Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Outlooks Revised to Negative for Members of Chicago’s ISMIE Mutual Group
Dec 11 2020 // 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-” of Chicago-based ISMIE Mutual Insurance Co....
Record Return of Merger Activity Leads to Massive Growth in M&A Insurance Market
Dec 11 2020 // LONDON – A record rebound in merger activity this year and a rise in litigation has brought with it an upsurge in insurance policies that give companies and private equity firms cover for when a deal goes wrong, industry...
COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best
Dec 11 2020 // U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised its outlook for the...
28% of Michigan Small-to Mid-Sized Business Leaders Satisfied with Economy: Survey
Dec 9 2020 // A survey funded by the by Accident Fund Insurance Company of America and the Michigan Business Network shows that most leaders of small-to mid-sized businesses in the state continue to be wary about the economy. The latest...
Florida Approves 6.6% Rate Decrease to Workers’ Comp Rates
Dec 9 2020 // Florida Insurance Commissioner David Altmaier has issued a final order approving the National Council on Compensation Insurance (NCCI)’s filing for a statewide overall decrease of 6.6% for Florida workers’...
U.S. Commercial Insurance Rates Rise Again in Q3 But Show Signs of Stabilizing
Dec 8 2020 // For the second quarter in a row, U.S. commercial lines insurers enjoyed average rate hikes that neared 10 percent but the rocket ship rate hike trend might be moderating “While commercial insurance prices continued...
Global Reinsurance Sector Receives ‘Stable’ Market Outlook as Rates Keep Hardening
Dec 8 2020 // The outlook of the global reinsurance sector is “stable,” which is mainly a reflection of hardening pricing conditions and tighter terms and conditions, according to AM Best and Fitch Ratings in two reports. AM...
Canada Must Address Rising Costs of Natural Disasters, Says Research Group
Dec 8 2020 // Canada should accelerate measures, including financing mechanisms, to help governments, companies and individuals prepare for the rising costs of weather-related disasters, according to a research institute. The cost of...
Slick Sidewalks, Protective Pets Among Injury Trends for Amazon Delivery Partners in Colorado
Dec 7 2020 // Coloradans like residents of other states have seen an increase in delivery vehicles as many households shifted to ordering more online amid the pandemice. Colorado workers’ compensation insurer Pinnacol Assurance...
Momentum Is Building for Pre-Flight COVID-19 Airport Testing
Dec 4 2020 // Even as the race to approve and distribute COVID-19 vaccines is entering its final stretch, parts of the travel industry are sprinting to a different finish line: airport testing. In hubs large and small, from JFK to...
Workers’ Comp Loss Cost Decrease of 9.2% Approved in Tennessee
Dec 3 2020 // Workers’ compensation rates in Tennessee are expected to decrease next year after a 9.2% overall loss cost decrease was approved. Tennessee Department of Commerce & Insurance Commissioner Carter Lawrence approved...
Outlooks Revised to Positive for Bremen Farmers Mutual Insurance in Kansas
Dec 1 2020 // 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 Rating (Long-Term ICR) of “bbb+” of Bremen Farmers Mutual...
An Emerging Risk of COVID-19 Pandemic: Rusty Pilots Making Flying Errors
Dec 1 2020 // On Sept. 15, an Indonesian flight carrying 307 passengers and 11 crew to the northern city of Medan momentarily veered off the runway after landing, sparking an investigation by the country’s transport safety...
D.C. Postpones All P/C Insurance Rate Increases During COVID Crisis
Dec 1 2020 // The Washington D.C. Department of Insurance, Securities and Banking (DISB) issued a new insurance bulletin to notify all property and casualty insurers that for the duration of the coronavirus pandemic, all filed rate...
No Increase in Average Washington Workers’ Comp in 2021
Nov 30 2020 // For the first time in two decades, Washington workers’ compensation rates have dropped or stayed steady for four years in a row. The state Department of Labor & Industries on Monday announced there will be no...
PrimeOne Insurance Co. in Utah Has Ratings Outlooks Revised to Stable
Nov 25 2020 // AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of PrimeOne Insurance Co. in Salt Lake City,...
Minnesota Fraud Bureau: Insurance Fraud Referrals Up in 2019 but not for Agents
Nov 24 2020 // While Minnesota insurance regulators saw an uptick in the number of fraud case referrals during 2019, agent and broker fraud referrals were down significantly that year, the most recent for which insurance fraud statistics...
What Congress Should Do, or Not Do, to Rescue Businesses in Future Pandemics
Nov 20 2020 // Congress is weighing whether insurers and government can together “bend pandemic risk curves” for future events or simply replace some of the economic losses of businesses, putting them “into induced...
Kentucky AGC Self-Insurers’ Fund to Return $18.5M In Dividends, Decrease Rates
Nov 20 2020 // The Kentucky Associated General Contractors Self-Insurers’ Fund, a workers’ compensation insurance provider in the state of Kentucky, will return more than $18.5 million, including special fund tax...
Pace of Broker Acquisitions Picks Up in 2nd Half, After COVID-Linked Lull in Q2
Nov 19 2020 // Insurance brokers have stepped up their acquisition pace in the second half of 2020 after a pause in the second quarter related to the coronavirus and the steep economic decline, according to a report published by...
