Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
California FAIR Plan Increases Commercial Coverage Limits to $20M Per Location
Nov 20 2023 // The California FAIR Plan Association is offering increased commercial coverage of up to $20 million per location. Prior to the adjustment, the maximum limits for commercial coverage were $8.4 million per location. Business...
The 4 Key Factors Contributing to Rising Insurance Rates
Nov 20 2023 // It’s no secret to buyers of almost any type of property/casualty insurance policy — home, auto, business — that rates are rising, regardless of whether claims have been submitted. People may also have...
Study: Medical Payments to Treat Injured Workers in Texas Stable Over Five-Year Period
Nov 17 2023 // Medical payments to treat injured workers in Texas were stable from 2016 to 2021, according to a new study from the Workers’ Compensation Research Institute (WCRI). The study, CompScope Medical Benchmarks for Texas,...
EU Proposes to Ban Sale of Tankers to Russia to Curb Growth of Shadow Fleet
Nov 17 2023 // The European Commission is proposing to ban the sale of tankers for crude oil and petroleum products to Russia to prevent Moscow bypassing western sanctions on Russian oil with a shadow fleet of ships, a proposal by the...
Generali Keeps 2024 Goal as Profits Rise 30% Despite Disaster Claims
Nov 17 2023 // Italy’s top insurer Generali stuck to 2024 targets on Thursday after posting a 29.6% rise in nine-month adjusted net profit despite rising claims from natural disasters which it said would also weigh on this...
Unlocking the Future: Remote Work’s Impact on the Insurance Industry
Nov 16 2023 // This post is part of a series sponsored by AgentSync. The concept of working from home isn’t entirely new. In fact, it’s been around since well before the digital age, although most “work from home”...
Update – Economic Threats Top List of G20 Business Leaders’ Concerns: WEF Survey
Nov 14 2023 // Economic and societal threats – such as an economic downturn, inflation, and an erosion of social cohesion – rank among the biggest risks in G20 countries over the next two years, according to a global survey of...
Insurers Are Still Backing Oil and Gas Industry Despite Rising Climate Threat: Report
Nov 9 2023 // Insurers are continuing to provide cover for increased oil and gas production even as they face large losses fueled by climate change, according to a new report. About 80% of the insurance market and 53% of the reinsurance...
AM Best Outlook of US E&S Market Revised to ‘Positive’
Nov 9 2023 // Insurance industry rating agency AM Best has upped its view of the excess and surplus market as it continues to absorb business from the admitted market. AM Best on Monday changed its U.S. E&S outlook from...
Average Premiums Keep Rising for Most Commercial Lines: IVANS
Nov 8 2023 // Ivan’s Index for the third quarter found the average premium renewal rate increased for all major commercial lines of business except workers’ compensation. Compared to the same period a year ago, Q3 2023...
Catalytic Converter Thefts Down by Half as Precious Metal Prices Drop
Nov 8 2023 // The number of insurance claims filed for catalytic converter thefts plummeted this year after rising dramatically in 2021 and 2022. National Insurance Crime Bureau data shows that as of Sept. 30, the number of claimed...
TWIA Expects Policy Count to Grow in 2024, Reaching 265,000 by Year End
Nov 7 2023 // The Texas Windstorm Insurance Association (TWIA) expects policy count to continue to grow in 2024, the association’s Board of Directors said at an Oct. 31 meeting to review information related to the 2024...
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...
AM Best Reaffirms HAI Group’s ‘A’ Rating and Elevates Outlook to ‘Positive’
Nov 6 2023 // CHESHIRE, CT., November 6, 2023 — In a testament to its unwavering commitment to excellence and sound financial practices, HAI Group’s Financial Strength Rating (FSR) of ‘A’ and Issuer Credit Rating...
Agency E&O Buyers Report Fewer Price Hikes But Overall Premiums Still Up
Nov 6 2023 // Fewer agencies reported increases in premium on their agency errors and omissions renewal policies from 2022 to 2023, according to Insurance Journal’s annual Agency E&O survey which polls buyers of the coverage...
Trucking in Transition: Sector Faces Decline in Demand, Rising Costs and Changing Insurance Markets
Nov 6 2023 // The transportation market is experiencing lower freight rates and excess capacity as fewer loads are shipped with demand for goods down from its pandemic-era peak. The trucking sector in particular is encountering...
California FAIR Plan Increases Commercial Coverage Limits to $20M Per Location
Nov 2 2023 // The California FAIR Plan Association is offering increased commercial coverage of up to $20 million per location. Prior to the adjustment, the maximum limits for commercial coverage were $8.4 million per location. Business...
People Moves: Multiple Moves at Markel Specialty as Sanders to Retire by 2024 End
Nov 2 2023 // Markel said Bryan Sanders, president of its Markel Specialty division, plans to retire by December 31, 2024. Sanders, who joined Markel in 2013 as part of the Alterra Capital Holdings, Ltd. acquisition, has more than 42...
California’s 3Q Auto Market Registrations Continued to Rise Helped by EV Sales
Nov 2 2023 // A new report shows a 14.3% increase in California’s new vehicle registrations compared to the first nine months of 2022 pushed by rising electric vehicle sales. The 3rd quarter 2023 Auto Outlook report from the...
Ending Polarization and Building Future Leaders: Travelers CEO
Nov 1 2023 // Challenges facing today’s business leaders include keeping pace with rapid change, the leader of Travelers said last week while also going out of his way to cast light on a serious obstacle to forward progress:...
