Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Video Marketing Trends in the Insurance Industry: Engaging Audiences & Building Trust
Oct 21 2024 // The insurance industry, traditionally rooted in face-to-face interactions and extensive documentation, is undergoing a significant transformation with the rise of video marketing. As digital communication becomes the norm,...
3 Emerging Risks: Microplastics, 3D Printing and Heat Pumps
Oct 21 2024 // We often take for granted the resources and materials that help us run our businesses and build our homes. Steel, cement, plastic — building blocks such as these have afforded us the flexibility to grow our...
Making Friends With the Future: Agency Tech Moving at a Faster Pace Than Ever Before
Oct 21 2024 // That used to be one of my biggest beefs as an agency owner — I have all of these pieces of tech and none of them talked to each other,” Vonda Copeland, co-owner and vice president of operations at Copeland...
Climate Change Causes 379% Hike in Insured Damages in Canada Over 10 Years: Report
Oct 17 2024 // The annual average insurable losses in the last decade increased in Canada by a whopping 379%, when compared to the prior 30-year average, according to an analysis from MyChoice, a Toronto-based insurtech company. The...
Texas Commissioner Rejects TWIA’s Proposed Rate Increase
Oct 16 2024 // Texas Insurance Commissioner Cassie Brown issued an order this week disapproving Texas Windstorm Insurance Association’s proposed 10% increase to property and commercial rates. The Department Department of Insurance...
Fitch Revises Cincinnati Financial’s Outlook to Positive From Stable
Oct 16 2024 // Fitch Ratings has affirmed the ‘A+’ (Strong) Insurer Financial Strength (IFS) ratings for Cincinnati Financial Corporation’s (CINF) three property/casualty insurance subsidiaries and its life insurance...
Average Weekly Wage Increase Bumps California Workers’ Comp Benefits for 2025
Oct 16 2024 // California’s State Average Weekly Wage rose nearly 3.8% in the year ending March 31, resulting in an increase in California workers’ compensation temporary total disability and permanent total disability rates...
AM Best Revises Outlook to Positive for Kansas’ Upland Mutual
Oct 15 2024 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Upland Mutual Insurance, Inc....
Fitch Expects Insurance Industry Losses of Up to $50B From Milton
Oct 11 2024 // Fitch Ratings expects Hurricane Milton to cause between $30 billion and $50 billion in insured losses to push total industry losses in 2024 above $100 billion for the fifth straight year. The range of losses expected by...
Severity of Ransomware Attacks Rose 68% in First Half of 2024, Report Shows
Oct 11 2024 // Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-Year Update, which details emerging...
Russian Strikes on Ukraine’s Ports Push Up Insurance Rates: Market Sources
Oct 10 2024 // A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump in insurance costs and forced some shipowners to cancel bookings, insurance sources and a broker said...
Hurricane Milton Could Use Up P/C Insurers’ 2024 Catastrophe Budgets
Oct 10 2024 // S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. property/casualty insurers, affecting underwriting margins and earnings. In a...
Munich Re Specialty to Enter Spanish Insurance Market
Oct 10 2024 // Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland...
Intersys Expands in UK Insurance Market With Launch of London Office
Oct 9 2024 // Intersys, the UK-based provider of cyber risk management solutions, announced its expansion in the UK insurance market with the opening of an office in Leadenhall Market in London. Intersys’ London office will serve...
Russia and Iran Are Ramping Up Threats to UK, Spy Chief Warns
Oct 9 2024 // Threats to the UK from Russia and Iran and the danger posed by the Islamic State group have increased in recent months, according to the head of Britain’s domestic spy agency. Ken McCallum, the director-general of...
WCIRB: California Workers’ Comp Written Premium in 2023 Was up Slightly
Oct 9 2024 // California workers’ compensation written premium in 2023 was slightly above 2022, while written premium for the first six months of 2024 is 2% lower than the first six months of 2023, a new report shows. The...
American Water Reports Cyber Incident; Shuts Down Customer Portal
Oct 8 2024 // New Jersey-based American Water, which runs water treatment, transmission, wells and other water facilities for 14 states, has reported a cyber incident. The company has deactivated its customer portal, MyWater, as a...
The Rapid Growth of the Surplus Lines Market – What’s Brewing Podcast (Episode 3)
Oct 8 2024 // This post is part of a series sponsored by IAT Insurance Group. In this episode, EVP of Excess and Surplus Coy Rudd discusses marketplace conditions, IAT Insurance Group’s appetite and growth, and recent successes...
Auto Insurers Face Rising Repair Costs, EV and Tech Complexity in 2025: Report
Oct 7 2024 // Amid inflation and labor shortages, the growing impact of electric vehicles (EVs) and rising repair costs, insurers and repairers will have a bumpy road to navigate in the year ahead, according to CCC Intelligent Solutions...
Hurricane Kirk’s Remnants Forecast to Hit Europe Later This Week
Oct 7 2024 // The remnants of Hurricane Kirk are forecast to hit northwest France on Wednesday, bringing heavy rain and gale-force winds. Hurricane Kirk peaked at Category 4 storm over the Atlantic last week, but is weakening as it...
