Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
AIR Worldwide Estimates Insured Losses for Hurricane Ida Could Be Up to $25 Billion
Sep 3 2021 // Insurance industry insured losses to onshore property resulting from Hurricane Ida’s winds and storm surge will range from $17 billion to $25 billion. AIR’s modeled insured loss estimates include insured...
Traffic Deaths Up 10.5% in First Three Months of 2021
Sep 2 2021 // New data shows a sustained increase in U.S. traffic deaths that regulators ascribe to impaired driving, speeding, a failure to wear seats beats and other unsafe behavior since the start of the coronavirus pandemic. The...
Singapore Exchange Looks to Tap Into SPAC Trend by Relaxing Rules
Sep 2 2021 // Singapore Exchange unveiled new rules allowing special purpose acquisition companies (SPACs) to list in the city-state, after easing some measures viewed as too strict by participants, as it seeks to tap a global trend in...
Judge Will Approve Purdue Bankruptcy Plan, Freeing Sacklers From Future Liability Suits
Sep 2 2021 // A U.S. judge said on Wednesday he would approve OxyContin maker Purdue Pharma LP’s bankruptcy reorganization plan, clearing a path to resolve thousands of opioid lawsuits and shielding the company’s wealthy...
Japan Sees a Future in Crewless Cargo Ships as First Autonomous Trial Voyage Nears
Aug 31 2021 // In just two decades from now, half of all domestic ships plying Japan’s coastal waters may be piloting themselves. That’s the ambitious goal of the Nippon Foundation, a public-interest organization backing the...
Global Insurance M&A Drops 3% in 1st Half of 2021: Clyde & Co. Report
Aug 27 2021 // Mergers and acquisitions (M&A) in the global insurance industry dropped 3% in the first half of 2021 with 197 completed deals worldwide, down from 206 in the second half of 2020, according to Clyde & Co.’s...
Reinsurance Prices Expected to Harden at Jan. 2022 Renewals – with Less Momentum
Aug 24 2021 // Global reinsurers’ underwriting performance will continue to improve in 2022 as premium rate increases take hold, with further rate hikes expected as a result of higher catastrophe losses, continued low interest...
Rain Falls at Highest Point on Greenland’s Ice Sheet for 1st Time on Record
Aug 23 2021 // Rain fell at the highest point on the Greenland ice sheet last week for the first time on record, another worrying sign of warming for the ice sheet already melting at an increasing rate, scientists said on...
Maine Enacts Law That Will Ban Use of ‘Forever Chemicals’ in All Products by 2030
Aug 20 2021 // Maine last month enacted a law that makes it the first U.S. state to ban the use of PFAS, or per- and polyfluoroalkyl substances, in nearly all products. PFAS are commonly referred to as “forever chemicals”...
Outlooks Revised to Positive for Oklahoma’s National American Insurance
Aug 19 2021 // AM Best revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of National American Insurance Co....
Connecticut Insurance Department Releases National Survey on Climate Risk
Aug 18 2021 // Connecticut is continuing to engage with the insurance industry on climate change and its implications with its latest release of a national survey on climate risk in the insurance industry. Previously one of six states...
AM Best: Outlooks Negative for Wisconsin Reinsurance Group Members
Aug 17 2021 // AM Best revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” (Good) of Madison-based Wisconsin Reinsurance Corp....
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,...
