Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Meta Battles FTC Over Future of Virtual Reality
Dec 9 2022 // The Biden administration on Thursday accused Meta Platforms Inc. of trying to buy its way to dominance in the metaverse, kicking off a high-profile trial to try to prevent the Facebook parent from buying virtual reality...
Report: California Workers’ Comp Public Self-Insured Claim Volume Rose in FY 2021/22
Dec 9 2022 // California’s public self-insured workforce rose less than 1% in the 12 months ending June 30, but the total number of public self-insured work injuries and illness claims reported to the state jumped 35%, as the...
AM Best Revises Outlooks to Negative for Wisconsin’s Badger Mutual
Dec 8 2022 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Badger Mutual Insurance...
World Bank Seeks to Restart Cat Bond Issuance to Boost Emerging Nations’ Resilience
Dec 7 2022 // The World Bank is looking to restart the issuance of catastrophe bonds to help developing countries improve their preparedness for losses from natural disasters. The supranational lender has issued close to $2.6 billion of...
AM Best Assigns Positive Segment Outlook to MGAs, Other DUAEs
Dec 7 2022 // Technology, talent and diverse sources of capital continue driving growth for managing general agencies and other delegated underwriting authority enterprises globally, according to AM Best, which assigned a positive...
New Mexico Approves Decrease in Workers’ Comp Loss Costs
Dec 6 2022 // The New Mexico Office of Superintendent of Insurance approved a rate proposal submitted by the National Council on Compensation Insurance that will reduce voluntary workers’ compensation loss costs by an average of...
Many Insurtechs Exit the Marketplace, and Other 2023 Predictions From Forrester
Dec 6 2022 // More than a quarter of insurtechs will leave the insurance marketplace in 2023 – just a couple years after investments in the space were at an all-time high, according to predictions from research and consulting firm...
Global P/C Insurance Outlook Now Negative: Moody’s
Dec 6 2022 // High claims inflation and rising reinsurance costs are among the factors that prompted analysts at Moody’s Investors Service to change their outlook for the global property/casualty sector from stable to negative,...
Call to Phase Out ‘Forever Chemicals’ Gains Investor Momentum
Dec 5 2022 // Investors managing $8 trillion in assets have written to the world’s biggest chemicals companies urging them to phase out the use of so-called forever chemicals that can accumulate in the environment and remain...
The Future of Insurance: PLUS Conference Recap
Dec 5 2022 // Technology is on everyone’s mind. Whether it’s using big data, AI or tackling the world of cybersecurity, technology tops the list of business concerns today. For the insurance industry, technology and how data...
Many Ethnic Minorities in UK Financial Services Face Racism, Discrimination: Survey
Dec 5 2022 // The UK may be more ethnically and racially diverse than ever, but minorities working in the financial services industry continue to face discrimination, according to a new study. About 70% of ethnic minorities working in...
Getting Unstuck: Self Examination for Agency Owners to Fuel Momentum and Growth
Dec 5 2022 // Every business hits one or more plateaus during its development. This is normal, natural, and predictable. What once worked no longer works — at least as well as it used to work. I call this getting...
2022 Hurricane Season Ends But Was the Third-Costliest on Record, Thanks to Ian
Dec 2 2022 // An Atlantic hurricane season that had 14 named storms officially ended on Wednesday, leaving residents in the Florida Keys to celebrate even as others around Florida and Puerto Rico continue to grapple with the damage...
‘Droves’ of Global Re Market Entrants Unlikely; Outlook Stable: AM Best
Dec 2 2022 // Will 2023 reinsurance renewals mark a turning point to a “true hard market” that attracts “new capital in droves” and expands supply? Analysts from AM Best raised the question in a new Best’s...
Risk Managers Want More Involvement in Organizational ESG Strategy: WTW Survey
Dec 1 2022 // More than half of risk managers are significantly involved in their organization’s environmental, social and governance (ESG) efforts, but 77% believe they should take an active or more active role in ESG strategy...
U.S. E&S Premiums Continue Growth in 2022: S&P
Nov 30 2022 // According to an analysis by S&P Global Market Intelligence, the U.S. excess and surplus market continued to grow in 2022, surging $37.6 billion in premiums during the first six months. Direct written premiums in the...
Report: It Takes 7 Years to Close Most California Workers’ Comp Claims
Nov 30 2022 // It takes seven years to close the vast majority of workers’ compensation claims in California, more than double the time in the median state. The Workers’ Compensation Insurance Rating Bureau of California...
Private Flood Insurance Market Growing; NFIP ‘Adrift’: AM Best
Nov 28 2022 // Hurricane Ian may result in one of the largest losses in the history of the National Flood Insurance Program and add to its current $20.5 billion debt. According to a market segment report from AM Best, the projected range...
Property Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals
Nov 23 2022 // Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according to a commentary from Fitch Ratings Fitch expects double-digit percentage premium...
Missouri Dept. of Insurance Recommends 6.4% Decrease in Workers’ Comp Rates
Nov 22 2022 // The Missouri Department of Commerce and Insurance (DCI) is recommending a 6.4 percent decrease in workers’ compensation insurance loss costs for 2023. This marks the seventh time in eight years that average...
