Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
N.C. Workplace Deaths Up 90% in 2014
Feb 23 2015 // Work-related fatalities in North Carolina increased by 90 percent in 2014 over 2013. There were 44 workplace fatalities, compared to 23 in 2013, the state Labor Department said. The most work-related deaths – 18 – were...
Despite Fewer Claims, Louisiana State Employees’ Workers’ Comp Costs Rise
Feb 23 2015 // The number of workers’ compensation claims filed by Louisiana state employees dropped by nearly one-third over the last eight years, but claims costs for state agencies continued to surge higher, according to a state...
Fraud Adds Up to 17% to Auto Insurance Injury Claims: IRC
Feb 23 2015 // A new study estimates that fraud and claim “build-up” add between $5.6 billion and $7.7 billion in excess payments to auto injury claims paid in the United States. The excess payments represented between 13...
2015 Outlook for P/C: Profitable Despite Lower Rates, Says Wells Fargo
Feb 20 2015 // The commercial property/casualty insurance market should remain stable and profitable in 2015, according to the Wells Fargo Insurance 2015 Insurance Market Outlook. Abundant market capacity and an improving economy have...
Florida’s Citizens’ Recovery Unit Increased Policyholder Refunds in 2014
Feb 20 2015 // Citizens Property Insurance Corp. reports it returned nearly $310,000 in refunds to affected policyholders in 2014 as part of its efforts to recover claims payments of $4.9 million by pursuing reimbursement from product...
Fatal Work Injuries in N.Y. Metro Area Declined in 2013: BLS
Feb 18 2015 // Work-related fatal injuries in the New York metropolitan area (the New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa. Metropolitan Statistical Area) totaled 152 in 2013, according to preliminary data from the U.S....
Reinsurers’ Shopping Spree Won’t Slow Down Falling Rates – S&P Report
Feb 18 2015 // In a recent report Standard & Poor’s Ratings Services said it anticipated further mergers and acquisitions in the global reinsurance industry. The report – “Reinsurers’ Shopping Spree...
Hit and Run Car Accidents in Florida up 23% in 2014
Feb 18 2015 // Florida law enforcement officials say hit and run crashes are increasing at an alarming rate. That’s why they’re launching a new campaign to let drivers know that leaving the scene of an accident can result in...
Lancashire Seen as Target as Lloyd’s Consolidation Trend Continues
Feb 17 2015 // Lloyd’s of London insurers Lancashire Holdings plc and Novae Group plc may be the next in line for takeover offers after Brit plc became the second U.K. firm within weeks to be acquired. Lancashire, which gained...
Outlook Revised to Stable for Illinois Casualty Co.
Feb 13 2015 // A.M. Best has revised the outlook to stable from negative for the financial strength rating (FSR) and issuer credit rating (ICR) of Illinois Casualty Co. (Illinois Casualty) in Rock Island, Ill., while affirming the FSR of...
Nevada Workers’ Compensation Loss Costs See Slight Decrease in 2015
Feb 12 2015 // Many Nevada employers will see a slight decrease in the premiums they pay for workers’ compensation insurance this year. Insurance Commissioner Scott J. Kipper approved a filing from the National Council on...
A.M. Best: Outlook Stable for Oklahoma Farm Bureau Mutual
Feb 11 2015 // A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of B- (Fair) and the issuer credit ratings of “bb-” of the members of Oklahoma Farm Bureau Group: Oklahoma...
Despite Fewer Claims, Louisiana State Employees’ Workers’ Comp Costs Rise
Feb 11 2015 // The number of workers’ compensation claims filed by Louisiana state employees dropped by nearly one-third over the last eight years, but claims costs for state agencies continued to surge higher, according to an...
Cayman Islands Reports Steady Growth in Captives During 2014
Feb 11 2015 // The Cayman Islands captive insurance industry reported steady growth in 2014, with 22 new captives formed, according to the Insurance Managers Association Cayman (IMAC). The total number of captives domiciled in Cayman was...
Catlin CEO Expects Number of Mergers Among Smaller Insurers to Increase
Feb 11 2015 // Stephen Catlin, who is selling his Lloyd’s of London insurer to XL Group plc for $4.2 billion, expects the pace of mergers among smaller insurers to gather pace. “Anyone who has got a market value of less than...
Top Vehicle Claims Trends from 2014
Feb 9 2015 // The top five states in which a person was most likely to file an auto claim last year were all on the East Coast. December had the lowest volume of all vehicle claims of any month. Those are just two of the facts mined by...
Though Rising, Ohio Home and Auto Insurance Rates Still Low
Feb 9 2015 // Combined, average homeowners and auto insurance premiums in Ohio are nearly $500 less than national averages, according to the state’s insurance department. Personal lines premiums in the state are among the lowest...
Traffic Fatalities Rose 16 Percent in Utah in 2014, Report Shows
Feb 9 2015 // The Utah Department of Transportation says 256 people died on roadways across the state in 2014, up 16 percent from 2013. It was Utah’s highest death toll since 2008, and it reversed a trend that saw fatalities drop...
Legislation Addressing Property Claims Litigation Likely to Crop Up in Texas
Feb 9 2015 // By the end of 2008, the Texas residual market for insuring seacoast properties for wind and hail figured it had enough resources available to pay claims for both Hurricane Ike and Hurricane Dolly that hit the Texas coast...
W.R. Berkley Reports Q4 Premium Growth, Net Income Drop
Feb 6 2015 // W.R. Berkley Corp. reported a stellar fourth-quarter in terms of premium growth, but net income dipped at year-end due in part to investment return challenges. Berkley’s 2014 Q4 net income is booked at $110.7 million...
