Most Popular Market Headlines This Year
The most viewed headlines from our Market Topic Page over the last year.
#1 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...
#2 Insurance Industry Readies for Historic Losses From Baltimore Bridge Tragedy
Mar 29 2024 // It’s very early in the recovery process and already the numbers are large. Insured losses for the tragic collapse of the Francis Scott Key Bridge in Baltimore could be as much as $2 billion to $4 billion, according...
#3 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,...
#4 US P/C Industry Underwriting Loss Reaches 10-Year High: AM Best
Mar 7 2024 // Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and...
#5 US P/C Industry Turns in $32.2B Underwriting Loss After 9 Months
Dec 8 2023 // U.S. property/casualty underwriting results deteriorated during the first nine months of 2023 to a loss of $32.2 billion. The result, highlighted in short financial review from AM Best, is $7.6 billion worse than the same...
#6 Prepare for the Soft Market: Why You Need to Set Performance Metrics Now
Jan 11 2024 // Executive Summary: Companies need to enact long-term performance measurement and strategies for underwriting discipline across the underwriting cycle because evidence suggests underwriters will not impose it themselves,...
#7 Reinsurance Association Releases Paper on California Homeowners Insurance Market, Urges Policymakers Consider Risks of Inaction
Sep 5 2023 // The Reinsurance Association of America has come out with a white paper on the California homeowners insurance market that urges policymakers consider the risks of inaction. The paper, “Dynamics and Challenges in...
#8 Litigation Abuse, Regulation, Hard Market Among Insurance Trades’ Priorities for 2024
Dec 27 2023 // Insurance trade organizations are always working for the industry so Insurance Journal asked them: What are the top priorities and/or challenges heading into 2024? Here are the responses we received: In the coming year,...
#9 Viewpoint: Get Ready Now for the Soft Market (Because It’s Coming)
Oct 24 2023 // Executive summary: Tony Buckle and John Carolin, co-founders of the boutique insurance consultancy UWX, analyze underwriter motivation during the soft phase of the market cycle. While average market prices are the hardest...
#10 Expert: ‘Unceasing Onslaught’ of Legal Ads Worth Insurance Industry Attention
Mar 20 2024 // Often alarming, misleading or just plain annoying — when mass tort lawsuit advertisements pop on a TV screen, many consumers instinctually reach for the remote. An expert believes that the ads are worth your...
#11 What’s to Come in 2024: Hard Market, AI Expansion, More Catastrophes, Network Consolidation
Feb 5 2024 // No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk. For this special report, Insurance Journal asked industry thought leaders their predictions for the...
#12 Despite Hard Market, P/C Combined Ratio Forecast Near 104 for 2023
Nov 6 2023 // Losses resulting from severe convective storms are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting projections by actuaries at the Insurance...
#13 Reinsurance Market Likely to Begin Softening in 2025 as Capacity Rises in 2024: Fitch
Jan 25 2024 // Reinsurers’ underwriting margins are expected to peak in 2024 on the significant price rises and tighter terms and conditions achieved during 2023 and in the January 2024 renewals, which will likely lead to softer...
#14 US Auto Insurance Market on the Mend; Homeowners Line Volatile: Fitch
Jun 7 2024 // The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous...
#15 Insurance Industry Should Expect $100 Billion in Catastrophe Losses Every Year: Verisk
Sep 11 2023 // Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according...
#16 Analysis: Underwriting Loss Estimates Highlight Ongoing Challenges for US P/C Industry
Jun 14 2024 // The U.S. property/casualty market sustained an estimated $21.1 billion in underwriting losses in 2023, highlighting the challenges the industry faces as a result of natural catastrophes and inflation. According to joint...
#17 2023 Underwriting Losses Improve but Persist in US P/C Industry
Mar 26 2024 // The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that...
#18 Viewpoint: Cyber Insurance Market Themes to Look Out for in 2024
Jan 9 2024 // After my (relatively) successful effort in looking at 2023 cyber insurance themes, like a gambler on a streak of beginner’s luck, I wanted to have another roll of the dice in offering my thoughts on cyber insurance...
#19 New Survey Reveals How Independent Agents Are Adapting to the Hard Market
Mar 4 2024 // The hard market has independent agents “going the extra mile” to prioritize client communication, retention, technology and team morale. Trusted Choice, the national consumer brand representing the members of...
#20 Hard Market Pressure: Surplus Lines Lifting Heavy Load in Turbulent Times
Sep 4 2023 // As the longest hard market in memory refuses to fade, standard property/casualty carriers are not only continuing to raise prices but also reimagining their books by shedding risks they no longer want. It’s affecting...
