Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Medical Marijuana Now Legal in Alabama After Decades of Debate
May 20 2021 // Alabama Gov. Kay Ivey signed medical marijuana legislation Monday as Republican opposition to the issue faded after decades of debate. The program will allow people with a qualifying medical condition to purchase medical...
Organizations Miss Competitive Advantage by Underemphasizing Emerging Risks: Marsh
May 19 2021 // Cyber attacks, climate change, geopolitical unrest — organizations agree on what some of the emerging risks that pose threats are. But they lag in understanding just how much of a threat they can be. Despite a broad...
Digital Transformation Vital to Keeping London Market Competitive: Survey
May 17 2021 // Digital transformation is imperative to remaining competitive in the London market, according to the results of a new survey published by the International Underwriting Association (IUA). Companies identified simplifying...
Under Pressure, Ransomware Gangs Claim They’re Shutting Down
May 17 2021 // Multiple ransomware groups claimed they were shutting down or scaling back operations on Friday as the U.S. government ramped up pressure while tech companies, cryptocurrency exchanges and others worried about getting...
Insuring Cyber Podcast: Social Engineering Risks Rising, but Cyber Coverage Still Lacks
May 17 2021 // The COVID-19 pandemic has upended the work environment in many ways, and cyber experts say one unfortunate result of the switch to remote work is an increase in cyber crime, particularly around social engineering...
The Entertainment Comeback Insurance Market Ready to Respond Despite Challenging Market Conditions
May 17 2021 // The ongoing effects of the COVID-19 pandemic continue to dampen the entertainment sector, but the industry and its insurance partners are gearing up for a comeback. In the U.S., the theatrical, home/mobile entertainment...
Social Inflation and Increasing Demands Drive Hard Market for Security Industry
May 17 2021 // As insurance markets harden across most lines, many in the industry are looking at the impact of social inflation: Increased litigation, broader contract interpretations and larger jury and settlement awards are driving up...
Cryptocurrency Crime Declines But ‘DeFi’ Fraud Soars: CipherTrace
May 14 2021 // Losses from cryptocurrency theft, hacks and fraud fell sharply in the first four months of the year, but crime in the booming “decentralized finance” space hit an all-time high, a report from crypto...
Report: California Workers’ Comp Written Premium Down in 2020
May 13 2021 // Written premium for 2020 was 13% below the previous year, and was at the lowest since 2012, a new report out on Thursday shows. The Workers’ Compensation Rating Bureau of California Quarterly Experience Report, which...
Italian SPAC Aims to Target Deals in Insurance Sector
May 10 2021 // MILAN – Two known Italian business executives said on Monday they would list a 200 million euro ($243 million) special purpose acquisition company (SPAC) in Milan by the end of May to target opportunities in the...
Outlooks to Revised to Positive for Ohio’s Grange Insurance, Subsidiaries
May 7 2021 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of Columbus, Ohio-based...
U.S. Legal Cannabis Sales Hit Record $17.5B as Legislation Transforms Insurance Outlook
May 6 2021 // A new report highlights the opportunity for insurers in cannabis. New Dawn Risk launched its latest white paper on insurance for the U.S. legal cannabis, CBD and hemp markets. The 2021 report is called “Opportunity...
Midwest Economic Survey Index Soars to All-Time High
May 4 2021 // The economy in nine Midwest and Plains states is roaring back to life in the wake of a devastating global pandemic, according to a new monthly survey of business leaders and managers, with the survey’s overall index...
Texas Motorcyclist Crash Deaths Up by 17% in 2020
May 4 2021 // Despite less traffic on the road in 2020 and a 2% reduction in motorcycle crashes, there was a 17% increase in Texas motorcycle fatalities compared to 2019, state transportation officials say. The Texas Department of...
AM Best Upgrades Union Mutual Rating to Excellent with Stable Outlook
May 4 2021 // AM Best has upgraded the financial strength rating to A (excellent) from A- (excellent) and the long-term issuer credit ratings to “a” from “a-” of Union Mutual Fire Insurance Company, the lead...
S&P Forecasts Global Islamic Financial Industry Growth
May 4 2021 // The $2.2 trillion global Islamic finance industry is expected to grow 10%-12% over 2021-2022 due to increased Islamic bond issuance and a modest economic recovery in the main Islamic finance markets, S&P Global Ratings...
Insurers Expected to Expand Use of Drones to Survey Damage With Rule Change
May 3 2021 // New Federal Aviation Administration (FAA) rules are expected to clear the way for expanded commercial use of drones, which are increasingly being used by insurers to assess property damage. The updated Operations Over...
Paid Claims from Texas Winter Storm Up to $1.7 Billion
May 3 2021 // As of late March, Texas policyholders had filed 386,108 property and auto insurance claims related to the winter storm that blanketed the state in mid-February. That number reflects preliminary results from a data call...
For Some Buyers, Commercial Insurance Market Is Going to Get Better, Easier: Willis
May 3 2021 // North American buyers of commercial property/casualty insurance can expect an “ever-so-slight turn for the better” and a “less difficult marketplace” in the months ahead. However, global broker...
Rising Liability Premiums Adding Stress on Medical Practices: AMA Study
May 3 2021 // Medical liability insurance premiums have begun an upward trend after holding more or less steady during the past decade, according to a new analysis from the American Medical Association (AMA). In 2020, during the height...
