Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Insurers Increasingly Concerned for Western U.S. Wildfire Season
Jun 14 2022 // As Western wildfires force evacuations in Arizona and California – on the heels of an early and severe wildfire season in New Mexico – insurers are increasingly eyeing the growing risks. “Insurers are very much...
Keeping Up With Demand for Cybersecurity Professionals
Jun 14 2022 // The pressure was on. Someone, somewhere, was attacking computer systems so customers couldn’t reach certain websites. In a windowless room in Denver, Zack Privette had worked all morning with his security team to...
Medical Professional Liability Insurance Market Improves but Still Unprofitable
Jun 14 2022 // The U.S. medical professional liability insurance (MPLI) market saw an improvement in financial performance in 2021 but its combined ratio remained an unprofitable 108 and a return to profitability is unlikely, said Fitch...
Workers Compensation Catastrophes: Past, Present, and Future
Jun 9 2022 // This content originally appeared on NCCI’s Insights page. It is used here with permission. Catastrophes in insurance are generally associated with large losses that occur in the property lines of business, such as...
Washington High Court Declines to Shift Duty to Inform of Drug Risks to Makers
Jun 6 2022 // A prescription drug maker has done its legal duty by warning prescribing physicians of a drug’s risks in accordance with Washington law even when the drugs are advertised directly to consumers, the state’s...
Tesla Faces Increase in Complaints Over ‘Phantom Braking’
Jun 6 2022 // Tesla Inc. is facing stepped-up scrutiny from US regulators who have received 758 complaints of cars made by the company that suddenly brake at high speeds, more than double the number of reported incidents earlier this...
Global Re/insurers See Average Premium Increases of 11% in Q1
Jun 6 2022 // Premium growth during the first quarter of 2022 saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from...
Cyber Insurance Premiums Up 27.5% to Lead All Lines in Q1: CIAB
Jun 6 2022 // According to The Council of Insurance Agents & Brokers’ (CIAB) Commercial Property/Casualty Market Index, capacity for cyber insurance may be decreasing while demand is increasing, which could have driven cyber...
Legal Malpractice Claims Severity Keeps Rising
Jun 6 2022 // Almost all insurers that participated in a recent survey said they have been involved with a lawyers professional liability insurance (LPLI) claim of more than $50 million in the last two years — and at least one...
Report: California Workers’ Comp Written Premium for 2021 Down 2%
Jun 6 2022 // California written premium for 2021 was 2% below 2020 and 14% below 2019, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California issued released its quarterly experience report, an update...
Colorado St. Hurricane Team Now Forecasts ‘Well Above-Average’ Hurricane Season
Jun 3 2022 // A day after hurricane season began on June 1, the hurricane research team at Colorado State University upped its forecast of the Atlantic hurricane season to “well above average” and predicted five major...
7.9% Average Rate Increase for North Carolina Homeowners Kicks in This Week
Jun 3 2022 // Starting this week, North Carolina homeowners will see insurance premiums rise by an average of almost 8% for new and renewing policies, after a negotiated rate increase took effect June 1. The North Carolina Rate Bureau...
AM Best Revises Outlook to Positive for Wisconsin’s West Bend Mutual
Jun 2 2022 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of West Bend Mutual Insurance...
Covid-19 Led to 20% Increase in Texas Workers’ Comp Claims
Jun 1 2022 // The number of workers’ compensation claims reported to the Texas Department of Insurance, Division of Workers’ Compensation (DWC) increased 20% during the first 27 months of the COVID-19 pandemic (January 2020...
S&P Upgrades Fairfax Operating Subsidiaries to ‘A’; Outlook Stable
Jun 1 2022 // S&P Global Ratings raised the financial strength ratings on the core insurance and reinsurance subsidiaries of Fairfax Financial Holdings Ltd. to “A” from “A-” with a stable outlook. The rating...
U.S. P/C Q1 2022 Underwriting Income Up 5%: AM Best
May 31 2022 // AM Best reported Friday that first-quarter net underwriting income for the U.S. property/casualty industry rose 4.6% to $3.3 billion. Explaining the result, AM Best said that a 10.5 percent jump in net earned premiums and...
Cyber Insurance Premiums Up 27.5% to Lead All Lines in Q1: CIAB
May 31 2022 // According to The Council of Insurance Agents & Brokers’ (CIAB) Commercial Property/Casualty Market Index, capacity for cyber insurance may be decreasing while demand is increasing, which could have driven cyber...
Global Re/insurers See Average Premium Increases of 11% in 1st Quarter: Gallagher Re
May 31 2022 // Premium growth during the first quarter saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from Gallagher...
Cyber-Hygiene Confidence Low but Insurance Is Making an Impact: Survey
May 27 2022 // Nearly three quarters of global cyber-risk decision markers recently surveyed said their company experienced at least one cyberattack in the past year and while these attacks have spurred more investment in cyber-risk...
Report: California Workers’ Comp Written Premium for 2021 Down 2%
May 26 2022 // California written premium for 2021 was 2% below 2020 and 14% below 2019, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California issued released its quarterly experience report, an update...
