Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
Florida Legislature Passes Major Changes to Auto, Property Insurance Markets
Apr 30 2021 // Florida lawmakers passed two bills on the last day of their 2021 legislative session that make major changes to the state’s auto and property insurance markets. The actions follow weeks of back-and-forth debate on...
Lack of Travel Has Harmed Business Relations, Chubb Survey Finds
Apr 30 2021 // Business travelers are eager to travel again for work and life, but most remain concerned at the same time about contracting COVID-19 and favor extra precautions. They are also concerned that their lack of travel has hurt...
Louisiana 2020 Hurricane Insured Claim Costs Still Rising
Apr 30 2021 // Insurers have increased by 25% since the end of last year estimates of the claims costs for three hurricanes that struck Louisiana in 2020, according to the state insurance department. The Louisiana Department of Insurance...
Texas Q1 Surplus Lines Premium Up 20% Over 2020, Stamping Office Says
Apr 29 2021 // The Surplus Lines Stamping Office of Texas (SLTX) reported that the state has seen record-breaking premiums in the first quarter of 2021, with a total of $2 billion in premium representing a 20.1% increase over the same...
Pain, Loss Linger A Decade After Tornadoes Hammered 6 States Across South
Apr 28 2021 // For Tom Sanders, it’s the void left by the death of a cousin and the man’s wife, killed when a tornado mowed through a placid Alabama valley. To Markedia Wells, it’s the stolen innocence of her sons, who...
Insuring Cyber Podcast: Social Engineering Risks Rising, but Cyber Coverage Still Lacks
Apr 28 2021 // Powered by InsuranceJournal.tv 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...
Supreme Court Smacks Down Pro Wrestlers’ Appeals on Head Injury Claims
Apr 27 2021 // The U.S. Supreme Court on Monday declined to hear the appeals of several former pro wrestlers who claimed in lawsuits that World Wrestling Entertainment failed to protect them from repeated head injuries that led to...
Roadway Work Zone Fatalities Increased by 9% in Texas in 2020
Apr 27 2021 // The number of Texas work zone fatalities increased by 9% in 2020 compared to 2019, according to state transportation officials. Drivers and their passengers account for the majority of those who have died in work zone...
