Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Revising the New Normal: Exploring the Future of Work for the Insurance Agent
May 6 2024 // Senator Bernie Sanders of Vermont, socialist and one-time presidential candidate, has been making headlines recently suggesting that government should mandate 32-hour work weeks for the same pay as the traditional 40-hour...
NCCI’s Chief Actuary Discusses Workers’ Comp Profits, Safety and Future
May 6 2024 // The workers’ compensation system overall is healthy and strong. The sector has seen long-term frequency declines for multiple decades with moderate severity of claims costs for at least the past decade. That’s...
Rising Prices, Low Satisfaction Drive 49% of Customers to Shop For New Auto Insurance
May 3 2024 // Increased premiums combined with lackluster customer satisfaction scores are driving record numbers of auto insurance customers into the market for a new policy, according to the J.D. Power 2024 U.S. Insurance Shopping...
Navigating Today’s Challenging Insurance Market: Leveraging Technology for Agencies
May 2 2024 // This post is part of a series sponsored by Dyad. In today’s rapidly evolving insurance landscape, agencies face many challenges. From increased competition to changing consumer expectations and staying ahead in this...
Missouri Supreme Court Strikes Down 2022 Vote on KC Police Funding
May 2 2024 // The Missouri Supreme Court on Tuesday took the unusual step of striking down a 2022 voter-approved constitutional amendment that required Kansas City to spend a larger percentage of its money on the police department, and...
The Future Is Near for Self-Driving Trucks on US Roads
May 1 2024 // On a three-lane test track along the Monongahela River, an 18-wheel tractor-trailer rounded a curve. No one was on board. A quarter-mile ahead, the truck’s sensors spotted a trash can blocking one lane and a tire in...
Study: California’s 2023 Snowy Rescue from Megadrought a Freak Event
May 1 2024 // Last year’s snow deluge in California, which quickly erased a two decade long megadrought, was essentially a once-in-a-lifetime rescue from above, a new study found. Don’t get used to it because with climate...
Investors Are Increasingly Interested in a Novel Type of Weather Insurance
Apr 30 2024 // Interest in startups trying to shake up the insurance industry is on the rise as weather catastrophes worsen. The latest sign: New York-based Arbol has raised $60 million in a Series B funding round. Founded in 2018, Arbol...
US to Require New Cars to Have Emergency Braking Systems by 2029
Apr 30 2024 // Nearly all new passenger cars and trucks sold in the United States will be required to have automatic emergency braking systems by September 2029, the National Highway Traffic Safety Administration (NHTSA) said on Monday,...
Key Insurer Says Russia Oil Price Cap Increasingly Unenforceable
Apr 30 2024 // A Group of Seven-imposed cap on the price of Russia oil is becoming increasingly unenforceable, an organization at the heart of the global insurance industry said, offering one of the most direct criticisms yet of measures...
Markets/Coverages: Marsh Expands Cyber Facility ECHO, Offering Up to $125M of Excess Insurance Capacity
Apr 29 2024 // Marsh, the insurance brokerage business of Marsh McLennan, announced an additional $25 million layer of capacity to its existing $100 million Cyber ECHO facility. Available to Marsh clients globally, Cyber ECHO now offers...
Report: Cybercrime ‘A Thriving Business’ as US Claims Frequency Rises
Apr 26 2024 // Cyber claims frequency in the U.S. rose 13% last year, a new report shows. According to Coalition’s 2024 Cyber Claims Report, released this week, cybercrime is “a thriving business that adversely impacts”...
Viewpoint: Insurance Sector Adopts Easy-to-Use Technology for Digital Transformations
Apr 25 2024 // Upgrading or changing legacy platforms and enterprise software can be a nightmare to disentangle, particularly when dealing with existing operating systems, data storage, and payment processing software. When planning an...
Berkley CEO: Property E&S Momentum Slows but ‘Some More Hay’ to Be Made
Apr 24 2024 // When it comes to observations of the excess and surplus lines market, there is a difference between the momentum of liability and property lines, said W.R. Berkley CEO W. Robert Berkley, Jr. Addressing some talk that has...
Global Insurance Prices Continue Moderating as Rates Decline in Most Regions: Marsh
Apr 24 2024 // Global commercial insurance rates increased by 1% on average in the first quarter of 2024, compared with a 2% increase in Q4 2023, according to the Global Insurance Market Index published by Marsh, the insurance brokerage...
OPTIS: Insurance Agency M&A Down 18% in Q1 2024
Apr 23 2024 // The first quarter of 2024 was the slowest for insurance agency mergers and acquisitions since the middle of the pandemic, according to investment banking and financial firm OPTIS Partners. OPTIS Partners’ M&A...
Poll: Climate Change Concerns Grow, but Few Believe Biden’s Climate Law Will Help
Apr 23 2024 // A poll from the Associated Press-NORC Center for Public Affairs Research shows 45% of U.S. adults say they have become more concerned about climate change over the past year (six-in-10 Democrats and one-quarter of...
Strong Prices Support London Market Profits, Prompting Revision in AM Best Outlook
Apr 22 2024 // The strong pricing environment for most business lines written in the London insurance market is expected to support good underwriting profitability – factors that have led AM Best to revise its outlook for the segment...
World’s Workers Increasingly at Risk as Climate Changes: Int’l Labour Organization
Apr 22 2024 // More than 70% of the global workforce is exposed to risks linked to climate change that cause hundreds of thousands of deaths each year, the International Labour Organization said on Monday, adding governments would need...
Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers
Apr 19 2024 // With its personal lines business benefiting from the impact of rate increases earning into the book, and the commercial lines insurance premium changes staying in double-digits, Travelers reported $1.1 billion in net...
