Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
5% Rate Increase Recommended for Texas Windstorm Insurer
Jul 22 2021 // The Actuarial & Underwriting Committee for the Texas Windstorm Insurance Association (TWIA) has recommended that the association’s board vote at its Aug. 3 meeting to file for a 5% rate increase for residential...
5.44% Workers’ Comp Rate Decrease Approved in Wisconsin
Jul 22 2021 // Wisconsin Insurance Commissioner Mark Afable has approved an overall 5.44 percent decrease in worker’s compensation insurance rates, effective Oct. 1, 2021. This is the sixth straight year of rate decreases in...
Germany’s Floods Will See ‘Sizable’ Protection Gap. Could Insurance Demand Increase?
Jul 22 2021 // With an insured price tag of €4 billion to €5 billion (US$4.7 billion to $5.9 billion), economic losses from Germany’s recent floods are likely to be significantly higher, which highlights a sizable insurance...
California Workers’ Comp Report: Private Self-Insured Indemnity Claim Frequency, Paid & Incurred Losses Spiked in 2020
Jul 21 2021 // Workers’ comp claim frequency among California’s private self-insured employers rose in 2020, fueled by a big increase in the incidence of indemnity claims, offsetting a decline in medical-only claim frequency,...
Credit Rating Outlook Changed to Negative for Missouri’s Cameron Mutual Insurance
Jul 21 2021 // AM Best revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICR of “bb+” (Fair) of...
UK’s Q2 Auto Insurance Premiums Drop to Lowest Level Since Early 2016: Survey
Jul 21 2021 // The cost of a comprehensive car insurance policy in Britain fell 12% in the second quarter to its lowest level since early 2016 due to COVID-19 lockdowns, although it might rebound to pre-pandemic levels as restrictions...
Surplus Lines Insurers Report 21.9% Premium Hike in First Half of 2021
Jul 20 2021 // Surplus lines premium exceeded $24 billion and premium bearing transactions exceeded 2.6 million through the first six months of 2021, according to the 2021 Midyear Report of the U.S. Surplus Lines Service and Stamping...
P/C Agency Mergers Rise 10% in First Half of 2021: OPTIS Partners
Jul 19 2021 // There were 339 announced property/casualty insurance agency mergers and acquisitions during the first half of 2021, up from 307 in 2020. According to OPTIS Partners’ M&A report, it was the highest recorded total...
The Safe Bet: Comparing the Admitted vs. Non-Admitted Insurance Markets
Jul 19 2021 // Why would anyone in their right mind choose an insurance market with no state guaranty fund protection? What makes the excess and surplus lines non-admitted insurance market a viable option? Well, I will tell you why I...
Florida’s Citizens Insurance Seeks Rate Increase as Policy Count Skyrockets
Jul 15 2021 // The Citizens Property Insurance Corporation’s Board of Governors approved rate adjustments that will raise average premiums by an additional 2.3% in February 2022. The board for the state-backed insurer unanimously...
‘Sunny Day’ Floods Will Increasingly Inundate U.S. Coasts as Sea Levels Rise: NOAA
Jul 15 2021 // Record high-tide flooding washed over U.S. coasts in the past year, and rising sea levels are expected to send the deluges into streets, homes and businesses even more frequently over the next decade, the National Oceanic...
Coalition Enters Canadian Excess Cyber Insurance Market
Jul 15 2021 // Coalition, the San Francisco-based cyber insurance and security company, announced it will enter the excess cyber insurance market in Canada to help protect businesses with enhanced coverage. With the coverage, Coalition...
How Transportation Could Be Safer, Cleaner and Cost Efficient by 2050
Jul 13 2021 // A Cornell University-led research team has calculated that by the year 2050, vehicle electrification, driverless cars and ride sharing could prevent 5,500 premature deaths and save $58 billion annually, while...
Rising COVID Outbreaks on Ships Endanger Maritime Workers, Risk Trade Disruptions
Jul 13 2021 // Global vaccinations of seafarers are going too slowly to prevent outbreaks on ships from causing more trade disruptions, endangering maritime workers and potentially slowing economies trying to pull out of pandemic...
Consilium Unveils Delegated Underwriting Authority Services for Re/Insurance Market
Jul 9 2021 // Consilium, the London-based insurance and reinsurance broker, part of the Aventum Group, has unveiled “Exponential,” a new global delegated underwriting authority (DUA) service for coverholders, which aims to...
P/C Agency Mergers Rise 10% in First Half of 2021: OPTIS Partners
Jul 9 2021 // There were 339 announced property/casualty insurance agency mergers and acquisitions during the first half of 2021, up from 307 in 2020. According to OPTIS Partners’ M&A report, It was the highest recorded total...
Takeaways from a Cannabis Half-Year Outlook Conversation
Jul 6 2021 // Powered by InsuranceJournal.tv After hitting the halfway mark on the year and as we emerge from the pandemic, one has to wonder what the rest of the year will be like for cannabis businesses and those who work to insure...
Grim California Wildfire Outlook Has Insurers Forking Over Big Bucks for Modeling
Jul 5 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...
The Future of Insurance Agency Work
Jul 5 2021 // There is no shortage of articles opining on the future of work after COVID-19, all seeming to believe that virtual work in one form or another is here to stay. I agree. But I also believe the issue is not whether we will...
Researchers Use Drones to Help Forecast Fires as Wildfires Hit Western U.S.
Jul 1 2021 // In a grassy meadow outside Missoula, Montana, Jennifer Fowler eyes two drones high in the sky with weather instruments — part of a program to see how drones can help to fight and monitor wildfires. Missoula is a...
