Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Construction Industry Outlook 2023: Pivot to Pursue Growth in the Face of Macroeconomic Headwinds
Jan 26 2023 // This post is part of a series sponsored by IAT Insurance Group. The potential for recession, continued inflation, critical labor shortages and supply chain issues will loom large over construction in 2023. Additionally,...
Hardening Construction Market Gives Way to Rise of Captives
Jan 25 2023 // Amid a historically hard construction market, middle and large-sized companies looking for alternatives to traditional insurance may turn to captives to find stable pricing and greater capacity. Captives, licensed...
Report Says Social Inflation Adds Up to 11% to Physician Malpractice Claims
Jan 25 2023 // Social inflation accounts for 8% to 11% of all medical malpractice losses for carriers that insure physicians, according to an actuarial analysis commissioned by The Doctors Co. TDC hired Moore Actuarial Consulting to...
The History of Health Insurance: Past, Present, and Future
Jan 25 2023 // This post is part of a series sponsored by AgentSync. Health insurance (officially called “accident or health and sickness”) is one of the major, or general, lines of authority (LOAs) defined by the National...
Washington Insurance Commissioner’s Report on Utilities’ Liability Shows Increased Costs, Exclusions
Jan 23 2023 // The Washington Office of the Insurance Commissioner recently delivered a report to the state Legislature and governor on the liability insurance market for electric utilities in Washington. The OIC worked with the...
2022 M&A Activity Falls, But Still Could Rank as Second Highest On Record: Report
Jan 23 2023 // Berkshire Hathaway’s $11.6 billion acquisition of Alleghany Corp. was the largest insurance transaction in 2022 but insurance M&A activity dropped overall this year, according to an S&P Global Market...
Allstate Readies Investors for Q4 Loss of Up to $335M
Jan 19 2023 // Allstate Corp. on Wednesday said it expects to end 2022 in the red with a net loss of between $285 million and $335 million for the fourth quarter, and a combined ratio of 109.1. Estimated adjusted net loss for the quarter...
Warming Trend Continues in 2022 and Expensive Weather Events Pack Punch
Jan 18 2023 // According to data presented during a joint NASA and NOAA webinar earlier this month, 2022 was among the warmest years recorded since the late 19th century – continuing a trend that has shown gradual global temperature...
What’s New in Agency Compensation: Participate in the 2023 Survey
Jan 13 2023 // Insurance Journal is once again inviting all retail agency owners, principals, producers, account executives, CSRs — the entire agency — to participate in the annual independent insurance agency salary survey for...
Crypto Crime Hits Record $20B in 2022, Report Says
Jan 12 2023 // Illicit use of cryptocurrencies hit a record $20.1 billion last year as transactions involving companies targeted by U.S. sanctions skyrocketed, data from blockchain analytics firm Chainalysis showed on Thursday. The...
UK Financial Services Firms Fear Rise in Loan Defaults: CBI/PwC Survey
Jan 12 2023 // An increasing number of the UK’s financial services firms expect a rise in loan defaults in the next three months, the latest reminder of a gloomy economic outlook. A balance of 23% of respondents to the CBI/PwC...
Environmental Risks, Climate Change Ranked as Top Risks Facing Planet: WEF Survey
Jan 11 2023 // Failure to tackle climate change and environmental degradation dominate the ranking of top risks facing the planet in the next decade, a World Economic Forum (WEF) survey of global risk specialists found. Moreover,...
U.S. Climate Disasters Racked Up $165 Billion in Damage in 2022
Jan 11 2023 // A massive hurricane, a historic drought, and 16 other major disasters across the US collectively racked up $165 billion in damages and killed at least 474 people in 2022, according to a National Oceanic and Atmospheric...
Environmental, Social and Governance Credit Risks to Rise in 2023: Moody’s
Jan 10 2023 // Economic and political turbulence caused by the COVID-19 pandemic and Russia’s invasion of Ukraine will be likely to heighten environmental, social and governance (ESG) credit risks this year, credit rating agency...
Beazley Launches Global Re/insurance Market’s First Cyber Catastrophe Bond
Jan 9 2023 // Specialist insurer Beazley has launched the global insurance market’s first cyber catastrophe bond. The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million catastrophe event, with...
Cat-Exposed Property Highlights Q4 Rate Increases: MarketScout
Jan 6 2023 // According to MarketScout’s Market Barometer, the fourth quarter 2022 composite rate for U.S. commercial lines of insurance was up 5.1%. The Dallas-based distribution and underwriting company said property insurance...
Black Sea Shipping Costs Rise on Higher War Risk Insurance, Reinsurer Exclusions
Jan 6 2023 // Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said. The Black Sea is crucial...
California Workers’ Comp Study Tracks Inpatient Care Utilization Trends
Jan 5 2023 // A new study shows that after across-the-board declines in California inpatient hospitalizations during the COVID-19 crisis of 2020, the number of inpatient stays paid under Medicare, Medi-Cal, and private coverage began to...
2022 Will Be UK’s Warmest Year on Record: Met Office
Dec 29 2022 // This year will be the warmest year on record for the UK, according to the Met Office. The annual average temperature across Britain exceeded the previous high set in 2014, when the average was 9.88C, provisional data from...
Ship Insurers’ Exodus From Russia-Ukraine Risks Gathers Momentum
Dec 29 2022 // A host of shipping insurers altered their policies for 2023 to exclude claims linked to Russia’s war in Ukraine, a further sign of the industry’s growing concerns about losses stemming from the conflict. At...
