Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Florida Property Insurance Market Inches Closer to Crisis – Part 1
Oct 29 2020 // After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from...
Hanover Insurance Enters Maryland Personal Lines Insurance Market
Oct 27 2020 // The Hanover Insurance Group Inc. (THG) has expanded its business in Maryland to include personal lines insurance and appointed a group of independent agents in the state to serve its growing customer base. The Hanover has...
W.R. Berkley Says Rate Increases Averaging 14.5% Contributed to Solid 3Q Results
Oct 26 2020 // W.R. Berkley Corp.’s 2020 third-quarter financial results landed on the strong side despite a dip in net income and more COVID-19 losses, a result the company credits to rate hikes and underwriting discipline. The...
Remote Workforce to Double in 2021 Due to Improved Productivity: CIO Survey
Oct 26 2020 // The percentage of workers around the world that is permanently working from home is expected to double in 2021 as productivity has increased during the coronavirus pandemic, according to a survey from U.S.-based Enterprise...
More Companies Turn to Captives as Rates Rise, Terms & Conditions Tighten
Oct 26 2020 // Fed up with rising prices and more stringent terms and conditions for their insurance policies as a result of the coronavirus pandemic, companies are turning to in-house insurance firms. These so-called...
Auto Insurance Claims Satisfaction Continued to Rise During Pandemic
Oct 22 2020 // Having fewer auto insurance claims during the coronavirus pandemic appears to have given insurers time to refine their customer experience and deliver higher higher quality claims service. According to the J.D. Power 2020...
1 in 4 Businesses Has Experienced Cyber Event, Travelers Survey Finds
Oct 22 2020 // Nearly one in four respondents (22%) out of more than 1,200 business leaders surveyed in 2020 Travelers’ Cyber Risk Index said their firm was the victim of a cyber event – the highest percentage since the annual...
Nearly 50% of UK Firms Less Prepared for Brexit Because of Coronavirus: Survey
Oct 21 2020 // About half of UK firms are less prepared for Brexit compared to last year due to the impact of the coronavirus pandemic, a sign of Britain’s vulnerability to disruption when it quits the European Union’s single...
COVID-19 Crisis Accelerates Labor Shift from Humans to Robots: WEF Survey
Oct 21 2020 // Robots will destroy 85 million jobs at mid-sized to large businesses over the next five years as the COVID-19 pandemic accelerates changes in the workplace likely to exaggerate inequalities, a World Economic Forum (WEF)...
Survey Finds 78% of Risk Managers Now Buying Cyber Insurance
Oct 20 2020 // The tenth year of the Zurich North America and Advisen Cyber Survey reveals that 78% of risk managers now purchase some level of cyber insurance — compared to only 34% in 2011. Of this record of 78% with some cyber...
Report: Cost of Damage from August Midwest Windstorm Up to $7.5B
Oct 20 2020 // Damage estimates from a rare windstorm that slammed Iowa and some other parts of the Midwest in August are growing, with the total now at $7.5 billion, according to a new report. The Aug. 10 storm hit Iowa hard but also...
California Workers’ Comp Premium for First Two Quarters of 2020 Down 11%
Oct 19 2020 // Written workers’ compensation premium in California for the first two quarters of 2020 was 11% below that for the first two quarters of 2019, according to a new report out. The Worker’s Compensation Insurance...
Malpractice Claims Against Hospitals Hold Steady But Severity Increases
Oct 16 2020 // The frequency of hospital professional liability claims is holding steady, but the cost of those claims is expected to increase by 3% next year, according to an actuarial analysis by Aon and the American Society of Health...
Catastrophe Risk Experts Estimate Up to $3B in U.S. Insured Losses from Delta
Oct 15 2020 // Two catastrophe risk and property data providers have estimated U.S. onshore insured losses from Hurricane Delta will come in at between $0.7 billion and $3 billion. Global property information, analytics and data provider...
Future Unsure for Many After Louisiana’s Back-to-Back Hurricanes
Oct 14 2020 // Michele Vincent’s home was largely intact in spite of hurricanes Laura and Delta. But tears streamed down her face as she looked at her church’s broken windows and shattered pews. “It’s hard to come...
Nearly 9 of 10 Workers Want to Maintain Option to Work from Home: Survey
Oct 14 2020 // LONDON — Nearly nine out of 10 workers want to be able to choose whether to work from home or the office once COVID-19 workplace restrictions ease, and have greater autonomy over their hours, according to research...
New Jersey Urges Vigilance as Data Breaches, Online Threats Rise During Pandemic
Oct 12 2020 // As October’s National Cybersecurity Awareness Month is underway, New Jersey Attorney General Gurbir S. Grewal warned residents of the state that data breaches, internet fraud and online threats are on the rise. With...
Iowa’s Derecho Crop Losses Increase by More Than 50%, Report Shows
Oct 12 2020 // A new report shows that crop loss estimates from a rare windstorm that slammed Iowa in August have increased by more than 50%. The U.S. Department of Agriculture said on Oct. 9 that the number of crop acres that Iowa...
AccuRisk’s Share of Texas Non-Subscriber Market to Grow with Acquisition
Oct 12 2020 // Chicago-based managing general underwriter, AccuRisk Solutions LLC, is set to acquire the renewal rights to Great American Insurance Group’s book of Texas occupational illness and injury non-subscription...
UK Financial Services Firms Become More Optimistic, Says Business Survey
Oct 9 2020 // Financial services firms in Britain turned more optimistic for the first time this year as a drop in business bottomed out, but big uncertainties remained about COVID-19 and a post-Brexit trade deal, according to a survey...
