Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Bayer Agrees to Delay Future Claims Portion of Proposed Roundup Settlement
Jul 8 2020 // Bayer said it had agreed to delay a proposed settlement to deal with future claims relating to allegations that its widely used weedkiller Roundup caused cancer after a U.S. judge questioned the plan. The German company...
Insurance Costs Rising for Cannabis Firms as Unhappy Investors File Slew of Lawsuits
Jul 8 2020 // Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and...
Lloyd’s Market Assn. Launches Delegated Authority Group to Set Future Business Model
Jul 8 2020 // The Lloyd’s Market Association (LMA) has launched a Delegated Authority Committee (DAC) to inform and guide the evolution of this important aspect of Lloyd’s underwriting, distribution and claims. Delegated...
Insurance Fraud Investigators Ramp Up During Reopening, Even as Claims Volumes Drop
Jul 7 2020 // Fraud inevitably rises after natural disasters and during economic downturns. The COVID-19 pandemic has brought both conditions to the entire globe at once. Fraud-prevention advocates have long been warning about the...
Judge ‘Inclined to Deny’ Part of Bayer Roundup Settlement on Future Claims
Jul 7 2020 // Bayer shares fell more 6% on Tuesday after a U.S. judge questioned part of the German company’s proposed settlement to deal with future claims relating to allegations that its widely used weedkiller Roundup caused...
Nored to Lead New Texas Health Insurance Market Monitoring Team
Jul 6 2020 // A new team at the Texas Department of Insurance has been established to identify and quickly resolve issues involving health insurers in the state. Michael Nored, previously special counsel to the commissioner, was tapped...
State Farm to Further Decrease Auto Insurance Rates in Louisiana
Jul 6 2020 // State Farm Insurance Co. has been approved for an overall auto insurance rate decrease of 9.6% in Louisiana, the state insurance department reported. State Farm’s rate reduction most recently approved by Louisiana...
Understanding Risk in a Decade of Natural Catastrophes
Jul 6 2020 // In the past 10 years, the U.S. has seen 121 events produce damage in excess of $1 billion. Globally, this escalates with many more events around the world. From major hurricanes and floods, to annual severe weather,...
Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jul 6 2020 // The U.S. commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
California Workers’ Comp Direct Written Premium Continued to Fall Last Year, Report Shows
Jul 6 2020 // California workers’ compensation total direct written premium continued to decline in 2019, falling 7.0% to a five-year low of $11.42 billion, as nine out of the state’s 10 largest insurer groups wrote less...
Another One Down: Austin City Limits Music Fest Canceled Amid Virus Surge
Jul 2 2020 // Austin City Limits has joined the ranks of major music festivals to be canceled because of the coronavirus. Festival organizers said in a statement on July 1 that scrapping the three-day October event was “the only...
Insurance Startup Lemonade Increases Target Price Range for IPO
Jul 1 2020 // SoftBank Group Corp.-backed insurance startup Lemonade Inc on Wednesday increased the target range for its U.S. initial public offering, looking to raise up to $308 million at a market capitalization of $1.54 billion. The...
Exclusive Coronavirus Survey: P/C Insurance Return to ‘Normal’ Office May Take Time
Jul 1 2020 // Many property/casualty insurance professionals, most of whom have been working at home during the pandemic, may need some convincing not only to return to an office anytime soon but also to engage in typical business...
U.S. Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jun 30 2020 // The U.S.commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
Australia to Spend Nearly $1 Billion on Cyber Security During Next Decade
Jun 30 2020 // SYDNEY – Australia will spend A$1.35 billion ($926.1 million) over the next 10 years to boost its cyber security defenses, Prime Minister Scott Morrison said on Tuesday, as Canberra seeks to combat a wave of attacks. The...
Municipal Bond Insurance Industry Busier Than Ever After Decade-Long Slump
Jun 26 2020 // As the coronavirus pandemic rips through the finances of state and local governments, municipal-bond insurers are busier than they’ve been in years. Since early May, about 10% of new bond sales have been offered with...
Outlook for Texas’ MGA Insurance Issuer Credit Rating Revised to Positive
Jun 25 2020 // AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” of...
Bayer Gambles on Science to Let It Keep Selling Roundup, Mitigate Future Claims
Jun 25 2020 // FRANKFURT/NEW YORK— Seeking to forestall further claims, Bayer AG is taking a risky bet that an independent scientific review will ultimately show that its widely used weed killer Roundup does not cause cancer, legal...
The Future of Work in America Is in the Office: Opinion
Jun 25 2020 // Ever since the coronavirus sent millions of people home to work, people have been predicting that remote work will endure after the pandemic is over. Color me skeptical. I can’t imagine everyone not wanting to race...
COVID-19 Could Rank Among Re/Insurance Sector’s Most Expensive Events: Carpenter
Jun 25 2020 // Although considerable uncertainty remains over its ultimate cost, the COVID-19 pandemic looks set to rank among the re/insurance sector’s most expensive events, according to a report published by reinsurance broker...
