Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
RLI Marine Teams Up with National Equipment Register to Offer Theft Waiver
Dec 18 2007 // Peoria, Ill.-based RLI Marine announced today that it has entered into an agreement with National Equipment Register (NER) to help RLI clients reduce the expense associated with construction equipment theft. RLI...
N.C. Coastal Towns Fear Change Will Increase Flood Insurance Rates
Dec 17 2007 // Some coastal residents could see a spike in their insurance rates because of a recent decision by the North Carolina Building Code Council. The council toughened the coastal housing code for wind-borne debris. The code now...
S&P Raises RenRe’s Ratings to ‘A’ and ‘AA-‘; Outlook Stable
Dec 17 2007 // Standard & Poor’s Ratings Services has raised its counterparty credit rating on Bermuda-based RenaissanceRe Holdings Ltd. to ‘A’ from ‘A-,’ as well as its counterparty credit and...
Survey of Analysts Projects Healthy Underwriting Profits
Dec 17 2007 // Next year may just go down on record as one of the best insurance industry underwriting performances in the past 80 years, according to an industry survey of Wall Street stock analysts and industry professionals. Analysts...
Miss. Litigation Group Forms to Maintain Momentum in Katrina Cases
Dec 14 2007 // The Katrina Litigation Group announced its formation in Mississippi to proceed where the Scruggs Katrina Group began with major litigation on behalf of policy holders. This group is comprised of the Barrett Law Office,...
S&P Affirms AIG’s ‘AA’ Ratings; Asia Unit Upgraded to ‘AA+’; Outlook Stable
Dec 13 2007 // Standard & Poor’s Ratings Services gave the American International Group a vote of confidence as it affirmed AIG’s ‘AA’ long-term counterparty rating and its ‘AA+’ counterparty...
Towers Perrin Study Indicates U.S. Tort Costs Down in 2006
Dec 13 2007 // The 2007 update on U.S. Tort Cost Trends from the Tillinghast insurance consulting practice of Towers Perrin said U.S. tort costs totaled $247 billion in 2006, which is $57 less per person than in 2005 at approximately...
Power Returns Slowly in Okla.; Losses from Storm Could Rise to $35M
Dec 13 2007 // The lights are going back on slowly in Oklahoma after a massive ice storm, the insured losses from which could reach $35 million, an insurance industry trade group said. “Insurance claims from ice damage are often...
Best Revises Zurich Outlook to ‘Positive,’ Affirms ‘A’ Ratings
Dec 12 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Zurich Insurance Company (ZIC), the main operating company of...
Best Assigns ‘B++’ Ratings to Oswego; Outlook Positive
Dec 12 2007 // A.M. Best Co. has assigned an issuer credit rating (ICR) of “bbb+” and affirmed the financial strength rating (FSR) of ‘B++’ (Good) of Oswego County Mutual Insurance Company of Parish, NY. Best also...
Consumer Group Challenges Farmers Insurance’s California Homeowners Rate Increase
Dec 7 2007 // A California consumer group is challenging Farmers Insurance Co.’s request for a rate increase of 6.9 percent. The Foundation for Taxpayer and Consumer Rights (FTCR), in a petition filed Monday with the state...
Coastal Flood Peril Study: $3 Trillion Today – $35 Trillion by 2070
Dec 6 2007 // An exhaustive study of the threat posed by coastal flooding warns that “as many as 150 million people in the world’s major cities could be reliant on flood defenses by 2070 – more than three times the 40...
New Report Reveals Future Exposure to Coastal Flood in Key Cities
Dec 4 2007 // As many as 150 million people in the world’s major cities could be reliant on flood defenses by 2070 – more than three times the 40 million people today – as a result of climate change and urban...
Texas Supreme Court Shakes up Outlook for Co-insurers at Odds
Dec 2 2007 // Overpaying insurer may not always have cause of action against underpaying company It is common for an insured to have two insurers cover the same risk. When the insured is sued regarding that risk, both insurers have a...
Five Trends for Agents to Track
Dec 2 2007 // In a poem written 2,000 years ago by Horace, he used the phrase “carpe diem,” which is commonly translated as “seize the day.” Although interpretations of this phrase vary, one interpretation can...
Watson Wyatt: Property/Casualty Insurance Market to Remain Soft in 2008
Dec 2 2007 // The market for property and casualty insurance will stay soft in 2008, as premiums are expected to either decline or remain flat, according to actuarial and risk management experts at global consulting firm, Watson Wyatt...
Fla. Malpractice Insurance Rates Down Four Years After Limits Imposed
Dec 2 2007 // Four years ago, many Florida doctors threatened to quit their practices because their malpractice insurance premiums were spiraling out of control. Some doctors retired early, some moved out of state. A few briefly walked...
Survey: 22,700-Plus Wildfire Insurance Claims Filed in Calif.
Nov 29 2007 // The Insurance Information Network of California has confirmed that at least 22,700 claims filed from October’s Southern California fire and wind storms. The tally includes at least 2,000 insurance claims for damage...
FEMA: Decreasing Temperatures, Increasing Flood Risks for Western Residents
Nov 28 2007 // Winter brings more than just cold temperatures. It also brings an increased flood risk and the Federal Emergency Management Agency (FEMA) is warning residents of Idaho to prepare now — well ahead of rising waters....
S&P Says Saudi Insurance Market Able to Meet Regulatory Challenges
Nov 27 2007 // Standard & Poor’s Ratings Services has said that it considers the Saudi insurance market to possess the “inherent strengths,” which will allow it to “ride out” forthcoming regulatory...
