Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
PG&E Shares Dive on Risk of up to $18B in Wildfire Lawsuit Costs
Aug 19 2019 // PG&E Corp. shares plunged Monday after a judge ruled that a jury can determine whether it should pay as much as $18 billion in damages to wildfire victims. The California utility giant fell as much 28%, to $10.22, at...
Underwriters Get Picky and Other Trends in Construction Insurance
Aug 19 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...
AI-Underwritten Insurance Premiums to Go From $1.3B to $20B Globally by 2024: Juniper
Aug 19 2019 // The value of global insurance premiums underwritten by artificial intelligence will exceed $20 billion by 2024, up from an estimated $1.3 billion in 2019, according to new data from Juniper Research. This growth will be...
Flooded Mississippi River Still a Threat as Hurricane Season Heats Up
Aug 19 2019 // The river that drains much of the flood-soaked United States is still running far higher than normal, menacing New Orleans in multiple ways just as the hurricane season intensifies. For months now, a massive volume of...
Texas Auto Burglary/Theft Prevention Fee Rises
Aug 19 2019 // The Texas Department of Insurance says recently passed legislation raises the fee insurers must pay to the state organization that works to prevent automobile burglaries and thefts. A new law also changes Automobile...
Insurance Driving Up Total Cost of Risk for Businesses
Aug 19 2019 // Businesses and organizations paid nearly two percent more in 2018 than they did in 2017 to cover the total cost of risk. Reversing the trend of falling average TCOR per $1,000 of revenue seen from 2013 to 2017, average...
Age Discrimination Among Older U.S. Workers an Increasingly Serious Concern, Insurer Says
Aug 19 2019 // Age discrimination affects more than one-fifth of U.S. workers over the age of 40, a particular number of which are men, according to a survey from specialty insurer, which warns companies to be mindful of the related...
NOAA Ups Hurricane Forecast as El Nino Fades Away
Aug 19 2019 // Forecasters with the National Oceanic and Atmospheric Administration who are monitoring oceanic and atmospheric patterns say with the demise of El Nino this summer, conditions are now more favorable for above-normal named...
Women Accuse Opera Star Domingo of Sexual Harassment Over Decades
Aug 16 2019 // For decades, Placido Domingo, one of the most celebrated and powerful men in opera, has tried to pressure women into sexual relationships by dangling jobs and then sometimes punishing the women professionally when they...
Bicycle Thefts Rise to 5-Year High in Minneapolis
Aug 15 2019 // Minneapolis, Minnesota, police say bicycle theft in the city is at a five-year high. Police department data obtained by the Star Tribune shows almost 4,300 bikes reported stolen since 2017. The rash of thefts frustrates...
Nation’s Excess & Surplus Market Reports 13% Growth Through Midyear
Aug 14 2019 // Source: Texas Surplus Lines Stamping Office The nation’s excess and surplus lines insurance industry is growing almost 13 percent faster halfway through this year than it did last year at this time. Mid-year premium...
Many Reinsurers Take Increased Catastrophe Risks as Rates Harden: S&P
Aug 14 2019 // Some global reinsurers have chosen to stop retrenching from catastrophe risks, deciding instead to take advantage of higher premium rates and increase their exposure, according to S&P Global Ratings. Although risk...
With Smarter, Joined-Up Pricing, There’s No Such Thing as a Bad Risk: Viewpoint
Aug 14 2019 // It’s a well-trodden truth in our industry that not all risks are created equal, and for insurers, that some risks are riskier than others. However, new technologies mean new avenues of innovation for insurers to...
AM Best Revises Outlooks to Stable for Georgia Farm Bureau Group Members
Aug 13 2019 // AM Besthas revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Ratings of “bbb-” of Georgia Farm Bureau Mutual Insurance Co. and...
Property Loss Estimate for Australia’s Townsville Floods Rises to A$1.22B: PERILS
Aug 12 2019 // The property insurance market loss from the Australia’s Townsville floods, which affected northern Queensland, Australia, between Jan. 26 and Feb. 10, 2019, has risen to A$1.22 billion (US$827.1 million), according...
UK’s Aviva Reports 1% Rise in 1st Half Operating Profit, Reviews Asia Business
Aug 8 2019 // Britain’s second largest insurer Aviva reported a forecast-beating 1% rise in first-half operating profit on Thursday, helped by a strong performance in its general business and announced a review of its Asian...
Munich Re Reports 36% Rise in Q2 Net Profit on Lower Claims from Major Losses
Aug 7 2019 // German reinsurer Munich Re on Wednesday reported a 36% rise in net profit in the second quarter, helped by low claims from major losses, and stuck to its forecast for 2019. Net profit was 993 million euros ($1.11 billion),...
AIR Tracks Growth of Coastal Exposures Over Past Decade
Aug 6 2019 // The value of coastal exposures along the Atlantic and Gulf coasts have experienced a compound annual growth rate of about 4% over the past decade, according to catastrophe risk modeling firm AIR Worldwide. AIR released its...
Outlooks Revised to Positive for Minnesota Lawyers Mutual, MLM Risk Retention Group
Aug 2 2019 // 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 Rating of “a-” of Minnesota Lawyers Mutual Insurance Co.,...
While Ships in Persian Gulf Turn Off Transponders to Avoid Seizure, Collision Risks Rise
Aug 2 2019 // Following weeks of mounting tensions in the Persian Gulf where vessels have been attacked and an oil tanker has been seized, recent news reports reveal that shipowners are trying minimize risk – by turning off their...
