Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Private Market Could Grow As Government Flood Insurance Prices Rise: Fitch
Mar 6 2014 // As federal subsidies for flood insurance are reduced and the cost of government provided insurance goes up, the demand for private flood coverage could also rise, according to Fitch Ratings. However, it remains to be seen...
Obamacare Expected to OK Renewal of Extended Plans for 2 Years: Report
Mar 5 2014 // Americans who kept their health plans that didn’t comply with Obamacare requirements will be able to renew those policies for two more years, according to a person familiar with the matter. The Obama administration,...
Winter Losses Pile Up But No Rating Impact on P/C Insurers Expected: Fitch
Mar 4 2014 // Severe winter weather is causing large losses for property/casualty insurance companies in early 2014, however there should be no rating impact as a result, according to Fitch Ratings. The severe winter weather from Jan. 1...
IronPro Enters Fidelity, Crime Insurance Market
Mar 3 2014 // IronPro, the U.S. professional and management liability unit of Ironshore Inc., is entering the fidelity & crime insurance market with product capacity limits available of up to $30 million. Kevin Finn has been named...
New Estimates Say UK Floods Could Cost Insurers up to $2.5 Billion
Feb 28 2014 // An additional £500 million [$838 million] has been added to the flood loss estimates from the almost continual storms, some reaching hurricane strength, which have produced widespread flooding to parts of Britain since...
Study Says N.Y. ‘Scaffold Law’ Drives Up Construction Costs, Causes Injuries
Feb 27 2014 // A new study published this month challenges the claim that New York’s Labor Law 240, also known as the “Scaffold Law,” improves workplace safety. The study, titled “The Costs of Labor Law...
Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014
Feb 27 2014 // More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014. Although hiring for the most-in-demand positions may prove difficult. That’s according to the latest...
Report Projects L.A.’s Vulnerability To Future Sea Level Rise
Feb 26 2014 // Los Angelenos may expect to experience sea level rise of as much as two feet due by 2050 due to climate change, according to current projections. A team from USC partnered with the Los Angeles to gauge the impact of the...
Liberty Mutual Swings to Profit; 2013 Full-Year Income Rises 110% to $1.74B
Feb 25 2014 // Liberty Mutual Holding Company Inc. and its subsidiaries today reported net income of $496 million for its 2013 fourth quarter, improving from a net loss of $234 million during the prior-year fourth quarter. The insurer...
Best Affirms Validus Re Swiss, Bermuda & Holdings Ratings; Outlook Stable
Feb 25 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Validus Reinsurance, Ltd., (Validus Re – Bermuda) and Validus Reinsurance...
QBE Jumps on Premiums, North American Unit Outlook: Sydney Mover
Feb 25 2014 // QBE Insurance Group Ltd., Australia’s second-largest insurer by market value, climbed to its highest level in more than two months on plans to increase premium rates and bring its North American unit back to profit...
Northeast PIA Survey Shows Prices Rising, But at Slower Pace
Feb 24 2014 // In the first month of 2014, the PIA affiliates in Connecticut, New Hampshire, New Jersey and New York conducted their second-annual Market Trends Survey and found that the heralded hard market may not be launching as...
Urbanization, Mobility, Gridlock and Predictions of ‘Peak Car’
Feb 24 2014 // The world that Henry Ford put on wheels is poised for a stall. In the globe’s growing megacities, pollution and gridlock are putting a damper on driving. In India, some commuters are leaving their cars at home to...
USAA CEO, President Robles to Step Down in 2015
Feb 24 2014 // The president and CEO of the insurer of military families, USAA, announced he will retire from USAA in the first quarter of 2015. “It has been my privilege to work at USAA for nearly 20 years. However, in early 2015,...
Best Affirms Ratings of Beazley Insurance Company; Outlook Stable
Feb 24 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Beazley Insurance Company, Inc. (BICI), based in Farmington, Conn., a subsidiary of Beazley...
AXA Looking for Cheap Deals in Emerging Market Push
Feb 24 2014 // French insurance group AXA is looking for more acquisitions in emerging markets, the company said after posting a 14 percent rise in full-year net income and lifting its dividend by 13 percent. Faced with low interest...
ID Theft Complaints Up 18% in Illinois, AG Says
Feb 24 2014 // Illinois’ attorney general says the number of identity theft complaints received by her office rose 18 percent last year. Lisa Madigan says her office received about 3,000 complaints in 2013, up from about 2,500 the...
Commercial Insurance Markets Looking Favorable in 2014: Marsh
Feb 24 2014 // The ample capacity and competition that helped temper firming of U.S. commercial insurance rates in 2013 is expected to continue into 2014, unless catastrophe losses turn out higher than expected, according to a report by...
P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best
Feb 24 2014 // A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best. The industry managed its way to a nearly 60...
Report Blames ‘Reckless’ Captain for Sinking ‘Bounty’ Off North Carolina Coast in 2012
Feb 24 2014 // A captain’s “reckless decision to sail into the well-forecasted path of Hurricane Sandy” was the probable cause of the sinking of a tall ship off the North Carolina coast in October, 2012, the National...
