Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Markets/Coverages: QBE N.A. Starts Specialty Casualty; Ryan Specialty, Harleysville Team Up; Coalition, Vantage Capacity Partners; Joyn Expands Offerings
Apr 29 2022 // QBE North America launches Specialty Casualty business QBE North America today announced the launch of a Specialty Casualty business as part of its strategy to invest in areas where the insurer can offer distinct...
Climate Change Could Put 4% of Global GDP at Risk by 2050: S&P Study
Apr 27 2022 // Climate change could see 4% of global annual economic output lost by 2050 and hit many poorer parts of the world disproportionately hard, a new study of 135 countries has estimated. Ratings firm S&P Global, which gives...
National Guard Called Up to Help NW Minnesota Flood Threat
Apr 26 2022 // Volunteers and National Guard members in northwestern Minnesota spent two days sandbagging to fortify the city of Crookston from an expected record flood along the Red Lake River. Minnesota Gov. Tim Walz authorized 100...
81% of Flood Insurance Policyholders Will See Rate Increases, Report Says
Apr 26 2022 // When the Federal Emergency Management Agency rolled out a major overhaul to its beleaguered National Flood Insurance Program last April, it promised that bigger, richer homes would bear the brunt of premium increases,...
A Decade After Murder Conviction, Civil Trial Begins in Death of Virginia Lacrosse Player
Apr 26 2022 // A decade ago, University of Virginia lacrosse player George Huguely V was convicted of second-degree murder after a sensational criminal trial in the killing of his on-again, off-again girlfriend, Yeardley Love, a member...
London Market Continues to Benefit From Rising Rates and Other Tailwinds: AM Best
Apr 26 2022 // Upward premium rate momentum is expected to continue support underlying performance for the London market, despite mounting challenges connected to climate modeling, claims inflation and the war in Ukraine, according to AM...
Rule Aims to Make Florida Electricity 100% Renewable by 2050
Apr 26 2022 // Florida utilities would gradually increase their electricity to 100% renewable by 2050 under a proposed rule unveiled Thursday by the state’s agriculture commissioner. The proposed rule is an outgrowth of a lengthy...
Two-Thirds of Employees Might Seek New Jobs if Forced Back to Office: Global Survey
Apr 26 2022 // Worker demands for more flexibility and security, bolstered by the pandemic and a tight labor market, are only growing more intense as the world economy reopens and some firms begin trying to pull employees back to...
Premiums for Florida Cat Fund to Jump 12% This Year, Report Shows
Apr 26 2022 // Premiums paid to the Florida Hurricane Catastrophe Fund are expected to increase by more than 12% later this year, giving new urgency to calls to cut the fund’s retention level in half, a move that some estimates...
Massachusetts Approves 3.5% Workers’ Compensation Rate Decrease
Apr 26 2022 // The state’s insurance commissioner has approved an overall average decrease of 3.46% in workers’ compensation rates starting July 1, 2022 for Massachusetts businesses. Massachusetts businesses will save...
Allstate to Increase Magnitude of Auto Rate Hikes in 2022
Apr 25 2022 // Allstate said it is raising auto insurance rates more due to continued upticks in physical damage and bodily injury severity. The personal property insurer said in a statement on April 21 that first quarter unfavorable...
Small Businesses Are Burning Out: Survey
Apr 21 2022 // According to a recent survey by Next Insurance, small businesses are feeling stressed and frustrated by the state of the economy and inflation. Only 29% of respondents said they felt optimistic about an economic recovery...
Claims Inflation, Weakening Price Momentum Could Hit Reinsurer, London Mkt Profits
Apr 21 2022 // The global reinsurance and London market sectors face increased risks from rising claims inflation, financial market volatility and weakening price momentum, according to a commentary published by Fitch Ratings. As a...
UK Car Insurance Premiums Reached 18-Month High in 1st Quarter: Survey
Apr 21 2022 // The cost of a comprehensive car insurance policy in Britain touched an 18-month high in the first quarter and will continue to increase on the back of rising inflation and regulatory changes, a survey showed on...
Swiss Re Secures $1.15B Stop-Loss Protection to Support Reinsurance Growth
Apr 19 2022 // Swiss Re has secured US$1.15 billion in stop-loss cover that protects the entire group for severe underwriting-related losses over a five-year period. Swiss Re said the transaction supports its “growth opportunities...
UK CFOs Expect High Inflation to Cut Profit Margins: Deloitte Survey
Apr 19 2022 // More than seven out of 10 chief financial officers (CFOs) at Britain’s biggest companies expect high inflation to reduce their profit margins, and few see the Bank of England getting inflation under control in the...
Future Liability Releases at Center of Boy Scouts Bankruptcy
Apr 18 2022 // Protecting local Boy Scouts of America councils and troop sponsoring organizations from future liability for child sex abuse claims is critical to the national group’s reorganization plan, BSA attorneys told a...
California Plan Would Triple Sale of Electric Cars by 2026
Apr 18 2022 // California wants electric vehicle sales to triple in the next four years to 35% of all new car purchases, an aggressive target set as part of the goal to phase out the sale of gas-powered cars by the middle of next...
PFAS, Microplastics, Baby Food: Emerging Casualty Risks Keep Coming
Apr 18 2022 // There is no longer a need to ponder the “next asbestos” because the current litigation environment and the recent pace of additions to the list of emerging risks and trends in casualty insurance is enough to...
Rates Up Again in Q1 as Signs May Point to ‘Stronger Increases’: MarketScout
Apr 18 2022 // During the first quarter 2022 buyers of commercial insurance saw average rate increases across all lines of 6%, according to MarketScout’s Market Barometer. The average increase remained consistent compared to the...
