Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
U.S. Crop Writers Post Record Premium Growth: AM Best
Aug 15 2022 // Premiums in the federal multi-peril crop insurance (MPCI) program surged in 2021 to a record high of $14.9 billion, an increase of nearly 40% over the previous year, according to an AM Best report. The new Best’s...
Florida Claims Litigation Dropped in July, but AOB Share Continues to Rise
Aug 11 2022 // The volume of claims litigation in Florida rose in June then declined in July by almost the same amount. But the share of cases that are assignment-of-benefits claims rose to the highest level since early 2021, a...
AM Best Revises Mid-Hudson Group Outlooks to Negative, Affirms Ratings
Aug 11 2022 // AM Best has revised the outlooks to negative from stable while affirming the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Claverack Cooperative...
Cyber Insurance Gap Growing: Survey Report
Aug 11 2022 // According to a survey report released yesterday, not only are most North American businesses still not buying cyber insurance, but those that are don’t buy enough limit to cover last year’s median ransom...
Alex Jones’ $49.3M Verdict and the Future of Misinformation
Aug 8 2022 // Alex Jones is facing a hefty price tag for his lies about the Sandy Hook Elementary School massacre – $49.3 million in damages, and counting, for claiming the nation’s deadliest school shooting was a hoax – a...
Catch 2022: Law Requires Fla. Insurers to Report Plaintiff Legal Fees, But Data Not There
Aug 8 2022 // At a recent workshop held by the Florida Office of Insurance Regulation, a claims specialist for USAA summed up the conundrum that property insurers are about to face when asked to report the other side’s legal fees...
CSU Team Slightly Lowers Forecast for Still Above-Average Hurricane Season
Aug 5 2022 // The hurricane research team at Colorado State University has slightly lowered its outlook for the Atlantic hurricane season but is still calling for above-average action. The CSU Tropical Meteorology Project team is now...
Q2 Rate Increases Hold Steady: MarketScout
Aug 4 2022 // Personal and commercial rate increases stabilized virtually across the board in the second quarter of 2022, according to MarketScout’s Market Barometer. U.S. personal lines rates increased 5.16 % in the second...
London Insurance Sector Readies $50M Ukraine Grain Cargo Cover
Aug 4 2022 // The London insurance sector is preparing to cover Ukrainian grains and fertilizer shipments through a secure corridor, voyages that may need up to $50 million of insurance cover per cargo, industry sources involved said on...
Generali Beats Forecasts With H1 Net Profit of $1.4 Billion
Aug 2 2022 // Italy’s top insurer Assicurazioni Generali said on Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings...
Global Commercial Insurance Rates Rise 9%, Continuing Moderating Trend: Marsh
Aug 1 2022 // Global commercial insurance prices increased 9% in the second quarter of 2022 (down from an 11% increase in Q1), continuing a trend of moderating rate increases that began in Q1 2021, according to the Global Insurance...
Most Commercial Insurance Renewal Rate Changes Remain Up: Ivans Index
Aug 1 2022 // Premium renewal rate changes for all major commercial lines of business increased year over year with the exception of the workers’ compensation line, which remained negative, according to the Ivans Index second...
In Global Claims Report, Allianz Notes Rising Business Interruption Costs
Aug 1 2022 // The number of contingent business interruption claims more than tripled in 2021 as a deep freeze in Texas shut down much of the state’s power grid and a fire at a semi-conductor plant in Japan contributed to a global...
Despite Growing Pressures, Most Cyber Insurers Won’t Exit: Survey
Aug 1 2022 // The cyber insurance sector has been tested recently with growing ransomware attacks, rising premiums, and more sophisticated threat actors, but that isn’t necessarily scaring insurers away, according to a 2022 Cyber...
Academic Director Dustyne Bryant, MBA, CIC, CISR Named as APCIA 2022 Emerging Leader
Jul 29 2022 // July 27, 2022, Austin, TX – The National Alliance for Insurance Education & Research proudly announces the selection of Dustyne Bryant, MBA, CIC, CISR, as one of the American Property Casualty Insurance Association...
U.S. Crop Writers Post Record Premium Growth on Commodity Prices, Innovation: AM Best
Jul 29 2022 // Premiums in the federal multi-peril crop insurance (MPCI) program surged in 2021 to a record high of $14.9 billion, an increase of nearly 40% over the previous year, according to an AM Best report. The new Best’s...
Chubb Increases Loss Cost Trends ‘Rather Than Be Lagging and Get Caught’: Greenberg
Jul 28 2022 // Chubb CEO Evan Greenberg said the insurer is seeing favorable returns, but additional rate is needed to “keep pace with loss costs, which are hardly benign.” Greenberg said during the July 27 call to discuss...
Report: California Workers’ Comp Written Premium Down in 2021
Jul 27 2022 // Written premium for 2021 was 1.4% below that for 2020 and is the lowest since 2012, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California issued its quarterly report on written premium,...
Slump in Auto Sales Leads to Outlook Downgrade for Discovery Insurance in Carolina
Jul 27 2022 // AM Best financial rating service announced it has downgraded the outlook for North Carolina-based Discovery Insurance Co., from stable to negative after a decline in the non-standard auto insurer’s earnings and...
Alpine Glaciers Decline at Record Rates Following Heatwaves
Jul 26 2022 // MORTERATSCH GLACIER, Switzerland – From the way 45-year-old Swiss glaciologist Andreas Linsbauer bounds over icy crevasses, you would never guess he was carrying 10 kg of steel equipment needed to chart the decline of...
