Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
18 Years After Katrina Levee Breaches, Group Wants Future Engineers to Learn From Past Failures
Aug 30 2023 // Future engineers need a greater understanding of past failures – and how to avoid repeating them – a Louisiana-based nonprofit said to mark Tuesday`s 18th anniversary of the deadly, catastrophic levee breaches that...
Car Premiums to Rise Again as British Insurers Feel the Heat
Aug 30 2023 // Motorists in Britain should brace for another year of steep insurance rises as providers confront cost pressures, industry figures have warned. Admiral Group Plc will continue increasing motor insurance prices and expects...
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...
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...
Derek Rathel Joins InsurSign as CEO: Vision & Future Outlook
Aug 29 2023 // San Francisco, CA., August 29, 2023 — In a significant stride towards innovation, Derek Rathel has taken the reins as the Chief Executive Officer (CEO) of InsurSign. This move underscores the evolution of the...
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...
AM Best Revises Outlook to Positive for Texas’ Skyward Specialty
Aug 28 2023 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- (Excellent) of Great Midwest Insurance Company, Houston...
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+”...
Cryptoassets Increase Financial Risks in Developing Economies, Study Says
Aug 23 2023 // Cryptoassets, peddled as the future of finance, have not only failed to deliver on their promise but are themselves adding to financial risks in developing economies, according to a paper from the Bank for International...
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...
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...
Agency M&A Down 24% in First Half 2023: OPTIS
Aug 21 2023 // Investment banking and financial firm OPTIS Partners said the count of agency mergers and acquisitions during the first half of the year was 359, down 24% from 475 during the same time last year. “The drop-off in...
Study: Motor Vehicle Thefts Soar in First Half of 2023
Aug 21 2023 // During the first half of 2023, vehicle thefts soared while most other crimes declined, according to a new study of crime trends in 37 cities released by the Council on Criminal Justice. Continuing an upward trajectory,...
Risks & Opportunities in Emerging Cannabis Products
Aug 21 2023 // New cannabis products like gummies, drinks and new consumables bring the promise of exponential growth and the normalization of public consumption, promising to significantly reshape the business landscape for insuring...
S&P Revises Outlooks for Munich Re, Swiss Re While Affirming AA- Ratings
Aug 18 2023 // S&P Global Ratings has revised its outlooks for Munich Re and Swiss Re, affirming both reinsurers’ “AA-” issuer credit and financial strength ratings. Munich Re’s outlook was revised to positive...
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...
Markets/Coverages: Skyrisks, Quotech Link Up to Insure Advanced Air Mobility Sector
Aug 17 2023 // Skyrisks Ltd., the newly incorporated, London-based managing general agent, has linked with Quotech, the underwriter-led developer of integrated technology platforms for underwriters and brokers, to deliver insurance...
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...
UK Insurer Aviva Eyes Lloyd’s of London Entry, Posts Above-Forecast H1 Profit
Aug 16 2023 // Aviva posted an above-forecast rise in first-half operating profit on Wednesday, helped by strong performance in general and health insurance, and its chief executive said the insurer was interested in entering the...
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...
