Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Feb 24 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
Extreme Wildfires Expected to Increase 30% by 2050
Feb 24 2022 // Indonesia’s peatlands, California’s forests, and, now, vast swathes of Argentine wetland have all been ravaged by extreme wildfires, heralding a fiery future and the dire need to prevent it. With climate change...
Actuaries: Social Inflation Increased Commercial Auto Claim Costs by $20B Over 10 Years
Feb 24 2022 // The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to the cost of commercial...
Dakota Access Pipeline Loses Supreme Court Appeal, Leaving Its Future Unclear
Feb 23 2022 // The U.S. Supreme Court rejected an appeal by Energy Transfer LP’s Dakota Access Pipeline, letting stand a ruling that required a new federal environmental analysis and left the pipeline vulnerable to being shut...
Cyber Market Primed to Grow and Eclipse Property by 2040: Gallagher Re
Feb 23 2022 // Following a pause to stabilize the vessel, the cyber market is poised for a wave of growth that could make it larger than the property catastrophe market by 2040, said Gallagher Re. In fact, if the cyber market continues...
Munich Re Forecasts 14% Jump in 2022 Profit as It Reports Bounceback From Pandemic
Feb 23 2022 // German reinsurance group Munich Re on Wednesday forecast a 14% jump in profit this year as it reported a bounceback in 2021 from the coronavirus pandemic despite big claims from natural disasters. Marked by devastating...
Only 3% of Employees Want to Return Full-Time to Their Offices: Survey
Feb 22 2022 // Just 3% of white collar workers want to return to the office five days a week, according to a poll by management consultancy Advanced Workplace Associates, which warned employees will quit if bosses force them back...
Agency Salary Survey: Why Money Isn’t Everything to Agency Hires
Feb 21 2022 // Salaries and total compensation rose in 2021 for all levels of empoloyees reporting in the Insurance Journal Agency Salary Survey. But while insurance agency personnel on average made more money last year, their...
How Car, Home Inflation Is Driving Up Loss Costs for Insurers
Feb 21 2022 // The two possessions that most concern insurers — homes and motor vehicles — happen to be the largest contributors to the historic 7.5% inflation rate. Perhaps that should be no surprise. “It’s the...
Traffic Fatalities Continue on Record Pace But not in All States
Feb 21 2022 // The number of U.S. traffic deaths surged in the first nine months of 2021 to 31,720, keeping up a record pace of increased dangerous driving during the coronavirus pandemic, the U.S. government reported. The estimated...
Climate Change Could Push Flood Losses in U.S. to $40B by 2050
Feb 17 2022 // Climate change could result in the financial toll of flooding rising by more than a quarter in the U.S. by 2050, according to new research. The research, led by the University of Bristol and published in Nature Climate...
Rating Upgrades Increase for U.S. P/C Insurers in 2021
Feb 16 2022 // Ratings for the U.S. property/casualty industry returned to pre-pandemic levels with some companies strengthening balance sheets and improving operating results, said financial strength rating agency AM Best. In 2021 the...
After Months of Decline, Florida Claims Litigation Rose Sharply in January
Feb 16 2022 // Just when insurers saw signs that last year’s reform legislation may be having an impact on claims litigation, bad news appeared in the inbox Wednesday. CaseGlide, the maker of litigation management software, which...
Global Insurance M&A Rises in 2021, Despite Pandemic Pressures: Clyde & Co. Report
Feb 15 2022 // There were 418 completed mergers and acquisitions (M&A) worldwide in the insurance sector in 2021, up from 407 the previous year, according to a report published by law firm Clyde & Co. Activity was driven by a...
Just 3% of White Collar Workers Want to Return Full-Time to Their Offices: Survey
Feb 15 2022 // Just 3% of white collar workers want to return to the office five days a week, according to a poll by management consultancy Advanced Workplace Associates, which warned employees will quit if bosses force them back...
How Car, Home Inflation Is Driving Up Loss Costs for Insurers
Feb 15 2022 // The two possessions that most concern insurers — homes and motor vehicles — happen to be the largest contributors to the historic 7.5% inflation rate announced last week. Perhaps that should be no...
Cyber Criminals Nabbed $1.3B in Ransom Payments Over 2 Years: Report
Feb 11 2022 // Criminals netted $1.3 billion in ransom payments from hacking victims in the past two years, reflecting a massive surge in cyber-crime that has prompted a global effort to stop it, according to a new report from...
Zurich Insurance Reports 35% Increase in 2021 Operating Profit to $5.7 Billion
Feb 10 2022 // Zurich Insurance expects continued revenue and profit growth in the next two years, its chief financial officer said on Thursday, after the Swiss insurer reported its biggest annual profit since the financial...
4 in 10 Workers Report Decline in Mental Health, Delay in Health Care: Hartford Survey
Feb 9 2022 // New research from insurer The Hartford found 42% of U.S. workers report declines in their mental health, while a similar percentage (43%) have delayed routine health care appointments since the COVID-19 pandemic began. The...
SCOR Reports 19% Premium Growth in January Renewals, Average Price Hikes of 4.9%
Feb 8 2022 // SCOR reported 19.0% premium growth during the January property/casualty (P/C) reinsurance renewals and an overall average P/C price increase of 4.9%. SCOR said the 19% premium growth figure includes a large structured...
