Trending Trends Headlines
The most viewed headlines from our Trends Topic Page over the last 30 days.
#1 US Nuclear Verdicts Break Records and Drive Social Inflation to 7% in 2023: Report
Sep 11 2024 // Nuclear verdicts in the United States are breaking records with 27 court cases each awarding compensation of more than US$100 million during 2023, according to Swiss Re executives. Social inflation in US rose to 7% in 2023...
#2 Reinsurance Outlook to ‘Neutral’; US to Push for Double-Digit Casualty Increases
Sep 16 2024 // Fitch Ratings said reinsurers are likely to push for double-digit U.S. casualty rate increases during January renewals to keep up with loss trends from social inflation. The rating agency in a new report changed its...
#3 Property Drives E&S Growth of 15% in 2023 to Increase Overall P/C Share
Sep 12 2024 // For the sixth straight year, U.S. excess and surplus insurers in 2023 saw double-digit growth in direct written premiums. E&S direct written premiums (DWP) grew 15% last year to increase its share of the total...
#4 Moody’s, Amwins Expect Continued Cyber Market Growth
Sep 12 2024 // Two organizations recently expressed optimism that the softening cyber market that emerged in 2023 will remain favorable into the future. In separate reports, Moody’s Ratings and Amwins Brokerage offered insights on...
#5 D&O Market in ‘State of Transition’ on Litigation Trends: Woodruff Sawyer
Sep 16 2024 // It looks like the market for directors and officers insurance is shifting, according to Woodruff Sawyer, with the number of renewals seeing flat or price increases for the first time in 18 months. Though 83% of its clients...
#6 AM Best Revises Outlook for Missouri Farm Bureau Group
Aug 22 2024 // 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 ICRs) of “a-” (Excellent) of Farm...
#7 NCCI Calls For Tiny Workers’ Comp Rate Decrease for Florida After New Doctor Fees
Sep 4 2024 // Annual workers’ compensation rate cuts in the double digits have become routine in almost every U.S. state in recent years. That trend may have now come to an end in Florida, where the National Council on...
#8 VW Scraps Three-Decades-Old German Jobs Pledge to Cut Costs
Sep 10 2024 // Volkswagen AG is ending job protections for auto workers in Germany as part of its cost-cutting push, setting up a showdown with unions as the country’s most important industry fights for its future. The manufacturer...
#9 WV Volunteer Fire Official Pleads to Insurance Fraud After Burning Down His Home
Aug 23 2024 // A former West Virginia volunteer fire official is awaiting sentencing after he admitted to setting fire to his home, filing an insurance claim, and using the fire department’s credit card for personal gain. Donald A....
#10 AM Best Revises Outlook to Negative for Ohio’s Buckeye State Mutual
Aug 28 2024 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Buckeye State Mutual Insurance Company...
#11 Hurricane Debby Claims Already Two-Thirds of Idalia Claims in Florida, as Insurance Market Strengthens, Regulator Says
Sep 2 2024 // The number of Florida claims from Hurricane Debby, filed within 10 days of the storm, stood at almost two-thirds of the number of claims filed from Hurricane Idalia in a three-month period. Debby claims by Aug. 16 had...
#12 New Hampshire Approves 5.6% Workers’ Compensation Loss Cost Decrease for 2025
Sep 6 2024 // The New Hampshire Insurance Department (NHID) reports that it has approved a workers’ compensation rate proposal that will reduce voluntary loss costs by 5.6% on average. The new lower rates will apply to voluntary...
#13 UK Tones Down Worker ‘Right to Switch Off’ Demands on Firms
Aug 28 2024 // Britain’s Labour government is watering down ambitions to give employees a legal right to ignore work demands outside office hours, favoring softer rules that had limited impact for workers in Ireland. Rather than...
#14 Update: Flood Death Toll Rises as Europe Counts Cost of Storm Boris
Sep 16 2024 // Floods ripped through central Europe killing at least 17 people, as governments across the region took emergency measures and prepared to spend hundreds of millions of euros on the cleanup. Flows in the Danube —...
#15 Lithium Startups Bet on High Demand in Battery-Powered Future
Aug 30 2024 // As the world leans into electrification, it will need more lithium. A key ingredient in the batteries that power everything from electric vehicles to cell phones, demand is projected to accelerate over the next decade. To...
#16 TDI to Hold Two Public Meetings on TWIA’s Filing of 10% Rate Increase
Aug 30 2024 // The Texas Department of Insurance will hold two public meetings in September on the Texas Windstorm Insurance Association’s annual rate filing increase of 10% for residential and commercial properties. TDI will host...
#17 Fitch Ratings Shifts Global Re Outlook to Neutral; Pricing Past Peak
Sep 6 2024 // Fitch Ratings announced that it shifted its outlook on the global reinsurance sector to neutral yesterday but the downward shift came with an expectation of continued profitability—and a forecasted combined ratio around...
#18 Network Growth in Hard Market
Sep 2 2024 // For more than a decade, Insurance Journal has recognized some of the nation’s largest agency partnerships and networks in its annual Top 20 ranking. In 2014, Insurance Journal’s Top 20 Agency Partnerships...
#19 Germany Cracks Down on China Green Fraud in Deepening Scandal
Sep 6 2024 // German authorities have rejected €18 million ($20 million) worth of carbon credits after finding “irregularities” in China-based projects that were meant to lower emissions. The initiatives, which were run by...
#20 Canada’s Insurance Sector Faces Deluge of Climate-Related Catastrophe Claims
Sep 3 2024 // Hotter summers in Canada that have sparked wildfires in tourist areas, intense hailstorms and thunderstorms with severe flooding in major cities, all likely linked to climate change, are leading to personnel shortages and...
