Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
American National Exiting Homeowners Insurance Market
May 31 2024 // Following its announcement several months ago to leave the homeowners insurance business in nine states including California and Louisiana, American National appears to be exiting the line in all states. According to a...
AM Best Revises Outlooks to Stable, Affirms Excellent Ratings for MEMIC Group
May 31 2024 // AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of workers’ compensation...
‘Cautiously Optimistic’ on Florida: Defense Costs Down, but Reinsurance Still a Drag
May 31 2024 // Analysts with the AM Best financial rating firm and other stakeholders are cautiously optimistic about the resurrection of the Florida property insurance market, 18 months after state lawmakers approved monumental...
NC Commissioner Rejects Proposed 83% Mobile Home-Fire Rate Increase
May 30 2024 // North Carolina Insurance Commissioner Mike Causey has scheduled a 2025 hearing date after rejecting the NC Rate Bureau’s request for an 83% average rate increase in mobile home fire policies and a 50% increase in...
SambaSafety and The National Alliance Unveil 2024 Driver Risk Report: Key Trends Shaping Automotive Mobility
May 30 2024 // Austin, TX, May 30, 2024 – The National Alliance for Insurance Education and Research has partnered with SambaSafety, a leading provider of cloud-based risk management solutions, to release a new research report,...
Survey: Mid-Market Leaders Peg Cyber, Economy and Regulation as Top Concerns
May 30 2024 // Business leaders place cybersecurity, the economy, regulatory challenges and global instability among their top concerns for the coming year, fueled by factors such as AI, climate change, nuclear verdicts and political...
People Moves: Specialist Aviation MGA Itasca Names John as CEO, Succeeding Zolotusky; DUAL Group Appoints Allianz’s Sayce as Group Head of Emerging Products
May 29 2024 // This edition of International People Moves details appointments at aviation specialist Itasca MGA Ltd. and DUAL Group, Howden’s MGA subsidiary. A summary of these new hires follows here. Specialist Aviation MGA...
Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead
May 28 2024 // In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way it’s a 40% jump over...
Medicare: 5 Compliance Trends to Look for in Plan Year 2025
May 28 2024 // This post is part of a series sponsored by AgentSync. In 2024, the Center for Medicare and Medicaid Services (CMS) introduced changes to the rules it sets for Medicare Supplement, Medicare Advantage, and Part D insurance...
Insurers Are Working to Shore Up the $2 Billion Carbon Offset Market
May 24 2024 // Data fraud, questionable accounting practices and intensified catastrophes are just some of the issues that have battered the voluntary carbon market. Those misfortunes have helped spur a new line of business: Insurance...
California Advances Legislation Cracking Down on Auto Theft, Stolen Goods Resellers
May 24 2024 // The California Senate approved a bipartisan package of 15 bills this that would increase penalties for organized crime rings, expand drug court programs and close a legal loophole to make it easier to prosecute auto...
A.M. Best: Rapid Premium Growth Warrants Greater MGA Oversight
May 24 2024 // Though A.M. Best remains bullish on the delegated underwriting authority enterprises (DUAEs) market, it remains cautious of the risk managing general agents (MGAs) bring to insurers. In its latest market segment report,...
NOAA Chimes in With Prediction of Above-Average Atlantic Hurricane Season
May 23 2024 // The National Oceanic and Atmospheric Administration (NOAA) today predicted an 85% chance of an above-average Atlantic hurricane season, with up to 25 named storms. “The upcoming Atlantic hurricane season is expected...
UK’s Aviva Posts 16% Rise in Q1 General Insurance Premiums
May 23 2024 // Aviva posted a 16% rise in general insurance gross written premiums to 2.7 billion pounds ($3.44 billion) in the first quarter, helped by strong performance in Britain. Life and general insurer Aviva, which has its main...
Oil Shipments at Risk From Rising Sea Levels, Think Tank Warns
May 22 2024 // Rising sea levels could severely disrupt crude oil shipments and erode energy security in import-dependent countries like China, South Korea and Japan, with many of the world’s biggest terminals vulnerable to...
S&P: 2023 Marked Stall of Rapid Growth in US Cyber Insurance
May 22 2024 // S&P Global Market Intelligence weighed in on the U.S. cyber insurance marketplace, reporting that premium dipped in 2023 to end several years of rapid growth. The overall 0.7% decline in cyber insurance direct written...
Markets/Coverages: MGA OpenRoad Enters Collector Vehicle Insurance Market
May 21 2024 // Managing general agency Open Road Insurance announced its entry into the marketplace for collector vehicle auto insurance with its first license in Texas, and plans to launch in other U.S. states later this...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
May 20 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024. According to The Council of Insurance Agents and Brokers’ Q1 Market Survey, the...
AM Best Affirms Arrow Mutual’s Ratings, Revises Outlooks Citing Claim Dispute
May 20 2024 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Arrow Mutual Liability...
Hawaii Study: Nearly 75% of Wildfire Survey Participants Have Respiratory Issues
May 20 2024 // A University of Hawaii study examining the health effects of last year’s deadly wildfires on Maui found that up to 74% of participants may have difficulty breathing and otherwise have poor respiratory health, and...
