Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
New Group Launched for Senior Claims Managers in London Insurance Market
Dec 22 2020 // A new group for senior claims managers in the London insurance market has been established by the International Underwriting Association (IUA). The Claims Strategy Committee will oversee and coordinate all claims-related...
Louisiana Private Employer Work Injuries, Illnesses Down Slightly in 2019
Dec 21 2020 // Recent Bureau of Labor Statistics (BLS) data show the incidence rate of work-related injuries and illnesses among Louisiana’s private sector employers was 1.7 incidents per 100 full-time equivalent (FTE) workers in...
Files Raise Questions About Purdue Pharma Family’s Transfer of $10B Over Decade
Dec 21 2020 // Members of the wealthy Sackler family, owners of OxyContin maker Purdue Pharma LP, have long denied that the $10 billion they transferred from their company over the course of a decade was an unlawful attempt to shield...
Outlooks Revised to Negative for Iowa’s United Fire Group, Property/Casualty Subs
Dec 21 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the property/casualty...
U.S. Commercial Insurance Rates Rise Again Q3; Showing Signs of Stability
Dec 21 2020 // For the second quarter in a row, U.S. commercial lines insurers enjoyed average rate hikes that neared 10% but the rocket ship rate hike trend might be moderating. “While commercial insurance prices continued to rise...
COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best
Dec 21 2020 // U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised its outlook for the...
Record Return of Merger Activity Leads to Massive Growth in M&A Insurance Market
Dec 21 2020 // A record rebound in merger activity this year and a rise in litigation has brought with it an upsurge in insurance policies that give companies and private equity firms cover for when a deal goes wrong, industry officials...
The Gig Economy’s Auto Insurance Market and Surplus Lines
Dec 21 2020 // Automobile insurance looks very different today than it did a generation ago. The means by which people (and goods) travel via motor vehicles continue to expand and evolve, as do businesses and their automobile insurance...
California Workers’ Comp Written Premium Down 12% over 9 Months of 2020
Dec 18 2020 // Workers’ compensation written premium in California for the first nine months of 2020 was 12% below that for the first nine months of 2019, according to a quarterly experience report released on Friday by the...
Willis Towers Watson Partners with Polecat Intelligence on Emerging Risk Analysis
Dec 18 2020 // Willis Towers Watson, the global advisory, broking and solutions company, announced a partnership with Polecat Intelligence Ltd,, a business intelligence and data analytics company. Together, they are developing insurance...
Citizens to Delay Rate Increases, For Now
Dec 17 2020 // Citing a flood of new policies entering Citizens Property Insurance Corp. and a growing disparity between its rates and rising rates of private insurance companies, the board of Florida’s insurer of last resort voted...
Impact of Coronavirus on U.S. Economy Could Be $3-$5 Trillion Over 2 Years: USC Study
Dec 14 2020 // The COVID-19 pandemic could result in net losses from $3.2 trillion and up to $4.8 trillion in U.S. real gross domestic product (GDP) over the course of two years, a new University of Southern California (USC) study...
Outlooks Revised to Negative for Members of Chicago’s ISMIE Mutual Group
Dec 11 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Chicago-based ISMIE Mutual Insurance Co....
Record Return of Merger Activity Leads to Massive Growth in M&A Insurance Market
Dec 11 2020 // LONDON – A record rebound in merger activity this year and a rise in litigation has brought with it an upsurge in insurance policies that give companies and private equity firms cover for when a deal goes wrong, industry...
COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best
Dec 11 2020 // U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised its outlook for the...
28% of Michigan Small-to Mid-Sized Business Leaders Satisfied with Economy: Survey
Dec 9 2020 // A survey funded by the by Accident Fund Insurance Company of America and the Michigan Business Network shows that most leaders of small-to mid-sized businesses in the state continue to be wary about the economy. The latest...
Florida Approves 6.6% Rate Decrease to Workers’ Comp Rates
Dec 9 2020 // Florida Insurance Commissioner David Altmaier has issued a final order approving the National Council on Compensation Insurance (NCCI)’s filing for a statewide overall decrease of 6.6% for Florida workers’...
U.S. Commercial Insurance Rates Rise Again in Q3 But Show Signs of Stabilizing
Dec 8 2020 // For the second quarter in a row, U.S. commercial lines insurers enjoyed average rate hikes that neared 10 percent but the rocket ship rate hike trend might be moderating “While commercial insurance prices continued...
Global Reinsurance Sector Receives ‘Stable’ Market Outlook as Rates Keep Hardening
Dec 8 2020 // The outlook of the global reinsurance sector is “stable,” which is mainly a reflection of hardening pricing conditions and tighter terms and conditions, according to AM Best and Fitch Ratings in two reports. AM...
Canada Must Address Rising Costs of Natural Disasters, Says Research Group
Dec 8 2020 // Canada should accelerate measures, including financing mechanisms, to help governments, companies and individuals prepare for the rising costs of weather-related disasters, according to a research institute. The cost of...
