Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
North Carolina Insurance Fraud Round-Up: May
Jun 21 2019 // The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of May 2019. Insurance fraud costs American consumers approximately $80 billion a year. According to North Carolina...
Lloyd’s Gathers Group of Industry Heavy-Hitters as Advisers for Its Future Strategy
Jun 20 2019 // Lloyd’s has gathered a group of industry heavy-hitters — such as Evan Greenberg at Chubb, Dan Glaser at Marsh & McLennan, and John Haley at Willis Towers Watson — to sit on advisory committees that...
Insured Property Losses for December 2018 Sydney Hailstorms Rise to A$766M: PERILS
Jun 20 2019 // Insured losses for the hailstorms, which hit the greater Sydney region on Dec. 20, 2018, have risen to A$766 million (US$526.6 million), according to PERILS, in its third loss estimate for the storms. PERILS, the...
Florida’s Citizens Revises 2019 Rate Filing; Will Request 2.3% Statewide Rate Increase
Jun 20 2019 // Citizens Property Insurance Corporation’s Board of Governors has approved a revised 2019 rate proposal that the company said reflects recent legislative changes that targets the ongoing abuse of assignment of benefit...
The Lowdown: 2019 Private Flood Insurance Report
Jun 19 2019 // The big day is coming! I suspect by now, you’ve heard a great deal about the implementation of provisions of the Biggert-Waters Flood Insurance Reform Act of 2012, requiring regulated institutions to accept certain...
Greenhouse Gas Emissions Must Be Halved by 2030 to Avoid 3C Warming: Scientists
Jun 19 2019 // Emissions need to be halved by 2030 to limit warming to 1.5 degrees Celsius but temperatures are on track to reach double that by the end of the century even if countries’ current plans are fully implemented,...
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),...
