Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Most Homeowners Underinsured for Trends in Inflation, Building Costs: APCIA
May 6 2022 // A new American Property Casualty Insurance Association (APCIA) survey of over 1,000 U.S. homeowners who have a homeowners insurance policy, reveals a majority of insured homeowners have not taken important steps to ensure...
Report: Wisconsin Refinery Knew About Issues Before 2018 Blast
May 5 2022 // Officials at a northwestern Wisconsin oil refinery knew about equipment issues years before a 2018 explosion there, according to Occupational Safety and Health Administration documents obtained by Wisconsin Public...
EU Regulator Warns of Increased Risk to Airlines as Result of Ukraine War
May 5 2022 // The European Union’s Aviation Safety Agency (EASA) regulator warned on Thursday of increased risks to airlines due to the war in Ukraine, such as civil planes being accidentally targeted as well as an increased risk...
Report Forecasts ‘Above-Normal’ U.S. Wildfire Season, Worse in Drought-Plagued West
May 4 2022 // The U.S. has in store an “above-normal” wildfire season if a prediction out on Wednesday from fire weather experts holds true – “intense” may be a better word for the expectations in Western...
U.S. SEC Ramps Up Crypto Fraud Oversight by Adding 20 Employees
May 3 2022 // The U.S. Securities and Exchange Commission (SEC) said on Tuesday it will add 20 positions to its enforcement unit for crypto markets in its push to curb fraudulent activities in the hot digital space. The securities...
Net Zero Business Opportunities Could Double Size of London Insurance Market: LIIBA
May 3 2022 // The business opportunities provided by the global transition to net zero is potentially large enough to double the size of the London insurance market, according to the London and International Insurance Brokers’...
Cyber Premiums Rapidly Grew 74% in 2021: Fitch
May 2 2022 // According to estimates by Fitch Ratings, direct written premiums (DWP) for standalone and packaged cyber insurance increased 74% to nearly $5 billion in 2021 compared with overall growth for the property casualty industry...
Malpractice Insurance Premiums Increased 22%, Despite Fewer Claims
May 2 2022 // The number of malpractice claims filed against hospitals and physicians dropped 14% in 2020, even as premiums rose 22% on average, according to the most recent report by the American Society for Health Care Risk Management...
Allstate to Increase Magnitude of Auto Rate Hikes in 2022
May 2 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...
Workers’ Comp: A Shining Star in the P/C Sky, But the Future Is Less Bright as Workforce Changes
May 2 2022 // Workers’ compensation continues to be the shining star in the property/casualty insurance market. Despite a 9% decline in direct premiums written to $44.3 billion, and a combined ratio in 2020 (91.1%) that was just a...
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...
