Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
California Wildfire Outlook: ‘A Challenging Season for Firefighters’
Jul 1 2024 // While the official start to California’s wildfire season is still a ways off, the best forecast of what’s ahead may be to look back on the year so far, and so far it’s been far busier for firefighters...
Report: Combined California Workers’ Comp Losses and Expenses Down in 2023
Jul 1 2024 // Total insurer combined losses and expenses incurred in 2023 were down, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and...
US Auto Insurance Market on the Mend; Homeowners Line Volatile: Fitch
Jul 1 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...
Key Emerging Risks: Cascading Effects of Natural Disasters, Supply Chain Resilience
Jul 1 2024 // Key emerging risks facing global economies, businesses and the re/insurance industry include the cascading effects of natural disasters, the weakening resilience of supply chains and the repercussions of persistent...
AI, Economy, Geopolitical Conflicts Lead to Highest Level of Corporate Risk in 12 Years: Report
Jul 1 2024 // Economic volatility, geopolitical upheaval and artificial intelligence (AI) have driven the corporate threat level to its highest in 12 years, according to Clyde & Co’s 2024 Corporate Risk Radar. The survey of...
Room for Growth in Smaller Green Energy Market
Jul 1 2024 // How are insurers viewing the solar and renewable energy markets? While large risks likely have no problem, smaller to middle risks may face difficulty. “I certainly think there’s a gap in the smaller risk...
California Workers’ Comp Med-Legal Costs up Sharply Under New Fee Schedule
Jun 28 2024 // Payments for medical-legal evaluations and reports used to resolve medical disputes in California worker injury claims rose more than expected since a new Med-Legal Fee Schedule (MLFS) took effect in 2021, according to a...
As Rates Rise, Majority of Homeowners Say Insurance Industry Is in Crisis: Survey
Jun 28 2024 // Homeowners are cutting back on dining out, travel, groceries and even medication to afford their soaring property insurance premiums. One in 10 are considering relocating to an area with lower premiums. Within the last...
IICF Hosts Nearly 800 Attendees at Regional Forums Advancing the Future of Work
Jun 27 2024 // Since 2013, events have raised over $10 million in support of nonprofits helping those in need in the US and UK LOS ANGELES – June 26, 2024 – The Insurance Industry Charitable Foundation (IICF), a nonprofit...
Big ‘I’ Report: Independent Agency Channel Placed 62% of Premiums in 2023
Jun 27 2024 // Independent agents placed more than 62% of all property/casualty insurance written in the U.S., according to the Independent Insurance Agents & Brokers of America (the Big “I”). The association’s 2024...
Jacksonville OKs Jags’ $1.4B ‘Stadium of the Future’ to Spur Growth Downtown
Jun 27 2024 // JACKSONVILLE, Fla. (AP) — The city of Jacksonville approved a $1.4 billion “stadium of the future” Tuesday that should keep the Jaguars in one of the NFL’s smallest markets for at least another 30 years...
The Rise of Strategic Cargo Theft and Steps to Prevent It
Jun 26 2024 // This post is part of a series sponsored by IAT Insurance Group. Cargo theft reached an all-time high last year — up 57% across North America alone.[1] Most commonly, these thefts are the result of an ongoing misdirection...
CDK Tells Customers Dealer System Likely Down Until June 30
Jun 26 2024 // Car dealerships crippled by a cyberattack on software provider CDK Global probably won’t have their systems restored until the end of the month. In a message to clients Tuesday, CDK warned dealerships that because...
Cyber Insurance Market ‘Stable’ With Potential for Growth, Says AM Best
Jun 24 2024 // According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a ‘stable’ outlook despite a stall in premium growth. Analysts at AM Best issued a segment...
New Drivers and Electric-Vehicle Tech Bring New Risks to Auto Insurance Market
Jun 21 2024 // High claim severities, persistent risky driving behavior, electric vehicles and shop-and-swap consumers are challenging auto insurers to stay profitable. The challenges will continue through the end of the year and beyond,...
AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey
Jun 20 2024 // A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher...
Excessive Heat An Increasing Concern in Workers Comp: WCRI
Jun 20 2024 // With temperatures pushing above 90 degrees in parts of the Midwest and Northeast United States this week, many American workers are clocking in during what AccuWeather described as an “intense heat wave that is...
Businesses Do Not Have Proper Coverage for Rising Liability Losses, Says Chubb
Jun 20 2024 // An annual report from Chubb has revealed a couple of troubling trends for many businesses—the frequency and severity of large losses are up and companies are underestimating the amount of liability coverage they...
Survey: Most Homeowners Believe Their Policy Covers Flood
Jun 20 2024 // Most U.S. homeowners don’t know the policy covering their home doesn’t cover flooding, a new survey shows. Respondents in a survey out this week from Trusted Choice, a group representing the members of the...
AM Best Revises Outlooks to Stable for Philadelphia Contributionship Group
Jun 19 2024 // AM Best reports it has 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 the members of...
