Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Construction Industry Hammers Away Amid Labor Woes, Rising Costs, Delays, Tough Insurance Market
Jun 21 2021 // It is not the best of times for the construction industry and its insurers. But neither is it the worst of times. The construction industry continues to face labor shortages, rising costs, supply chain woes and lingering...
Grim California Wildfire Outlook Has Insurers Forking Over Big Bucks for Modeling
Jun 18 2021 // Severe drought and searing temperatures are not the only proof that Californians should be worried about wildfires this year. A glaring piece of evidence that there’s ample cause for concern is this: those who will...
Studies Find Crash Rates Rise When States Legalize Marijuana; Suggest Link to Alcohol
Jun 17 2021 // Researchers report increasing evidence is that motor vehicle crash rates rise when states legalize recreational use and retail sales of marijuana, although what effects marijuana by itself has on drivers remains...
Increase in Homeowners Claims Spurs Higher Insurance Prices in Missouri
Jun 15 2021 // Severe weather trends and an increase in claims are impacting the price of homeowners insurance in Missouri, regulators say. A recent report issued by the Missouri Department of Commerce and Insurance shows that homeowners...
Insurance Implications of Rising Building Costs
Jun 14 2021 // This post is part of a series sponsored by The Hanover Insurance Group. The rising cost of building materials is quickly outpacing inflation rates, and the high demand for qualified workers and widespread global supply...
JBS Swift to Pay Up to $5.5M to Settle Race, Religious Discrimination Claim at Colorado Plant
Jun 14 2021 // An international meat processing giant has agreed to settle claims that it discriminated against employees based on race, national origin, and religion at the company’s facility in Greeley, Colorado, the U.S. Equal...
Uptick in Texas Workers’ Comp Claims Ends 20-Year Downward Trend
Jun 9 2021 // Despite the economic slowdown resulting from the COVID-19 business closures, the total number of workers’ compensation claims reported to the Texas Division of Workers’ Compensation rose in 2020 by 34% compared...
Failure of Many ‘Zombie’ Companies Likely to Keep Insurance Rates Rising: Swiss Re
Jun 8 2021 // The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy is among the major concerns prompting insurers to reduce risk and charge higher premiums, a trend likely...
Florida’s Altmaier Sees His State’s Private Flood Insurance Market Helping Others
Jun 7 2021 // Powered by InsuranceJournal.tv Florida has 90,000 private flood insurance policies in force now– a 300% increase since passing legislation to encourage private insurers to offer the coverage in 2014, according to...
AM Best: Outlooks Revised to Negative for Southern Vanguard Insurance
Jun 4 2021 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Texas-based property/casualty...
Insurers Must Totally Reassess Approach to ‘Grim’ Cyber Insurance Market: AM Best
Jun 4 2021 // With the cyber risk hazard environment—ransomware, business interruption and aggregation—worsening significantly, “prospects for the U.S. cyber insurance market are grim,” according to an AM Best...
AM Best Revises Outlooks to Negative for Members of NLC Insurance Companies Pool
Jun 4 2021 // AM Best has revised the outlooks to negative from stable and affirmed the financial strength rating of A- (excellent) and the long-term issuer credit ratings of “a-” (excellent) of New London County Mutual...
Chasing Yield, Private Equity Firms Nudge Up Risk on Insurers: Analysis
Jun 2 2021 // Private equity firms have spent nearly $40 billion buying U.S. insurance companies in recent years, promising to earn higher returns on the mountains of money that insurers set aside to pay policyholders years or decades...
AM Best Revises Outlooks to Positive for Anchor General in California
May 27 2021 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Ratings of “bb+” (Fair) of Anchor General Insurance Co. in San...
State Police: Traffic Crash Fatalities in Michigan Up in 2020
May 27 2021 // Nearly 100 more people died in traffic crashes in Michigan last year than in 2019, according to preliminary data released by the state police. The state police Criminal Justice Information Center said on May 26 that 1,083...
AM Best: Florida’s Property Insurance Market Hit 5-Year Financial Low in 2020
May 27 2021 // AM Best’s composite of Florida property insurance companies hit five-year performance and surplus lows in 2020, and given persisting and significant market hurdles, companies will find sustaining current surplus...
Fire Site in UP Michigan Town Being Treated as a Crime Scene
May 25 2021 // State and federal authorities are pitching in as investigators try to determine the cause of a fire that destroyed three buildings in the historic downtown of an Upper Peninsula village. Investigators in Calumet were...
AM Best Revises Outlook to Stable for Topa in California
May 21 2021 // AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Topa Insurance Co. in...
Europe’s Aviation Regulator Says Flying Taxis Could Be Airborne by 2024 or 2025
May 21 2021 // PARIS – Europe could see the first flying taxis enter service as early as 2024, the region’s top aviation regulator said on Wednesday. More than half a dozen European firms have announced developments of Urban Air...
Outlooks Revised to Positive for Workers’ Comp Insurer Stonetrust
May 20 2021 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Stonetrust Commercial Insurance Co....
