Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Cyber Insurance Market ‘Stable’ With Potential for Growth, Says AM Best
Jun 24 2024 // According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a ‘stable’ outlook despite a stall in premium growth. Analysts at AM Best issued a segment...
New Drivers and Electric-Vehicle Tech Bring New Risks to Auto Insurance Market
Jun 21 2024 // High claim severities, persistent risky driving behavior, electric vehicles and shop-and-swap consumers are challenging auto insurers to stay profitable. The challenges will continue through the end of the year and beyond,...
AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey
Jun 20 2024 // A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher...
Excessive Heat An Increasing Concern in Workers Comp: WCRI
Jun 20 2024 // With temperatures pushing above 90 degrees in parts of the Midwest and Northeast United States this week, many American workers are clocking in during what AccuWeather described as an “intense heat wave that is...
Businesses Do Not Have Proper Coverage for Rising Liability Losses, Says Chubb
Jun 20 2024 // An annual report from Chubb has revealed a couple of troubling trends for many businesses—the frequency and severity of large losses are up and companies are underestimating the amount of liability coverage they...
Survey: Most Homeowners Believe Their Policy Covers Flood
Jun 20 2024 // Most U.S. homeowners don’t know the policy covering their home doesn’t cover flooding, a new survey shows. Respondents in a survey out this week from Trusted Choice, a group representing the members of the...
AM Best Revises Outlooks to Stable for Philadelphia Contributionship Group
Jun 19 2024 // AM Best reports it has has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of the members of...
Report: Corporate Risk Level Highest in 12 Years
Jun 17 2024 // Economic volatility, geopolitical upheaval and artificial intelligence (AI) have driven the corporate threat level to its highest in 12 years, according to Clyde & Co’s 2024 Corporate Risk Radar. The survey of...
How Wrap-Up Insurance Cost Savings are Realized
Jun 17 2024 // This post is part of a series sponsored by TSIB. Understanding how insurance cost savings work on a Controlled Insurance Program (CIP), also known as a Wrap-Up, and who retains the risk/reward is important. There are...
American National Exiting Homeowners Insurance Market
Jun 17 2024 // Following its announcement several months ago to leave the homeowners insurance business in nine states including California and Louisiana, American National appears to be exiting the line in all states. According to a...
A.M. Best: Rapid Premium Growth Warrants Greater MGA Oversight
Jun 17 2024 // Though A.M. Best remains bullish on the delegated underwriting authority enterprises (DUAEs) market, it remains cautious of the risk managing general agents (MGAs) bring to insurers. In its latest market segment report,...
Survey: Mid-Market Leaders Peg Cyber, Economy and Regulation as Top Concerns
Jun 17 2024 // Business leaders place cybersecurity, the economy, regulatory challenges and global instability among their top concerns for the coming year, fueled by factors such as AI, climate change, nuclear verdicts and political...
Insurance M&A – a 2024 Outlook
Jun 17 2024 // Experts are calling it: 2024 looks like a good year for merger and acquisition (M&A) activity for the insurance industry. To make the most of this positive environment, buyers and sellers will be focusing on getting...
Wisconsin Average Indemnity Benefit Grew 10% in 2022: Study
Jun 17 2024 // Wisconsin’s average indemnity benefit per claim grew nearly 10% in 2022, fueled by large growth in the average duration of temporary disability per claim, according to a recent study from the Workers Compensation...
Insurance Keeping Up With Construction Demand: Construction Activity ‘Phenomenal’ Despite Labor Shortage
Jun 17 2024 // While the labor market continues to come up short for the construction industry, the insurance market is doing its job supplying the coverages the industry needs to keep up with the significant demand for new...
Industry Drill Down: NCCI Sees Declines in Construction Claim Frequency
Jun 17 2024 // The construction sector accounts for the largest premium share when it comes to workers’ compensation premium in National Council on Compensation Insurance (NCCI) states but improved safety measures and employee...
Survey: US Business Owners Seek More Insurance Coverage as AI, Election Risks Loom
Jun 13 2024 // Artificial intelligence and U.S. election have emerged as significant risks to businesses this year with an overwhelming 80% of owners worried their insurance will not cover a specific loss, a survey by insurance brokerage...
Most US Drivers Support Anti-Speeding Technology in Vehicles: IIHS Survey
Jun 13 2024 // More than 60% of the drivers in the United States would find it acceptable if their vehicle provided an audible and visual warning when they exceeded the posted speed limit, a survey by Insurance Institute for Highway...
US E&S Growth Slower in 2023; Berkshire, AIG Top Premium Rankings
Jun 13 2024 // An analysis by S&P Global Market Intelligence reveals that the pace of growth in the U.S. excess and surplus lines market has slowed since a peak growth rate of 32.3% recorded in 2021. In 2023, growth remained...
Key Emerging Risks: Cascading Effects of Natural Disasters, Supply Chain Resilience
Jun 12 2024 // Key emerging risks facing global economies, businesses and the re/insurance industry include the cascading effects of natural disasters, the weakening resilience of supply chains and the repercussions of persistent...
