Most Popular Trends Headlines This Year
The most viewed headlines from our Trends Topic Page over the last year.
#1 Massive Citizens Takeout Plan Seen as Sign That Things Are Looking Up in Florida Market
Aug 7 2023 // Stakeholders near and far are hailing a near-record number of takeouts from Citizens’ Property Insurance Corp. as a sign that the troubled Florida insurance market is improving, even if it will likely mean higher...
#2 The Future of Insurance Agencies
Mar 18 2024 // There is a traditional proclamation made following the accession of a new monarch in various countries that simultaneously announces the death of the previous monarch and asserts continuity by saluting the new monarch....
#3 Allstate Reports $276M in January Cat Losses, Updates Rate Increases
Feb 15 2024 // Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million. The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low...
#4 AM Best Tweaks State Farm Outlook to Negative After Weather, Regulatory Issues
Sep 25 2023 // The AM Best financial rating firm has downgraded its outlook for multiple State Farm insurance companies due to weather losses and regulations that the firm said hinder the insurance giant’s ability to adequately...
#5 Progressive Q4 Net Income Up 141% as Combined Ratio Exceeds Goal for 2023
Jan 24 2024 // Progressive Corp. today said fourth quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago during the same period. The Mayfield Village, Ohio-based insurer reported some quarterly and...
#6 NHC Unveils New Hurricane Forecast Maps for 2024, Showing More Inland Warnings
Feb 21 2024 // The familiar “cone of uncertainty” map, used for years by meteorologists to show a hurricane’s predicted path, is about to get an upgrade – at least temporarily, the National Hurricane Center announced...
#7 Viewpoint: Florida Insurance Market on the Mend
Apr 5 2024 // Almost one year ago, on May 31, 2023, Florida Gov. Ron DeSantis signed sweeping insurance reform legislation into law. At that time, the Florida insurance market was on life support. Homeowners’ insurance companies,...
#8 The Rise of Self-Insurance: Navigating Risk in a Changing Insurance Landscape
Dec 22 2023 // In an era of heightened climate risks and evolving insurance dynamics, the traditional insurance model faces a conundrum. Insurers find themselves grappling with the aftermath of more frequent and severe storms, and...
#9 US Home Insurance Premiums May Hit a Record This Year, Report Warns
Apr 1 2024 // US home insurance rates are expected to reach a record high this year, with the biggest increases occurring in states prone to severe weather events, according to a new analysis. The average premium for homeowners...
#10 Allstate Reverses Q4 Loss With Benefit of Low Cat Losses, Auto Rate Increases
Feb 8 2024 // Allstate Corp. fourth quarter 2023 net income attributable to common shareholders was about $1.5 billion, reversing a loss of $303 million during the same time the prior year. Allstate CEO Tom Wilson said “improved...
#11 Chubb Writing More Personal E&S but CEO Greenberg Doesn’t Like the Trend
Feb 1 2024 // Chubb is writing more North American personal excess and surplus lines business, but the insurer’s chief executive is not exactly celebrating. While he reminded analysts during a fourth-quarter earnings conference...
#12 Commercial Property Premiums Up Over 20% to Start 2023: CIAB
May 18 2023 // Commercial property premiums increased more in the first quarter than they have in more than 20 years as the first three months of the year marked the 22nd straight quarter of overall premium increases, at 8.8%, according...
#13 3 Emerging Risks: AI-Driven Civil Unrest, Heavy EVs, Solar Panel Safety
Feb 23 2024 // Technology is poised to take over traditional markets and is rapidly creating new ones. For example, this trend is evidenced by the adoption of electric vehicles, demand for solar energy, and the blistering pace of...
#14 Music Festivals Canceled This Year Reveal Rising Costs of Producing Large Events
Mar 15 2024 // For four decades, the Riverbend Festival delighted music fans in Tennessee with headlining acts like Lionel Ritchie and ZZ Top, but this year the show won’t go on. “Riverbend is reevaluating and restructuring...
#15 Auto Claim Severity Up 35% over Pre-Pandemic Rates – LexisNexis Report
May 12 2023 // Claim severity for bodily injury and property damage increased by 35% since 2019, while collision claim severity has jumped 40%, LexisNexis Risk Solutions says in a new report. The data broker’s 2023 U.S. Auto...
#16 US Personal Lines Outlook Continues to Be Negative: AM Best
Dec 4 2023 // The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September 2022 – at first due in...
#17 Travelers Q3 Net Income Down 11% on Catastrophe Losses, Reserve Development
Oct 18 2023 // Third quarter net income at Travelers Cos. fell 11% compared to the prior-year quarter to $404 million on higher catastrophe losses and unfavorable reserve development. As one of the first insurers to report quarterly...
#18 Alera Group: Personal Insurance Outlook ‘Discouraging’
Dec 18 2023 // Unprecedented industry losses and unprofitability in homeowners and auto insurance will significantly impact pricing and availability in 2024, especially in catastrophe-prone areas and states with challenging regulations,...
#19 That’s Gonna Leave a Mark: Large-Hail Days Hit Two-Decade High in 2023
Feb 22 2024 // Hail of two inches or greater struck the United States on 141 days last year — the highest number of annual days in two decades, according to a new CoreLogic report. Severe convective storms generated “an...
#20 Industry Trends to Exploit for 2024
Dec 4 2023 // Agency owners must watch and learn about major trends when they start. Following are key trends that insurance agencies should be tracking for 2024. 1. Insurtech Several trends are emerging in the insurtech...
