Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Ohio AG: Identity Theft Complaints in Ohio Up over 2014
Dec 18 2015 // Identity theft complaints in Ohio have already surpassed the number received last year by about 300, according to the state attorney general’s office. Kate Hanson, a spokeswoman for Attorney General Mike DeWine, said...
Fitch: Overall P/C Reserves Adequate; Prior Years’ Favorable Trend Continues
Dec 18 2015 // Property/casualty insurers continued to take down loss reserves for prior years in 2014, which marked the ninth straight calendar year of favorable development for the industry in aggregate, according to a new report from...
Pennsylvania Compensation Rating Bureau Seeks 0.9% Loss Cost Decrease
Dec 17 2015 // The Pennsylvania Compensation Rating Bureau (PCRB) has submitted a filing of Pennsylvania loss costs and related rating values with a proposed effective date of April 1, 2016. The filing proposes an overall average loss...
Fitch’s Sector Outlook for UK Non-Life: Stable – French Non-Life: Negative
Dec 17 2015 // Fitch Ratings has issued reports on both the UK and the French non-life insurance sectors. The UK report indicates that “operating conditions within the UK non-life company market are expected to remain stable in...
Survey Concludes Europe’s Regulators ‘Gold-Plating’ New Insurer Capital Rules
Dec 15 2015 // Domestic regulators are increasingly “gold-plating” new European insurance capital rules by adding their own more stringent requirements, according to a survey of insurance trade associations. Two-thirds of...
Report: Southeast States Unprepared for Future Risks from Climate Change
Dec 11 2015 // Source: States at Risk Many states across the country, particularly in the Southeast, are unprepared to face the risks posed from extreme heat, drought, wildfires, inland flooding, coastal flooding and other extreme...
Business Interruption Claims on the Rise: Allianz
Dec 10 2015 // The average large business interruption (BI) property insurance claim is now in excess of $2.4 million, 36 percent higher than the corresponding average property damage claim of just over $1.7 million, according to a...
Survey: Prescription Drug Abuse Affecting Indiana Companies
Dec 8 2015 // The majority of Indiana companies that responded to a survey tied to the state’s growing woes with prescription medication abuse say their businesses are being affected by workplace abuse or misuse of those drugs,...
Texas State Fire Marshal Report: Fire Occurred Every 7 Minutes in 2014
Dec 8 2015 // In 2014, 957 fire departments in Texas reported 72,124 fires, with a fire occurring every seven minutes, 163 civilian fire deaths, 780 civilian fire injuries and $662,625,954 in property, according to a report from the...
Growth in Cyber Insurance Sustainable if Underwriting, Pricing Are Right
Dec 7 2015 // Given the fact that the insurance industry paid out more than $400 million in highly publicized cyber liability insurance claims in 2014 alone, one might think that insurers would be shying away from the line. But one...
Spring Storms Rack Up More than $1.5B in Losses in Texas
Dec 7 2015 // Storms during April and May in Texas caused more than $1.5 billion in property losses, according to the Insurance Council of Texas. ICT spokesman Mark Hanna says paid residential property losses in April and May were close...
Florida Issues Final Order for NCCI to Decrease Workers’ Comp Rates by 4.7%
Dec 7 2015 // The Florida Office of Insurance Regulation (OIR) has approved an overall decrease of 4.7 percent in workers’ compensation insurance rates in Florida. Following the disapproval of its original rate filing request, the...
Report: Southeast States Not Prepared for Future Risks from Climate Change
Dec 7 2015 // Many states across the country, particularly in the Southeast, are unprepared to face the risks posed from extreme heat, drought, wildfires, inland flooding, coastal flooding and other extreme weather events, according to...
Cyber Insurance Rates Up, Unlike Other Commercial Rates
Dec 3 2015 // Cyber insurance stood out in the third quarter as the only line for which insurers saw consistent and large rate increases, which averaged more than 15 percent in the United States, according to the latest analysis from...
Workers’ Comp Rates in Washington to Increase 2% In 2016
Dec 2 2015 // The average base rate Washington businesses pay for workers’ compensation insurance will increase by 2 percent in 2016, the state Department of Labor & Industries announced. L&I uses wage inflation as a...
ACE Announces Future Leadership Team for Global Surety Business Unit
Dec 2 2015 // ACE Ltd. announced the leadership team it has appointed for the company’s Global Surety business unit, which will take effect upon completion of the acquisition of Chubb, expected in the first quarter of 2016. As...
Why Wage and Hour Claims Keep Rising
Dec 2 2015 // This was another historic year for federal wage and hour lawsuits. Using data obtained from the Federal Judicial Center, law firm Seyfarth Shaw LLP reported that 8,781 cases were filed in 2015 under the Fair Labor...
Lloyd’s Syndicates Join Forces to Help Emerging Markets Build Nat Cat Resilience
Nov 30 2015 // Eight Lloyd’s syndicates are joining forces to develop new solutions to help developing economies tackle underinsurance and improve their resilience against the economic impact of natural catastrophes. Emerging...
Virginia Approves 3.4% Overall Increase in Workers’ Comp Loss Costs
Nov 25 2015 // The Virginia State Corporation Commission (SCC) announced Tuesday the approval of revisions to the premium levels charged for workers’ compensation insurance in Virginia. The revisions will result in an overall...
A.M. Best: Outlook Stable for Missouri Valley Mutual Insurance
Nov 25 2015 // A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of Missouri Valley Mutual Insurance Co. (Missouri Valley)...
