Trending Trends Headlines
The most viewed headlines from our Trends Topic Page over the last 30 days.
#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 Report: Auto Insurance Premiums Rise 17% in H1 of 2023
Aug 3 2023 // Car insurance premiums are skyrocketing primarily due to rising auto parts costs and extreme weather, according to virtual insurance agent platform Insurify’s Q3 2023 Mid-Year Auto Insurance Trends Report. In the...
#3 FedEx Faces Safety Issues as Driver Accidents, Insurance Costs Rise
Aug 16 2023 // FedEx Corp. is pressuring delivery contractors to improve safety after mounting accidents helped trigger a near-tripling of insurance costs over the decade. FedEx is requiring contractors that deliver packages on behalf of...
#4 Florida OIR Tells Citizens to Rethink Maximum Rate Increase on HO Policies
Aug 22 2023 // When Citizens Property Insurance Corp. in June filed for the maximum rate increases allowed by its statutory glidepath, many in the Florida insurance industry saw it as a good thing, needed to help steer policyholders back...
#5 Private Flood Insurers See Opportunity as NFIP Increases Rates
Aug 21 2023 // While the National Flood Insurance Program (NFIP) rolls out a new rating program generating premium increases for many policyholders, the private flood insurance market has seized the opportunity to grow its market share...
#6 Increased Vehicle Sales, Search for Lower Rates Boost Auto Insurance Shopping
Aug 15 2023 // Auto insurance shopping rates rose 12% year-over-year in the second quarter of 2023, according to a new TransUnion report. While vehicle sales played a role in the increase, TransUnion said in a press release that the...
#7 Survey Finds Homeowners Are Putting Off Repairs, Reducing Homeowners Coverage
Aug 18 2023 // Many U.S. homeowners are delaying home repairs, potentially putting their property at risk of damage, according to the latest Nationwide Agency Forward survey. A quarter of the homeowners surveyed (26 percent) are unaware...
#8 Business Owners Seek Increased Insurance Protection Amid Mounting Risks: Gallagher
Aug 9 2023 // An overwhelming number of business owners in the United States are looking to expand their insurance coverage amid risks ranging from climate change to cyber attacks, a study by global insurance brokerage Gallagher showed...
#9 Surplus Lines Premium Increases 16% to Nearly $36 Billion Through June
Aug 10 2023 // Surplus lines premium reached nearly $36 billion through the first six months of 2023, according to the 2023 Midyear Report of the U.S. Surplus Lines Service and Stamping Offices. Premium increased about 16% overall...
#10 NOAA Increases Prediction for Atlantic Hurricane Season to “Above-Normal”
Aug 11 2023 // The National Oceanic and Atmospheric Administration is increasing its prediction for the ongoing 2023 Atlantic hurricane season to “above-normal” activity. Warmer-than-normal sea surface temperatures across...
#11 AM Best Revises Outlook to Negative for Iowa-Based Grinnell Mutual Group’s Credit Ratings
Aug 25 2023 // AM Best has revised the outlooks to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+”...
#12 TWIA Board Votes Down Recommended Rate Increases
Aug 9 2023 // Though an analysis found rates at Texas’ insurer of last resort to be about 20% inadequate, its board on Tuesday did not come to an agreement to file for any rate increases. The board of the Texas Windstorm Insurance...
#13 Estimate of Losses From Devastating Hawaii Wildfires Increases to $14B-$16B
Aug 14 2023 // AccuWeather increased its estimate of the total damage and economic loss from the devastating wildfires burning in Hawaii to $14 to $16 billion. The update follows AccuWeather’s preliminary estimate last week of...
#14 Insuring the Future: How Gen Z Digital Natives Are Transforming Insurance
Aug 2 2023 // Powered by InsuranceJournal.tv Generation Z insurance consumers – or those born between roughly 1997 and 2012 – want the insurance process to be authentic, honest, and immediate. That’s according to guests on The...
#15 2023 to Test Recent Growth in Private Flood Insurance Market
Aug 29 2023 // The private flood insurance market has been growing but 2023 may provide a real test following Tropical Storm Hilary in California as well as future storms that may come during the remainder of the Atlantic hurricane...
#16 Forecasters Stress Uncertainty in Latest Hurricane Forecast
Aug 4 2023 // Forecasters from Colorado State University (CSU) stressed uncertainty in their latest outlook on Thursday for the current Atlantic hurricane season, even as they held steady the number of storms expected. This year’s...
#17 NCCI Calls for Average 15% Decrease in Florida Workers’ Compensation Rates
Aug 29 2023 // The National Council on Compensation Insurance has proposed an average 15.1% decrease in rates for Florida, starting Jan. 1, the latest and one of the largest reduction recommendations in more than a decade of rate...
#18 Rising Flood Risks Threaten Many Water and Sewage Treatment Plants
Aug 14 2023 // The crack of a summer thunderstorm once comforted people in Ludlow, Vermont. But that was before a storm dropped eight inches of rain on the village of 2,200 in two days last month. And it was before the devastation of...
#19 Cargo Theft Increased 57% in Q2; High-Value Shipments Targeted
Aug 9 2023 // There were 582 supply chain events reported across the United States and Canada in the second quarter of 2023, a 57% increase when compared to the second quarter of 2022, according to the latest CargoNet report. Ongoing...
#20 Reinsurers’ Cyber Rates Expected to Rise as They Seek to Regain Profitability: S&P
Aug 29 2023 // More cyber reinsurance rate increases can be expected as reinsurers seek to regain underwriting profits in their cyber portfolios, according to a report published by S&P Global Ratings. “Reinsurers had a...
