Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
AM Best Issues Improved Outlooks for Barnstable Group in Massachusetts
Jul 6 2023 // AM Best has revised its outlooks to stable from negative and affirmed its Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a” (Excellent) for the members of Barnstable Group,...
Global Cyber Premiums Could Exceed $50B by 2030
Jul 6 2023 // The cyber insurance market potential is huge, with premiums likely to exceed $50 billion by 2030, according to a new report by global insurance broker Howden. With the potential to rival major P&C lines, future growth...
Theft is on the Rise: Is your construction site secure?
Jul 5 2023 // This post is part of a series sponsored by IAT Insurance Group. Here are two true claims stories: In Dallas, a 2018 Lincoln Ranger Welder and tools in a 20-foot container were stolen from an elementary school jobsite....
Know the Plaintiff Side Through Data, Drive Down Litigation Costs
Jul 5 2023 // One of the most significant challenges facing property and casualty (P&C) insurers is the sheer volume of unstructured data from various sources needed to make informed decisions. The claims process is complex, often...
UBI-Use Rises as Customer Satisfaction Declines
Jul 3 2023 // Auto insurance rates are rising and that is leading consumers to look at usage-based insurance (UBI) options to help defray some costs. About one third of auto insurance customers in the U.S. reported a rate increase in...
Insurance Costs Rapidly Rising for Rental Properties: S&P
Jul 3 2023 // The recent upticks in the frequency and severity of weather events has affected insurance premiums for rental properties. According to S&P Global Ratings, insurance is an increasing percentage of total expenses for...
3 Emerging Risks to Watch: The Rise of Robotics, Infrastructure Spending, Vehicle Subscriptions
Jul 3 2023 // Years ago, it may have been hard to imagine a time when robots could have nine-to-five jobs and handle household chores, drivers could subscribe to luxury vehicle features like heated seats and big infrastructure projects...
Gallagher’s June Insurance Market Report: Key Highlights and Implications for Buyers
Jun 30 2023 // How does the 2023 insurance market look so far? It depends on where you stand. Property is facing its most challenging market in 20 years. But D&O rates are down after spiking in 2020. Cyber is evolving to limit...
Climate Change Leads to ‘Arctic Opening,’ Creating Key Emerging Risk: Swiss Re
Jun 28 2023 // Climate change is the cause of a key emerging risk identified by Swiss Re’s SONAR report, which is leading to the opening of previously frozen waterways in the Arctic and the creation of new shipping and trade...
FIGA Sells Muni Bonds to Keep Up with Insolvent Insurer Claims
Jun 27 2023 // The Florida Insurance Guaranty Association, which handles the claims of insolvent insurers, plans to borrow $600 million by selling municipal bonds, according to preliminary offering documents. It is the first time in...
IICF Looks to the Future of Talent and Leadership at Biennial Inclusion in Insurance Global Conference
Jun 26 2023 // IICF presents 2023 Inclusion Champion Award and raises funds for communities across the US and UK LOS ANGELES – June 20, 2023 – The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization...
Marsh McLennan to Work With Ukraine to Provide Access to Global Insurance Market
Jun 23 2023 // Marsh McLennan, the professional services firm in the areas of risk, strategy and people, today announced that it will work with the Ukrainian government to help it unlock access to the global insurance market. As part of...
In 2021 US Firearm Fatalities Reached Record Highs for Second Straight Year: Report
Jun 23 2023 // Newswise — A new report from the Johns Hopkins Center for Gun Violence Solutions analyzing 2021 Centers for Disease Control and Prevention data reveals another record year for firearm fatalities. The 48,830 lives lost to...
Washington Rule Requires Insurers to Tell Policyholders Why Their Premium is Going up
Jun 22 2023 // Washington Insurance Commissioner Mike Kreidler adopted a rule requiring insurers to explain premium increases to their policyholders “in language they can understand.” “If your insurance company is going...
Colorado Supreme Court Strikes Law Allowing Child Sex Abuse Suits from Decades Past
Jun 22 2023 // Childhood sexual abuse victims in Colorado will no longer be able to file lawsuits over abuse that happened decades ago, as the state Supreme Court struck down a law Tuesday that gave victims a three-year window to sue...
Tropical Storm Bret Spins Up With Possible Hurricane Threat to Caribbean
Jun 21 2023 // Tropical Storm Bret formed in the central Atlantic Ocean on Monday, with forecasters saying it could pose a hurricane threat to the Lesser Antilles by Thursday and the Dominican Republic and Haiti by the weekend. The...
Fitch: US Insurance Market Forecast to Withstand Losses From Large Hurricane This Year
Jun 21 2023 // With ample capital, Fitch Ratings’ latest annual ‘U.S. Hurricane Season’ report indicates U.S. property and casualty (P/C) and reinsurers can absorb losses if a large hurricane makes landfall this...
New Home Construction Surges by Most in 3 Decades in May
Jun 20 2023 // Groundbreaking on U.S. single-family homebuilding projects surged in May by the most in more than three decades and permits for future construction also climbed, suggesting the housing market may be turning a corner after...
Microsoft Says Early June Disruptions to Outlook, Cloud Platform Were Cyberattacks
Jun 19 2023 // In early June, sporadic but serious service disruptions plagued Microsoft’s flagship office suite – including the Outlook email and OneDrive file-sharing apps – and cloud computing platform. A shadowy hacktivist...
UK’s Labour Vows to Make Britain a Clean Energy Superpower by 2030
Jun 19 2023 // Britain’s main opposition Labour Party on Monday pledged to turn the country into a clean energy superpower by 2030, saying it would overturn a ban on new onshore wind farms while respecting any oil and gas licenses...
