Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
GEICO Drives Up Berkshire 2020 Underwriting Profit
Mar 1 2021 // With GEICO’s 2020 underwriting profit more than doubling above the level recorded in 2019, Berkshire Hathaway’s full-year property/casualty underwriting income was in the black, even though the...
Court Up’holds’ Insurers’ Denial of $6M Crime Claim for Phishing Loss
Mar 1 2021 // Real estate software maker RealPage has been denied a $6 million computer crime insurance coverage claim because the stolen funds were not in its possession but were instead being held by a payment processing firm at the...
UK Insurer Aviva Plans to Become Net-Zero Carbon Emissions Company by 2040
Mar 1 2021 // British insurer Aviva plans to become a net zero carbon emissions company by 2040, it said on Monday, claiming this was the most demanding target set by any major insurer worldwide. Following the 2015 Paris Agreement on...
D&O-Focused MGA, Rising Edge, to Launch in 1st Half
Feb 26 2021 // Rising Edge, a London-based managing general agent (MGA), writing directors’ and officers’ (D&O) insurance, is set to launch in the first half of 2021. The new company will be led by Chief Executive Officer...
EU Seeks More Protection from Climate Risks by Increasing Resilience, Insurance Cover
Feb 26 2021 // The European Union is bolstering its 14-trillion-euro ($17 trillion) economy against damage caused by the impacts of climate change, from droughts to floods and forest loss. Under an updated climate adaptation strategy...
Florida Legislature Weighs Options to Address Rising Homeowners Insurance Costs
Feb 24 2021 // Three bills currently working their way through the Florida Legislature are designed to tackle the rising costs of homeowner roof claims, the costs of attorney fees in homeowner’s claims and issues surrounding notice...
Larry Goanos’ New Book ‘Professional Lines Insurance: An Oral History’ Accounts the Real-World Workings of the Professional Lines Insurance Market
Feb 23 2021 // San Diego, CA (February 23, 2021) – Insurance Journal’s Academy of Insurance today announced the release of “Professional Lines Insurance: An Oral History: The People and Companies that Built a...
California Lawmakers Introduce Proposal to Ban Fracking by 2027
Feb 23 2021 // New legislation would ban all fracking in California by 2027, taking aim at the powerful oil and gas industry in the state already planning to ban the sale of new gas-powered cars by 2035. Progressive California has long...
Lloyd’s Survey Results Show More Inclusive Culture, but Improvement Still Needed
Feb 23 2021 // Lloyd’s has made notable progress in its push to become more inclusive, according to its 2020 culture survey, but it still has plenty of room for improvement—especially when it comes to the experiences of Black and...
Federal Flood Insurance Premiums Far From Keeping Up With Expected Losses
Feb 22 2021 // If the nearly 4.3 million residential homes (1-4 units) across the country with substantial flood risk were to be insured through the National Flood Insurance Program (NFIP), the NFIP rates would need to increase 4.5 times...
Drought Could Increase Fire Threat in Wyoming, Officials Say
Feb 22 2021 // Meteorologists in Wyoming have warned that low levels of precipitation across the state could increase the threat of wildfires over the summer. Tim Troutman, a meteorologist at the National Weather Service office in...
Most Small Businesses Lost Sales Due to Pandemic: Fed Survey
Feb 22 2021 // The vast majority of U.S. small businesses took a hit to their revenue last year because of the coronavirus pandemic, with minority-owned businesses struggling the most and worrying more about accessing credit, according...
Industry Trends to Exploit for 2021
Feb 22 2021 // The insurance industry is so intertwined with the economy and society. Any noticeable change in either will have impacts on the insurance industry. There is nothing like what has occurred with COVID-19, and there is no...
Agency Salary Survey: Satisfaction Rises, Compensation Falls, Agencies Kept Employees Happy Through Disruption
Feb 22 2021 // Independent insurance agencies not only managed to survive through the 2020 economic downturn and pandemic, but also managed to keep their employees happy through all of the year’s disruption. In Insurance...
AM Best Upgrades E&S Outlook; Praises Resiliency, Clear Terms Amid Pandemic
Feb 19 2021 // A.M. Best has upgraded its outlook for the U.S. excess & surplus lines insurance sector citing its resiliency in the face of pandemic challenges. A.M. Best revised its outlook for U.S. E&S to Stable from...
Allianz’ 2020 Operating Profit Drops 9.3% in First Decline Since 2011
Feb 19 2021 // FRANKFURT – German insurer Allianz posted its first fall in annual operating profit in nearly a decade on Friday on higher claims from businesses hit by lockdowns and lower demand for car and travel insurance. Operating...
AIG Hikes Rates Up to 45%; Reports Interest in Life/Retirement Unit Sale
Feb 18 2021 // American International Group Inc. said on Wednesday it is hiking some commercial insurance rates by as much as 45%, a trend it sees persisting in 2021, as the company prepares to install Peter Zaffino as its new chief...
Palomar Teams Up with Austin’s Technical Risk Underwriters on Builder’s Risk
Feb 18 2021 // Palomar Holdings Inc., a specialty property insurance headquartered in La Jolla, Calif., has forged an agreement with Technical Risk Underwriters (TRU), an Austin, Texas-based subsidiary of Ryan Specialty Group LLC (RSG),...
Future of the Insurance Industry and Who Owns It: 3 Scenarios From Verisk’s Anquillare
Feb 17 2021 // The question is not whether the future of the insurance industry is bright. “Few industries are better positioned for outstanding growth over the next 15 years,” insists Verisk’s Mark...
Internet of Things Devices Increase Risk of Cyber Attacks on Industrial Sector: Lloyd’s
Feb 17 2021 // Internet of Things (IoT) devices are increasing the risk of cyber attacks to industrial and manufacturing businesses, according to a report published by Lloyd’s in partnership with cyber analytics specialist...
