Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
State of the Cyber Insurance Market- Top Trends, Insurers and Challenges: A.M. Best
Jun 18 2019 // The cyber insurance market continues to grow and underwriting performance in this line remains strong, according to a new industry report. Direct premiums written for both standalone and packaged cyber policies grew about...
UK Business Executives Grow Increasingly Angry at Brexit Deadlock
Jun 17 2019 // There are only so many ways U.K. business chiefs can express their dismay at the Brexit deadlock engulfing the country. Frustration at politicians has morphed into outright anger in the three years since the referendum on...
Nobody Seems to Know Why Hail Storm Losses Suddenly Began Rising in 2008
Jun 17 2019 // In 2008, the year the stock market crashed and Barack Obama won the presidency, the U.S. was hit with a weather phenomenon little noted by anyone beyond the insurance industry. The country’s losses from hail breached...
Oklahoma Climatological Survey: 61 Twisters Hit the State in May
Jun 17 2019 // Of the two types of weather hazards — floods and tornadoes — that beset Oklahoma in May, flooding won out as the most widespread and damaging, according to the Oklahoma Climatological Survey (OCS). Still, at...
P/C Direct Premium Written Up 4.2% in Q1: Demotech
Jun 17 2019 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2018, total DPW for all P/C insurers aggregately increased approximately 4% from 2017, an increase...
Growth in Construction, Freight Is Good News for Inland Marine Market
Jun 17 2019 // The inland marine insurance segment has grown steadily in the past decade in tandem with increases in construction spending and the transport of goods, with direct premiums written nearly doubling to $24.5 billion in 2018...
Underwriters Get Picky: 5 Trends to Watch in Construction Insurance
Jun 17 2019 // Construction insurance specialists say their insurance market is strong with plenty of capacity and underwriters competing for the best accounts. According to specialists interviewed by Insurance Journal for their...
Commercial Insurance Prices Up Again in Q1; Auto, D&O Lead the Pack
Jun 17 2019 // Commercial insurance prices in the U.S. increased in the first quarter about 2%, according to insurance broker and advisor Willis Towers Watson. The company’s Commercial Lines Insurance Pricing Survey (CLIPS) survey...
Future Focused? Research Finds Agents Split on Succession Planning: Channel Harvest
Jun 17 2019 // Is succession planning a priority for independent agencies? How prepared are they for transition of ownership? The latest Channel Harvest Research survey, “Agent Voices 2019,” reveals nearly half of agency...
Travelers Beefing Up Wildfire Protection After 2018 California Blazes
Jun 14 2019 // Travelers Cos. is strengthening its wildfire-defense efforts after deadly blazes swept through California last year. The insurer is adding a service to all of its California home and landlord policies, helping customers...
Progressive Approved for 2.2% Auto Insurance Rate Decrease in Louisiana
Jun 13 2019 // Louisiana Insurance Commissioner Jim Donelon has approved a filing by Progressive Security Insurance Co. for a 2.2% rate decrease on new and renewal auto insurance business in the state. The decreases will take effect in...
Britain Commits to Net Zero Greenhouse Gas Emissions by 2050
Jun 13 2019 // Britain has announced it will enshrine a new commitment to reach net zero greenhouse gas emissions by 2050 into law, marking a first among G7 nations facing increasingly severe impacts from the climate crisis. With global...
AM Best Revises Outlooks to Positive for Michigan Millers Mutual Insurance
Jun 12 2019 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Michigan Millers...
Work-Related Injury Claims Rise with Numbers of Home Workers in UK: Clyde & Co.
Jun 10 2019 // With half the UK’s workforce predicted to work remotely by 2020, employers will have to take greater care of their people working at home or face an increasing number of claims for muscular-skeletal disorders (MSDs),...
U.S. Tornadoes, Hail and Winds Reach Highest Levels Since 2011: Aon Report
Jun 10 2019 // The U.S. dealt with close to 4,400 reports of tornadoes, hail and straight-line winds in May, the most since 2011, according to weather data cited by Aon’s monthly Global Catastrophe Recap report. According to the...
Agents (Still) Looking for Underwriting Sweet Spot: Channel Harvest Survey
Jun 7 2019 // Whether technology is driving a “one size fits all” underwriting approach or carriers are narrowing their strike zone, this year’s independent agency survey from Channel Harvest reveals agents continue to...
Insured Loss Estimate for European Storm Dragi-Eberhard Rises to €798M ($898.1M)
Jun 7 2019 // PERILS AG has disclosed its second loss estimate of €798 million ($898.1 million) for windstorm Dragi-Eberhard. This estimate compares to the initial loss estimate of €740 million ($832.9 million) which was issued by...
Auto, Homeowner Claims from Severe Midwest Weather Add Up for State Farm
Jun 5 2019 // State Farm said last week it had received over 6,000 homeowner claims and more than 5,000 auto claims related to severe weather that pummeled the Midwest on May 27 and 28. The company reported around 6,110 total homeowner...
Economy in Midwest Still Expanding but Survey Suggests Slowdown
Jun 4 2019 // Tariffs and flooding have slowed economic growth in nine Midwest and Plains states, according to a report on a survey of business supply managers. The Mid-America Business Conditions Index dropped to 54.3 in May from 55.9...
World’s Largest Companies Forecast Climate Change Could Cost Them $1 Trillion
Jun 4 2019 // An analysis of thousands of corporate disclosures on climate-change risks suggests that companies stand to gain more than they lose, mostly within the next five years. Some $2.1 trillion worth of potential good news is...
