Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Texas FAIR Plan Rate Increase Filings Approved
Apr 26 2021 // The Texas Department of Insurance (TDI) has approved the FAIR Plan’s rate changes. The changes resulted in overall statewide average rate increases for homeowners, dwelling, condominium and renters policies. On Jan....
Report: 2020 A Record Year for Overdose Deaths in West Virginia
Apr 26 2021 // The number of fatal drug overdoses in West Virginia hit a record last year, according to preliminary state data showing at least 1,275 residents died. The increase comes after two years of declining numbers in a state...
California Governor Wants Ban on New Fracking by 2024
Apr 26 2021 // Gov. Gavin Newsom said said California will stop issuing fracking permits by 2024 and halt all oil drilling by 2045, using his authority to take on the state’s powerful oil and gas industry in a year he will likely...
Cyber Attacks and Data Loss Are Top 2 Risks Facing Directors & Officers: WTW Survey
Apr 23 2021 // Cyber attacks and data loss are the top two risks facing directors & officers, with pandemic-related changes in working practices heightening these concerns, according to a global survey from broker Willis Towers...
For Some Buyers, Commercial Insurance Market Is Going to Get Better, Easier: Willis
Apr 23 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...
Up to 40% of Losses from Frost Damage at French Vineyards Are Uninsured
Apr 23 2021 // PARIS – Frost damage to French vineyards this month could reduce wine production by nearly a third compared with recent years, farm office FranceAgriMer said on Thursday, citing initial estimates from wine producers. The...
AM Best Revises Outlooks to Positive for Convex Group’s Subsidiaries
Apr 23 2021 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Convex Insurance UK Ltd. and Convex Re...
Climate Change Could Cut Global GDP by 18% by 2050 – If Nothing Is Done: Swiss Re
Apr 22 2021 // If nothing is done to combat climate change, global temperatures could rise by 3.2°C within the next 30 years, shrinking the world economy by 18%, according to new research from Swiss Re, which was rolled out on Earth...
Insurers Prefer Private Equity Investments over Hedge Funds: Survey
Apr 22 2021 // LONDON — Insurers want to put more money into private equity this year while scaling back on hedge funds, a survey by Goldman Sachs Asset Management showed on Wednesday. Private equity was the most-favored asset...
Goldman Survey: Insurers Favoring Private Equity Over Hedge Funds
Apr 22 2021 // Insurers want to put more money into private equity this year while scaling back on hedge funds, a survey by Goldman Sachs Asset Management showed on Wednesday. Private equity was the most-favored asset class for insurers...
Appalachian Underwriters Expands into Life Insurance Market with Fintech Ethos
Apr 21 2021 // Appalachian Underwriters, Inc. (AUI) has partnered with life insurance provider Ethos to offer the coverage via the fintech’s online platform. Agents can now quote customers’ life insurance without medical...
Lemonade Revving Up to Enter Car Insurance Market
Apr 20 2021 // Lemonade, the insurance company that uses artificial intelligence and behavioral economics, plans to add car insurance to its current renters, homeowners, pet and life insurance offerings in the U.S. The insurtech...
UK Car Insurance Premiums Drop to Lowest Level Since 2015: WTW Survey
Apr 20 2021 // The cost of a comprehensive car insurance policy in Britain slumped 14% in the first quarter of 2021, to their lowest level since 2015, as different phases of lockdowns in the country kept motorists off the streets, a...
With Claims Rising, Cyber Insurers Need More Than Sizable Rate Increases: Fitch
Apr 20 2021 // Cyber insurance underwriters are reporting substantially higher claims losses in 2020 than in prior years and as a result face increasing profit pressure. insurers will have to achieve both significant premium rate...
North Carolina Dwelling Rates to Increase by 7.6%; Mobile Home Request in Dispute
Apr 19 2021 // The North Carolina Department of Insurance has ended its legal dispute with the North Carolina Rate Bureau on its proposed 18.7% dwelling insurance rate increase, averting a potentially costly administrative battle with...
SCOR Reports 4.3% Increase in Reinsurance Prices During April Renewals
Apr 19 2021 // French reinsurer SCOR said it benefited strongly from continued improvements in pricing and terms and conditions, during the April 1, 2021 reinsurance renewals – a continuation of trends already seen during the January...
Fearlessness Forecasts Success
Apr 19 2021 // Recently I had a conversation with a well-known author and sales coach of high performers in which we discussed critical characteristics of successful commercial lines producers. One stood out to me. This consummate coach...
What Young Agents Think Survey: Optimism High Among Young Agent Leaders
Apr 19 2021 // Despite ongoing concerns over the pandemic, young agents say they felt supported by their agencies over the past year. A majority of young agents felt satisfied with how their agency responded to COVID-19 and rated their...
Deaths in Vehicle Crashes Up 38% in South Dakota in 2020
Apr 16 2021 // The number of traffic crash fatalities in South Dakota rose to 141 last year — an increase of 38% over the previous year. The South Dakota Department of Public Safety said in 2020, there were 132 crashes in which the...
‘Insure Our Future’ Pressures Lloyd’s to ‘Immediately Stop’ Insuring Fossil Fuel Projects
Apr 15 2021 // Insure our Future, the anti-fossil-fuel campaign group, is pressuring Lloyd’s to immediately stop insuring coal and new oil and gas projects that exacerbate climate change. The group has launched a website, which is...
