Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
McDonald’s Risks Employee Ire by Joining Trend of Virtual Layoffs
Apr 4 2023 // McDonald’s Corp. is the latest company asking staff to work from home during layoffs, a practice that has sparked criticism from other companies’ employees and management experts. The fast-food chain told...
Texas Auto, Homeowners Premiums Grew Double Digits in 2022, Report Shows
Apr 4 2023 // The Texas market for auto and homeowners insurance grew double digits in 2022, according to an annual report put out by the Texas Department of Insurance. Texas insurers reported direct premium written for private...
U.S. Commercial Rates Increased in Q4 — But at Slower Pace: WTW
Apr 3 2023 // U.S. commercial insurance prices grew in the fourth quarter of 2022 by an average of 4.8%, down from the rate of 5.2% in the previous quarter (Q3 2022), according to WTW’s most recent Commercial Lines Insurance...
WCRI: Consolidation of Health Care Driving Up Prices in Work Comp
Apr 3 2023 // Consolidation of physician services into larger groups owned by hospitals and health care systems is driving up the cost of care in workers’ compensation, according to a new study by the Workers’ Compensation...
EEOC Releases Annual Report for Fiscal Year 2022
Apr 3 2023 // The U.S. Equal Employment Opportunity Commission (EEOC) released its report on the agency’s performance during the 2022 fiscal year (FY). The report highlights the EEOC’s efforts that advance its mission for...
Architects & Engineers Market Sees Rising Claims Severity Amid Wave of New Projects
Apr 3 2023 // The construction industry continues to see a wave of new projects, creating plenty of work for architects and engineers. While design firms experience growth amid an expanding market, insurers providing architects and...
AM Best Revises Outlooks to Negative for Virginia’s Northern Neck Insurance
Mar 31 2023 // 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 Northern Neck Insurance Co. of...
Michigan Becomes First State in Decades to Repeal ‘Right-to-Work’ Law
Mar 30 2023 // Michigan, long known as a mainstay of organized labor, on Friday became the first state in decades to repeal a union-restricting law known as “right-to-work” that was passed over a decade ago by a...
APCIA Says Property Insurance Market ‘Hardest in a Generation’
Mar 29 2023 // A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the American Property and Casualty Insurance Association says...
Georgia Lawmakers Flip the Script on Use-and-File for Auto Rate Increases
Mar 27 2023 // Georgia lawmakers have approved a bill that, if signed into law, would end the longstanding “use-and-file” mechanism on auto insurance rate filings in the state. The state Senate last week voted 49-2 in favor...
D&O 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
Mar 27 2023 // Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions...
Reinsurers Average 12.1% Premium Growth for Full-Year 2022: Gallagher Re
Mar 24 2023 // Reinsurers’ premium growth averaged 12.1% for full-year 2022 and 10.2% for the fourth quarter, which was driven by improved pricing for commercial lines and reinsurance business, according to Gallagher Re. However,...
High Inflation Hiked P/C Claims Costs Up to 7.5% in 2022
Mar 24 2023 // High inflation alone led to an increase in property/casualty claims of 5-7.5%, across five key markets in 2022, according to Swiss Re research. “In 2023, we expect that inflation should lead to an additional increase...
Lloyd’s of London Swings to 2022 Pre-Tax Loss on Investments but U/W Profits Up
Mar 23 2023 // Lloyd’s of London swung to a pre-tax loss in 2022 and took writedowns on its fixed-income investments, it said on Thursday. The pre-tax loss was 800 million pounds ($982.56 million), compared with a profit of 2.3...
Too Soon for ‘All Clear’ in D&O Insurance Market as Banks Fall
Mar 21 2023 // D&O insurers breathed a short sigh of relief when the U.S. government pledged to protect depositors of failed Silicon Valley Bank last week. But it wasn’t necessarily business as usual for watchful underwriters...
WCRI: Consolidation of Health Care Driving Up Prices in Work Comp
Mar 21 2023 // Consolidation of physician services into larger groups owned by hospitals and health care systems is driving up the cost of care in workers’ compensation, according to a new study by the Workers’ Compensation...
Commercial Insurance Price Increases Stay Level But Clients Still Worried: CIAB
Mar 20 2023 // Stabilization” and “moderation” continued to be the operative words for premium increases in the commercial property/casualty market, but many clients remain concerned about future hikes, according to a...
Architects & Engineers Insurers Seek More Rate Increases: Ames & Gough
Mar 20 2023 // According to a new survey from specialty broker Ames & Gough, insurers of professional liability for architects and engineers are planning additional rate increases to keep pace with rising claims costs, a backlog of...
3 Emerging Risks to Watch: Generative AI, Deceptive Design, Bidirectional EVs
Mar 20 2023 // Innovative technologies can be transformational for businesses, industries and our way of life, but they also represent risks. Advances in new areas of tech, such as artificial intelligence (AI), are creating unforeseen...
Insurers: Washington’s Proposal for More Premium Increase Explanations May Delay Filings
Mar 17 2023 // Insurers say a new regulation proposed by Washington state Insurance Commissioner Mike Kreidler that requires them to explain premium increases to their policyholders in language consumers can understand has the potential...
