Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
WTW: US Commercial Insurance Price Increases in Q1 ‘Steady’ at 6.3%
Jun 11 2024 // Broker WTW said commercial lines insurance increased overall by an average of 6.3% during the first quarter. Quarterly price increases have been about 6% since the global pandemic, WTW reported in its Commercial Lines...
Rightward Shift After Election Could Limit Future EU Climate Policies
Jun 11 2024 // A more rightward-leaning European Parliament will make it harder to pass ambitious EU climate policies, but the majority of Europe’s current world-leading green policies are likely to stay put, lawmakers, officials...
Britam of Kenya Plans to Enter $5 Billion Congo Insurance Market
Jun 11 2024 // Britam Holdings Ltd. is hunting for opportunities to enter the massive but under-served insurance market in Democratic Republic of Congo later this year. Kenya’s biggest listed insurer by market value with operations...
North Carolina Commissioner Lands on 8% Rate Increase for Dwelling Policies
Jun 10 2024 // North Carolina Insurance Commissioner Mike Causey has settled on an 8% average rate increase for dwelling insurance policies, starting Nov. 1. The North Carolina Rate Bureau, basing its request on data from property...
Global Reinsurance Sector Outlook Revised to Positive on Robust Profits, Tighter T&Cs
Jun 10 2024 // The market segment outlook for the global reinsurance segment has been revised to positive from stable after the sector saw robust profit margins in 2023, according to AM Best, which attributed the sector’s improved...
US Auto Insurance Market on the Mend; Homeowners Line Volatile: Fitch
Jun 7 2024 // The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous...
Markets/Coverages: MGA Nirvana Renews Media, Tech & Cyber Binder With Increased Media Liability Line
Jun 7 2024 // Nirvana, the London-based managing general agent and Lloyd’s coverholder, announced the renewal of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £/$/€10 million...
Report Shows Increase in Total EV Loss Claims
Jun 7 2024 // A new report shows a jump in total loss frequency for both electric and newer internal combustion engine automobiles. Mitchell this week released its Q1 2024 trends report: Plugged-In: EV Collision Insights. The report...
Staff Warned Off Whistleblower Hotlines: Global Survey
Jun 6 2024 // More than half of whistleblowers have felt pressured not to use internal hotlines to raise red flags at large global businesses and public bodies, a global EY survey showed. The number of organizations without a...
Commercial Property Insurance Market Proving More Stable, Capitalized: USI
Jun 6 2024 // Following last year’s historically challenging property insurance market, 2024 is proving to be “a more stable and capitalized market,” USI Insurance Services reported in its latest Commercial Property...
P/C Insurers Slow to Achieve Analytics Ambitions: Survey
Jun 5 2024 // Just under half of property/casualty insurers recently surveyed by WTW say they plan to incorporate artificial intelligence into their analytics (49%), but most have yet to bring “traditional” analytics into...
Sanctioned Oil Tankers Pose Rising Environmental Risk in Mediterranean, Greece Says
Jun 5 2024 // Unregulated tankers sidestepping Western sanctions are posing a bigger risk to the Mediterranean region and Greece is undertaking more protective measures to safeguard its coast, the country’s shipping minister told...
Report: Cost of Prescriptions in Workers’ Comp on The Rise
Jun 3 2024 // While overall utilization is trending downward, cost of prescriptions in workers’ compensation is on the rise, driven by “high-dollar topical agents” that primarily come from out-of-network channels, as...
Firefighters Battle California Wildfire With Hot Weather in the Forecast
Jun 3 2024 // Firefighters battling a California wildfire burning east of San Francisco have increased containment on the fire, but hot weather is in the forecast for the next few days. Nearly 500 firefighters, along with several air...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
Jun 3 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024, according to The Council of Insurance Agents and Brokers’ Q1 Market Survey. With...
Nuclear Verdicts Surge to $14.5 Billion in 2023, Report Shows
Jun 3 2024 // Nuclear verdicts of at least $10 million reached a 15-year high in 2023, while 27 verdicts were “thermonuclear,” or more than $100 million, according to a new study by research firm Marathon Strategies. The...
Social Inflation Key Factor in Rise of Loss Severity: AM Best
Jun 3 2024 // Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the past decade, indicating other factors are influencing claims costs for indemnity and expense payments, according to...
Popular South Carolina Country Music Venue Shuts Down After 29 Years Due to Liquor Liability Insurance Costs
Jun 3 2024 // A popular country music venue in Greenville, South Carolina, has closed its doors after almost 30 years, citing the cost of liquor liability insurance in the state. The Blind Horse Saloon, known for hosting some well-known...
American National Exiting Homeowners Insurance Market
May 31 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...
