Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Report Shows Increase in Total EV Loss Claims
Jun 7 2024 // A new report shows a jump in total loss frequency for both electric and newer internal combustion engine automobiles. Mitchell this week released its Q1 2024 trends report: Plugged-In: EV Collision Insights. The report...
Staff Warned Off Whistleblower Hotlines: Global Survey
Jun 6 2024 // More than half of whistleblowers have felt pressured not to use internal hotlines to raise red flags at large global businesses and public bodies, a global EY survey showed. The number of organizations without a...
Commercial Property Insurance Market Proving More Stable, Capitalized: USI
Jun 6 2024 // Following last year’s historically challenging property insurance market, 2024 is proving to be “a more stable and capitalized market,” USI Insurance Services reported in its latest Commercial Property...
P/C Insurers Slow to Achieve Analytics Ambitions: Survey
Jun 5 2024 // Just under half of property/casualty insurers recently surveyed by WTW say they plan to incorporate artificial intelligence into their analytics (49%), but most have yet to bring “traditional” analytics into...
Sanctioned Oil Tankers Pose Rising Environmental Risk in Mediterranean, Greece Says
Jun 5 2024 // Unregulated tankers sidestepping Western sanctions are posing a bigger risk to the Mediterranean region and Greece is undertaking more protective measures to safeguard its coast, the country’s shipping minister told...
Report: Cost of Prescriptions in Workers’ Comp on The Rise
Jun 3 2024 // While overall utilization is trending downward, cost of prescriptions in workers’ compensation is on the rise, driven by “high-dollar topical agents” that primarily come from out-of-network channels, as...
Firefighters Battle California Wildfire With Hot Weather in the Forecast
Jun 3 2024 // Firefighters battling a California wildfire burning east of San Francisco have increased containment on the fire, but hot weather is in the forecast for the next few days. Nearly 500 firefighters, along with several air...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
Jun 3 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024, according to The Council of Insurance Agents and Brokers’ Q1 Market Survey. With...
Nuclear Verdicts Surge to $14.5 Billion in 2023, Report Shows
Jun 3 2024 // Nuclear verdicts of at least $10 million reached a 15-year high in 2023, while 27 verdicts were “thermonuclear,” or more than $100 million, according to a new study by research firm Marathon Strategies. The...
Social Inflation Key Factor in Rise of Loss Severity: AM Best
Jun 3 2024 // Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the past decade, indicating other factors are influencing claims costs for indemnity and expense payments, according to...
Popular South Carolina Country Music Venue Shuts Down After 29 Years Due to Liquor Liability Insurance Costs
Jun 3 2024 // A popular country music venue in Greenville, South Carolina, has closed its doors after almost 30 years, citing the cost of liquor liability insurance in the state. The Blind Horse Saloon, known for hosting some well-known...
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...
AM Best Revises Outlooks to Stable, Affirms Excellent Ratings for MEMIC Group
May 31 2024 // AM Best 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 workers’ compensation...
‘Cautiously Optimistic’ on Florida: Defense Costs Down, but Reinsurance Still a Drag
May 31 2024 // Analysts with the AM Best financial rating firm and other stakeholders are cautiously optimistic about the resurrection of the Florida property insurance market, 18 months after state lawmakers approved monumental...
NC Commissioner Rejects Proposed 83% Mobile Home-Fire Rate Increase
May 30 2024 // North Carolina Insurance Commissioner Mike Causey has scheduled a 2025 hearing date after rejecting the NC Rate Bureau’s request for an 83% average rate increase in mobile home fire policies and a 50% increase in...
SambaSafety and The National Alliance Unveil 2024 Driver Risk Report: Key Trends Shaping Automotive Mobility
May 30 2024 // Austin, TX, May 30, 2024 – The National Alliance for Insurance Education and Research has partnered with SambaSafety, a leading provider of cloud-based risk management solutions, to release a new research report,...
Survey: Mid-Market Leaders Peg Cyber, Economy and Regulation as Top Concerns
May 30 2024 // Business leaders place cybersecurity, the economy, regulatory challenges and global instability among their top concerns for the coming year, fueled by factors such as AI, climate change, nuclear verdicts and political...
People Moves: Specialist Aviation MGA Itasca Names John as CEO, Succeeding Zolotusky; DUAL Group Appoints Allianz’s Sayce as Group Head of Emerging Products
May 29 2024 // This edition of International People Moves details appointments at aviation specialist Itasca MGA Ltd. and DUAL Group, Howden’s MGA subsidiary. A summary of these new hires follows here. Specialist Aviation MGA...
Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead
May 28 2024 // In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way it’s a 40% jump over...
Medicare: 5 Compliance Trends to Look for in Plan Year 2025
May 28 2024 // This post is part of a series sponsored by AgentSync. In 2024, the Center for Medicare and Medicaid Services (CMS) introduced changes to the rules it sets for Medicare Supplement, Medicare Advantage, and Part D insurance...
