Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Florida’s Property Insurance Market Is ‘Spiraling Towards Collapse’ Due to Litigation: Report
Jan 20 2021 // Florida’s property insurance market is “spiraling towards collapse” and requires immediate attention if there is any chance of protecting the market, consumers, and ultimately, the state’s economy,...
Future of Russia’s Nord Stream 2 Pipeline Looks Increasingly Uncertain
Jan 20 2021 // The future of Nord Stream 2 looks increasingly uncertain as the U.S. ramped up pressure on the project with new sanctions, and companies walked away from the controversial Russian gas link. The new sanctions come just days...
Tennessee Touts 2020 Growth of Insurance Industry, Consumer Efforts
Jan 20 2021 // The Tennessee Department of Commerce & Insurance (TDCI) has located and returned more than $22.8 million to Tennesseans in combinedlife insurance benefits/annuities and monies through its mediation efforts in...
AM Best, Moody’s Rate Personal Lines Insurance Market Outlook as Stable
Jan 19 2021 // AM Best kept its stable market segment outlook on the U.S. personal lines insurance segment for 2021, citing the segment’s strong risk-adjusted capitalization and profitable underwriting performance in private...
Zero Fire Deaths in 2020 in Savannah, Georgia for First Time in a Decade
Jan 12 2021 // Authorities in Georgia’s oldest city say they saw no deaths from fires in 2020, the first time that’s happened in a decade. The Savannah Fire Department said in a news release it responded to 920 fires last...
Rates, Retentions Up in Employment Practices Liability Market: Report
Jan 11 2021 // In its annual survey of the employment practices liability insurance (EPLI) market, The Betterley Report found that rates are continuing their trend upward, in part because commercial rates in general are on the rise but...
Midwest Economy Improving but Businesses Less Optimistic, Survey Finds
Jan 8 2021 // The economy continues improving in nine Midwest and Plains states but business leaders are less optimistic after the latest surge in coronavirus cases in the region, according to a new monthly survey released on Jan....
COVID Lawsuits by State and Key Trends in Workplace Litigation for 2021: Seyfarth
Jan 7 2021 // The coronavirus pandemic contributed to a spike in workplace lawsuits in 2020 and the number is only expected to grow in 2021, according to legal experts. At the same time, the incoming Biden Administration is expected to...
Aviation Reinsurance Rates Rise by as Much as 250% in January Renewals: Willis Re
Jan 4 2021 // Aviation reinsurance rates rose by up to 250% at the key Jan. 1 renewal date, broker Willis Re said in a report on Monday, with the market still reeling from the impact of Boeing 737 MAX crashes two years ago. The 737 MAX...
Texas Surplus Lines Stamping Office: Fee Decreases on Jan. 1, 2021
Dec 23 2020 // The Surplus Lines Stamping Office of Texas (SLTX) is reminding wholesale agents and brokers that the stamping fee for recording surplus lines insurance policies in Texas will be lower beginning on Jan. 1, 2021. The...
Workplace Fatalities Increased By 25% in Texas in 2019
Dec 22 2020 // The number of work-related fatalities in Texas rose by 25% in 2019. A report on fatal occupational injuries in 2019 released by the Texas Department of Insurance, Division of Workers’ Compensation (DWC) shows there...
California COVID-19 Workers’ Comp Claim Volume Trending up Again
Dec 22 2020 // California workers’ comp COVID-19 monthly claim volume, which fell sharply in August and September, is now trending up again, climbing 9.0% in October, then more than doubling in November, according to a California...
New Group Launched for Senior Claims Managers in London Insurance Market
Dec 22 2020 // A new group for senior claims managers in the London insurance market has been established by the International Underwriting Association (IUA). The Claims Strategy Committee will oversee and coordinate all claims-related...
Louisiana Private Employer Work Injuries, Illnesses Down Slightly in 2019
Dec 21 2020 // Recent Bureau of Labor Statistics (BLS) data show the incidence rate of work-related injuries and illnesses among Louisiana’s private sector employers was 1.7 incidents per 100 full-time equivalent (FTE) workers in...
Files Raise Questions About Purdue Pharma Family’s Transfer of $10B Over Decade
Dec 21 2020 // Members of the wealthy Sackler family, owners of OxyContin maker Purdue Pharma LP, have long denied that the $10 billion they transferred from their company over the course of a decade was an unlawful attempt to shield...
Outlooks Revised to Negative for Iowa’s United Fire Group, Property/Casualty Subs
Dec 21 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the property/casualty...
U.S. Commercial Insurance Rates Rise Again Q3; Showing Signs of Stability
Dec 21 2020 // For the second quarter in a row, U.S. commercial lines insurers enjoyed average rate hikes that neared 10% but the rocket ship rate hike trend might be moderating. “While commercial insurance prices continued to rise...
COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best
Dec 21 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...
Record Return of Merger Activity Leads to Massive Growth in M&A Insurance Market
Dec 21 2020 // 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 officials...
The Gig Economy’s Auto Insurance Market and Surplus Lines
Dec 21 2020 // Automobile insurance looks very different today than it did a generation ago. The means by which people (and goods) travel via motor vehicles continue to expand and evolve, as do businesses and their automobile insurance...
