Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Munich Re’s Q2 Profit Rises 91%, While COVID-19 Losses Outpace Expectations
Aug 10 2021 // German reinsurance group Munich Re said on Tuesday it would meet its 2021 profit goal as it raised its forecast for gross premiums and predicted higher pandemic-related losses than previously anticipated. Munich Re made...
Once-in-50-Year Heat Waves Now Happening Every Decade: U.N. Climate Report
Aug 10 2021 // Extreme heat waves that previously only struck once every 50 years are now expected to happen once per decade because of global warming, while downpours and droughts have also become more frequent, a U.N. climate science...
TWIA to File for Rate Increase; TDI Proposes Member Assessment Rule Change
Aug 6 2021 // The property insurer of last resort for wind and hail in counties along the Texas coast will file for a 5% rate hike for both residential and commercial properties in its required annual filing with the Texas Department of...
Progressive Insurance Hurt by Rise in Auto Claims, Low Premiums in Q2
Aug 6 2021 // Progressive Corp. reported a 56% decrease in net income to $790.1 million for the second quarter. Net income was down 9% for the first six months. The company said the largest contributor to the year-over-year decreases...
Fatal Overdoses in Kentucky Grew 49% in 2020
Aug 6 2021 // Fatal drug overdoses in Kentucky _ an ongoing scourge that has ravaged communities in the state _ surged nearly 50% last year and isolation caused by the COVID-19 pandemic was a “major contributing factor,” a...
Allianz Posts 46% Jump in Q2 Profit, with Rosy Outlook Expected
Aug 6 2021 // FRANKFURT – German insurer Allianz on Friday posted a better-than-expected 46% jump in second-quarter net profit and provided a rosier outlook for the full year as it emerges from pressure on business caused by the...
U.S. West Consumer Survey: 4-in-10 Policyholders Don’t Talk to Insurer About Wildfire Risks
Aug 5 2021 // Most residents of the wildfire-plagued Western U.S. believe in mitigation efforts, but fewer are actually taking such steps – while more than 40% have never spoken to their insurer about wildfire risk, according to a...
Atlantic Hurricane Forecast Still Calls for an Above-Average Season
Aug 4 2021 // Conditions remain in line for the current Atlantic hurricane season to be an above-average one, according to the mid-season update by NOAA’s Climate Prediction Center. NOAA says there is a 65% likelihood that the...
California Workers’ Comp Written Premium Down 13%, Report Shows
Aug 4 2021 // California workers’ compensation written premium for the first quarter of 2021 was 13% below that for the first quarter of 2020, according to a quarterly experience report issued on Wednesday by the Workers’...
Houston’s CrossCover Enters E&S Property Insurance Market
Aug 3 2021 // Houston-based CrossCover Insurance Services, a new managing general underwriter targeting middle-market commercial business, is entering the excess and surplus property market. CrossCover was established in partnership...
AM Best Assigns Credit Ratings, Stable Outlook to Workers’ Comp Writer SUNZ
Aug 3 2021 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to SUNZ Insurance Co. of Bradenton, Florida. The outlook assigned to these Credit...
Generali’s Operating Profit Increases 10.4% During First Half
Aug 3 2021 // Generali on Tuesday said it was on track to meet full-year targets after Italy’s top insurer reported a good performance across all business sectors to slightly beat first-half expectations. Operating profit rose...
Texas Surplus Lines Premiums Rise to $947.48M, an All-Time High
Aug 2 2021 // Texas set another record in June for the amount of surplus lines premium recorded by the Surplus Lines Stamping Office of Texas (SLTX). The $947.48 million in premium reported in June brings the year-to-date total to $4.58...
Aon’s Price Tag for Scrapped Deal to Buy Willis Rises to $1.4B
Aug 2 2021 // Insurance broker Aon Plc said on Friday it could have to expend up to $400 million in additional costs tied to the termination of its mega merger deal with Willis Towers Watson, over and above the $1 billion it was...
5.44% Workers’ Comp Rate Decrease OK’d in Wisconsin
Aug 2 2021 // Wisconsin Insurance Commissioner Mark Afable approved an overall 5.44% decrease in workers’ compensation insurance rates, effective Oct. 1, 2021. It’s the sixth straight year of rate decreases in Wisconsin,...
University Study Poses Possible Future for Western Wildfires as a Decade-Long Burst, Followed by Gradual Decline
Jul 28 2021 // Newswise — In recent years, wildfires on the West Coast have become larger and more damaging. A combination of almost a century of fire suppression and hotter and drier conditions has created a tinderbox ready to ignite,...
Update: Aon and Willis Terminate $30B Merger; Aon to Pay $1B Break-up Fee
Jul 26 2021 // Aon plc and Willis Towers Watson announced that the firms have agreed to terminate their $30 billion business combination agreement and end litigation with the U.S. Department of Justice (DOJ). The proposed combination was...
Pennsylvania Joining National Survey on Climate Risk in the Insurance Industry
Jul 23 2021 // The Pennsylvania Insurance Department (PID) is joining with other states around the country in conducting the National Association of Insurance Commissioners’ (NAIC) Climate Risk Disclosure Survey. The survey allows...
London Staff Want Big Pay Raises Before Returning to Their Desks Full-Time: Survey
Jul 23 2021 // London office workers want an average pay rise equivalent to the cost of some annual railway season tickets to return to their desks full-time after the pandemic, according to a survey. With COVID-19 restrictions leaving...
Hippo Enters Commercial Insurance Market With Homeowners Association Product
Jul 23 2021 // Home insurtech Hippo is jumping into the commercial insurance market. The California-based managing general agency startup said its expansion will focus on “targeted commercial insurance” customers. Its first...
