Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
New York Sees Increase in Insurance Fraud Convictions
Jul 17 2009 // The number of insurance fraud arrests in New York was down very slightly in the first half of the year, but conviction are up, according to a newly updated fraud report by the state’s insurance department. The New...
State Farm Lloyds Seeks Homeowners Rate Increase in Texas
Jul 16 2009 // State Farm Lloyds has submitted a rate filing to the Texas Department of Insurance to increase its homeowner’s insurance rates in Texas by a statewide average of 8.5 percent, beginning Oct. 1 for existing customers...
P/C Industry Pressured by 2009 Recession; Turnaround in 2011
Jul 13 2009 // Results for the property/casualty industry over the next few years will be driven by the 2009 recession, mixed insurance premium pricing momentum, and modestly deteriorating underwriting results, according to a new...
Fewer Drunk Drivers on U.S. Roads; Concern Rises Over Drugged Drivers
Jul 13 2009 // A new roadside survey by the National Highway Traffic Safety Administration confirms a continuing decline in the percentage of legally intoxicated drivers. In 1973, 7.5 percent of drivers had a blood alcohol concentration...
S&P Raises Validus Outlook to ‘Positive;’ IPC Outlook Stays Negative
Jul 13 2009 // Standard & Poor’s Ratings Services has revised its outlook on Bermuda-based insurance and reinsurance holding company Validus Holdings Ltd. to positive from stable, and has affirmed its ‘BBB-‘...
G8 Eyes Climate as Summit Includes Emerging Powers
Jul 9 2009 // Leaders of the world’s richest nations and major developing powers meet on Thursday to seek common ground on global warming and international trade, with the poorer countries seeking concessions. U.S. President...
Florida’s Citizens Insurance Proposes to Hike Some Rates, Decrease Others
Jul 9 2009 // After three years of no increases, Florida’s Citizens Property Insurance Corp. is about to hike premiums up to 10 percent for many of its policyholders, although not for as many as some insurance insiders and...
Highways Deaths Declined in Florida in 2008
Jul 8 2009 // Highway deaths are at an 8-year low in Florida. Also for the first time since 2000, fewer than 3,000 people lost their lives on the state’s roadways, the Florida Department of Highway Safety and Motor Vehicles...
Survey: Claims Service Is Tops for Agents When Evaluating Carriers
Jul 8 2009 // Quality claims service continues to be the top factor in how independent agents evaluate their carriers, although insurers’ financial strength ratings are now a much bigger concern for agents than in the past, an...
California Commissioner Rejects Workers’ Comp Bureau Rate Increase
Jul 8 2009 // Citing testimony that self-insured employers have been able to reduce overall workers’ compensation costs, California Insurance Commissioner Steve Poizner has rejected the Workers’ Compensation Insurance Rating...
S&P Changes Outlook on PartnerRe’s Ratings to Negative
Jul 7 2009 // While Standard & Poor’s Ratings Services is positive in its outlook for PARIS RE (See related article), it is less so when it comes to the acquiring company, Bermuda-based PartnerRe. S&P said it has revised...
S&P, Best See Positive Outlook for PARIS RE Deal with PartnerRe
Jul 7 2009 // Both A.M. Best Co. and Standard & Poor’s Ratings Services have taken a positive outlook for their ratings on PARIS RE and its operating companies, following the announcement that the group would be acquired by...
Mass. Managed Auto System Brings Competition, Lower Rates, Survey Says
Jul 6 2009 // Nine new auto insurers, more carriers for each independent agency to represent, a drop in the number of uninsured drivers, and a decrease in policies written in the residual market — these are some of the advantages...
P/C Industry Posts $1.3B Loss in Q1; Combined Ratio Up to 102.2
Jul 6 2009 // The property/casualty insurance industry suffered a $1.3 billion net loss after taxes for first-quarter 2009, which constitutes a $9.8 billion adverse swing from the industry’s $8.5 billion in net income after taxes...
Cyber Security: Global Risk and Rising Complexity
Jul 6 2009 // Multinationals are fighting a battle on two fronts when it comes to cyber security as they seek to fend off new, emerging security threats and also comply with evolving global regulations. These emerging security threats...
Starr Teams up with Talbot, QBE for Construction Risks through Lloyd’s
Jul 1 2009 // Starr Underwriting Agents Limited and Starr Specialty Lines Insurance Agency, LLC, both subsidiaries of C. V. Starr & Co., Inc. announced that they can now offer additional capacity of up to $75 million “through...
Study Forecasts Deaths, Injuries After GM, Chrysler Bankruptcies
Jun 26 2009 // More than 3,400 Americans will be injured or killed by a defective Chrysler or General Motors vehicle during the first year of the car makers’ bankruptcies, according to a report by a consumer safety advocacy...
Willis is Positive for Future of Offshore Wind Insurance Market
Jun 25 2009 // A team of Willis Group Holdings has concluded that “insurers are increasingly seeing offshore wind as an attractive investment area with considerable growth potential.” The conclusion comes just ahead of the...
Best Affirms Wind River Re’s ‘A’ Ratings, Stable Outlook
Jun 25 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Wind River Reinsurance Company, Ltd. and its U.S....
Lawyer Says Alabama Agent Trying to Clean Up Ex-Employees’ Fraud
Jun 24 2009 // The lawyer for a Gulf Shores insurance agent has asked state officials to grant her a probation period to allow her to make repayments to customers victimized by fraud. Richard Lively said that revoking the license of...
