Trends - Latest Insurance News

Rising Rates Not Enough to Ease Pressure on UK Insurers

Oct 15 2012 // Market conditions for UK non-life insurers remain challenging as the difficult economic environment curbs demand for coverage and insurers can no longer rely on reserve releases to improve profitability, according to a...

NOAA Opens Center for Weather and Climate Prediction at U. of Maryland

Oct 15 2012 // The National Oceanic and Atmospheric Administration is opening its new Center for Weather and Climate Prediction, located at the University of Maryland in College Park.NOAA Center for Weather and Climate Prediction. Photo...

Md. Woman Convicted of Disability Fraud, Faces Up to 5 Years in Jail

Oct 12 2012 // Prosecutors say a woman who collected federal disability benefits while operating a fitness center has been convicted of making false statements to obtain those benefits. A jury convicted 48-year-old Darlene Altvater of...

Survey: New Orleans Attracting More Tourists, Spending

Oct 12 2012 // A new survey finds New Orleans hosted 4.9 million visitors in the first half of 2012, a 2 percent increase over the same period in 2011, with spending increasing 11 percent to $3.45 billion The Advocate reports the survey...

Drought Holds Steady in Midwest, Clouding Winter Crop Outlook

Oct 12 2012 // The nation’s worst drought in decades showed no signs of improvement last week in parts of the Midwest and Plains where the corn harvest is about two-thirds complete, clouding the prospects for the winter wheat crop,...

2012 Agency E&O Survey: Participate Now

Oct 11 2012 // Once again, Insurance Journal is polling its readers asking for their thoughts on today’s agency errors and omissions market. Don’t miss your chance to find out what’s been going on with insurance...

Best Reports Italy’s Non-Life Insurance Sector Faces Shifting Landscape

Oct 11 2012 // The Italian non-life insurance market faces changes as the sector is subject to new legislation and industry consolidation, while the country’s ongoing economic challenges constrain demand for coverage, according to...

Louisiana in 2011 Saw Decline in Rear-Seat Passenger Deaths

Oct 10 2012 // More people in Louisiana seem to be buckling up in the back seat. The Louisiana Highway Safety Commission says preliminary crash data shows that 34 rear-seat passengers were killed in Louisiana crashes in 2011. The...

Best Affirms Greenlight Re and Affiliates Ratings; Outlook Stable

Oct 10 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Greenlight Reinsurance, Ltd., as well as the FSR of ‘A-‘...

Best’s Report on Spanish Non-Life Sector Finds Profits, Future Challenges

Oct 10 2012 // “The Spanish non-life insurance sector remained profitable in 2011, but growth remains challenging, as it continues to face one of the bleakest economic environments since the 1930s,” according to a new report...

NCCI Recommends Conn. WC Loss Costs and Rates Increases

Oct 9 2012 // The National Council on Compensation Insurance recently filed a proposal for workers’ comp loss costs and rates increases in Connecticut. The NCCI is proposing that the Connecticut regulators approve a +7.1 percent...

D.C. Merges Insurance Markets Under Health Care Law

Oct 9 2012 // Small businesses in Washington will be required to buy employee health insurance through a city-run exchange beginning in 2014. The District of Columbia is combining its health care exchange markets for individuals and...

U.S. Insurers Say Fraud Costs on the Rise: Survey

Oct 9 2012 // Forty-five percent of insurers estimated that insurance fraud costs represent 5-10 percent of their claims volume, while 32 percent said the ratio is as high as 20 percent. This is according to a survey of U.S. insurers...

State Auto Estimates $6.5 – $7.5Mn Q3 Cat Losses; RED Reserves Increased

Oct 9 2012 // State Auto Financial Corporation (STFC) estimates the impact of catastrophe losses in the third quarter of 2012 at between $6.5 million and $7.5 million in pre-tax net. It noted that during the quarter six catastrophe...

Best Affirms Sirius International Group’s Ratings; Outlook Stable

Oct 8 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Sweden’s Sirius International...

Beyond ‘Profits-Only’: 3 Trends That Will Affect Your Bottom Line

Oct 8 2012 // Global trends are like a river. Sometimes they are powerful, sometimes they are weak and sometimes they are so mellow a business can glide along like it’s on a leisurely, summer afternoon pontoon boat ride. But right...

Study: Homeowners Insurance Claims Cost Rising Rapidly

Oct 8 2012 // The cost of homeowners insurance claims has been rising rapidly because of the combined effects of rising claim severity and increases in claim frequency, according to an insurance industry report. A new Insurance Research...

Florida’s Citizens Defends Proposed 11.2% Rate Increase

Oct 8 2012 // Executives of Florida’s state-backed insurer defended a proposed statewide average 11.2 percent increase in homeowners rates as regulators, consumer advocates and other officials questioned the need for the...

Homeowners Claim Costs On the Rise