s largest utility company as a $10 billion class action, with damage claims from more than 4 million people who lost power in Hurricane Irma, could...
Container Shipping Giant Maersk Speeds Up Decarbonization Target by a Decade
Jan 14 2022 // COPENHAGEN – Container shipping giant A.P. Moller-Maersk now plans to achieve net zero emissions in its business by 2040, a decade earlier than previously announced, on the back of rising customer demand for green...
Workplace Class Action Payouts Unexpectedly Grew During Pandemic in 2021
Jan 14 2022 // The cost of settling workplace class-action lawsuits reached a record high in 2021, defying expectations that the COVID-19 pandemic would decrease the size and reduce the number of payouts, according to a new report by the...
‘Cybersecurity Failure’ Named a Critical Global Threat in WEF Survey Report
Jan 13 2022 // “Cybersecurity failure” was identified as a critical short-and-medium-term threat to the world by respondents of the World Economic Forum’s Global Risks Perception Survey (GRPS). GRPS respondents rank...
Reinsurers’ 2022 Profit Outlook Better Than Primary Insurers: Fitch
Jan 13 2022 // The trailing impacts of premium and loss trends on the books of property/casualty reinsurers makes the 2022 outlook for reinsurers rosier than the profit outlook for primary insurers, a Fitch Rating analyst said. Longer...
5 Insurance Industry Predictions for 2022
Jan 13 2022 // This post is part of a series sponsored by AgentSync. It’s starting to feel like a New Year’s tradition. But we’re not talking about the ball drop or kissing your beau at midnight. For the past several...
Smart Guns Finally Arriving in U.S., Seeking to Shake Up Firearms Market: Reuters
Jan 12 2022 // Personalized smart guns, which can be fired only by verified users, may finally become available to U.S. consumers after two decades of questions about reliability and concerns they will usher in a new wave of government...
