Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Florida AOB Abuse Update: ‘Alarming Trend’ Reaches Crisis Point
Feb 20 2017 // Assignment of benefits abuse has escalated over the last five years to the point where it is now a serious disruption to Florida’s insurance market. The abuse, which is especially rampant in South Florida, stems from...
2017 Agency Salary Survey: Salaries and Total Compensation Up
Feb 20 2017 // Salaries for insurance agency management, owners, principals and producers were up in 2016. Total compensation for support staff also increased, although not by as much as they did the year before. That’s according...
The Future of Fraud Fighting: IoT and Telematics
Feb 20 2017 // Declining costs, the availability of cloud storage and the rise of telematics will likely increase predictive analytic adoption rates, according to Dan Donovan, assistant vice president of Claims Solutions at Verisk...
Global Insurance Rate Decreases in Q4 Slowed for 4th Consecutive Quarter: Marsh
Feb 17 2017 // Global insurance rate decreases moderated on average for the fourth consecutive quarter, down 3.1 percent (compared to the previous quarter’s decrease of 3.2 percent), according to Marsh’s Global Insurance...
Florida’s CFO Atwater to Step Down After 2017 Legislative Session
Feb 16 2017 // In a move sure to shake up Florida’s political landscape, Jeff Atwater, the state’s chief financial officer, resigned Feb. 10 to take a job at Florida Atlantic University. Atwater, a Republican from Palm Beach...
Anthem Not Giving Up on Merger with Cigna Even If Cigna Is
Feb 15 2017 // Anthem Inc. on Wednesday won a temporary restraining order that blocks smaller rival Cigna Corp. from officially terminating their proposed $54 billion merger, a transaction already rejected by U.S. antitrust...
Agency Organic Growth Slowed in 2016: Reagan
Feb 15 2017 // Organic revenue growth among insurance agencies and brokerage firms fell in 2016 to 4.2 percent– its lowest annual rate since 2011. The year ended on a positive note, however, as fourth-quarter organic growth...
Insurer & Investor Group Urges G20 to Scrap Fossil Fuel Subsidies by 2020
Feb 15 2017 // Investors and insurers with more than $2.8 trillion in assets under management on Wednesday called on the Group of 20 economies to phase out fossil fuel subsidies by 2020 despite U.S. doubts about climate change. G20...
Tennessee Captive Industry Sets Record Growth in 2016
Feb 13 2017 // Tennessee’s captive insurance market saw a record annual total of 104 risk bearing entities (RBEs) added in 2016, according to data released by the Tennessee Department of Commerce & Insurance (TDCI). The new...
Florida’s AOB Abuse by the Numbers: ‘Alarming Trend’ Reaches Crisis Point
Feb 9 2017 // Assignment of benefits abuse has escalated over the last five years to the point where it is now a serious disruption to Florida’s insurance market. The abuse, which is especially rampant in South Florida, stems from...
Red River Flooding Concerns on the Rise in Midwest
Feb 7 2017 // After several dry springs, communities are keeping a wary eye on the Red River in case it’s due for another flood. The region has been soaked with double the usual amount of winter rain, sleet and snow this winter,...
Vermont to See Decrease in Costs for Workers’ Compensation Insurance
Feb 7 2017 // Vermont Governor Phil Scott has announced that workers’ compensation insurance will cost less for most Vermont employers when new rates approved by the Vermont Department of Financial Regulation (DFR) become...
58% of UK Business Leaders Say Brexit Vote Has Taken a Toll: Survey
Feb 7 2017 // More than half of British business leaders believe the vote to leave the European Union has had a negative impact on their companies but most firms are confident they can survive the change, according to a survey on...
Amica Mutual Downgraded by A.M. Best Citing Increasing Catastrophe Losses, Auto Claims
Feb 6 2017 // Amica Mutual Insurance Co. no longer has a perfect financial strength rating from A.M. Best. More catastrophe losses and worsening automobile insurance claims severity are both to blame. Specifically, an A+ (Superior)...
New Electronic System Could Increase Costs for Vermont Car Inspections
Feb 6 2017 // The costs of motor vehicle safety inspections could go up in Vermont as inspection stations start using a new electronic system. The safety requirements for vehicles will remain the same, but it’s thought some...
North Carolina Auto Rates Going Up? Rate Bureau Files for 13.8% Rate Increase
Feb 6 2017 // The North Carolina Rate Bureau (NCRB) is requesting an average increase of 13.8 percent on private passenger automobile insurance rates in its latest filing with the North Carolina Department of Insurance (NCDOI). NCRB...
Wells Fargo Market Outlook Offers Favorable News for Cyber Security
Feb 6 2017 // San Francisco, Calif.-based Wells Fargo Insurance released its 2017 Insurance Market Outlook and Employee Benefits Outlook report in late January, which shows this year’s property/casualty insurance market will again...
Opioid Doses in Ohio Declined Again in 2016
Feb 6 2017 // The number of opioid doses dispensed to Ohio patients decreased again last year, making 2016 the fourth year in a row that the number has dropped. A recent report from the State Board of Pharmacy’s Ohio Automated Rx...
Study: Fatal Wrecks in Alabama Increase 25% in 2016
Feb 6 2017 // Researchers say the number of fatal traffic crashes in Alabama increased by nearly 25 percent last year. Citing a recent University of Alabama study, The Tuscaloosa News reports that 1,058 people died in crashes statewide...
S&P: P/C Insurers Could See Potholes in 2017 as Earnings Outlook ‘Isn’t Too Pretty’
Feb 6 2017 // This year will be a turning point for the U.S. property/casualty (P/C) insurance sector, as rising claims outpace pricing and reserve releases materially decrease. But it will not be a “softer for longer” rate...
