Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Transportation Industry Outlook 2023: Economic headwinds usher in challenging climate for fleets
Dec 27 2022 // This post is part of a series sponsored by IAT Insurance Group. Historically high inflation, a looming recession and serious supply chain struggles continue to plague fleet owners and owner-operators who are the backbone...
Louisiana Workers’ Comp Rates to Decrease 12.2% in 2023
Dec 22 2022 // Louisiana Insurance Commissioner Jim Donelon has approved the annual loss cost filing of the National Council on Compensation Insurance (NCCI) for a -12.2% reduction in workers’ compensation rates. The decrease,...
Tenn. Chalks 10% Cut in Workers’ Comp Loss Costs, Marking a Decade of Reductions
Dec 21 2022 // Tennessee’s insurance commissioner has approved a 10.2% average decrease in workers’ compensation loss costs for the voluntary market, marking the 10th-straight reduction for the state. The Dec. 14 order from...
Customer Satisfaction With Digital Claims Declines Again: J.D. Power
Dec 21 2022 // Customer satisfaction with insurers’ digital claims systems declined for the second consecutive year, according to a J.D. Power survey of auto and home policyholders. Mark Garrett, director of P/C insurance...
California Approves Roadmap for Carbon Neutrality by 2045
Dec 20 2022 // California air regulators voted unanimously to approve an ambitious plan to drastically cut reliance on fossil fuels by changing practices in the energy, transportation and agriculture sectors, but critics say it...
Officials Release Report on 2019 Explosions at Port Neches Chemical Plant
Dec 20 2022 // The U.S. Chemical Safety and Hazard Investigation Board (CSB) released its final investigation report on the November 27, 2019, explosions and fires at the TPC Group Port Neches Operations facility Chemical Plant in Port...
Florida Gov. DeSantis Signs Bill Seeking to Stabilize Insurance Market
Dec 19 2022 // Florida Gov. Ron DeSantis signed a sweeping property insurance bill on Friday. How much and when it will work to stabilize the stormy market are among the questions being asked. One of the key goals of the legislation is...
Florida Insurance Commissioner Resigns, Gives No Reasons or Future Plans
Dec 15 2022 // Florida’s insurance commissioner on Thursday announced his resignation, effective Dec. 28, surprising some in the industry despite rumors that have swirled for the past few days. David Altmaier, who has been in the...
Courtroom Predictions for 2023 From Clyde & Co
Dec 15 2022 // Insurance law firm Clyde & Co put together some predictions for 2023. The bad news for claims: nuclear verdicts aren’t going anywhere. Here is that prediction as well as some others. Nuclear Verdicts Show No Sign...
City of London Workers Pushing for Cross-Border Remote Working: Survey
Dec 15 2022 // Finance workers are pushing for simpler rules for cross-border remote working, the latest sign that the pandemic-fueled appetite for flexible work isn’t abating. The UK government, which launched a review into...
Rising Climate Costs to Challenge Companies, Countries in 2023
Dec 15 2022 // In a year marked by yet more climate-linked floods, hurricanes and droughts, governments and companies were forced to look more closely at the financial risks and their exposure to liability. Nowhere was this more apparent...
U.S. Commercial Lines Prices Up 5% in Q3: WTW
Dec 13 2022 // With the exception of directors & officers liability and workers compensation, nearly all lines of business in the U.S. continued to see rate increases in the third quarter of 2022, according to WTW’s Commercial...
Meta Battles FTC Over Future of Virtual Reality
Dec 9 2022 // The Biden administration on Thursday accused Meta Platforms Inc. of trying to buy its way to dominance in the metaverse, kicking off a high-profile trial to try to prevent the Facebook parent from buying virtual reality...
Report: California Workers’ Comp Public Self-Insured Claim Volume Rose in FY 2021/22
Dec 9 2022 // California’s public self-insured workforce rose less than 1% in the 12 months ending June 30, but the total number of public self-insured work injuries and illness claims reported to the state jumped 35%, as the...
AM Best Revises Outlooks to Negative for Wisconsin’s Badger Mutual
Dec 8 2022 // 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 Badger Mutual Insurance...
World Bank Seeks to Restart Cat Bond Issuance to Boost Emerging Nations’ Resilience
Dec 7 2022 // The World Bank is looking to restart the issuance of catastrophe bonds to help developing countries improve their preparedness for losses from natural disasters. The supranational lender has issued close to $2.6 billion of...
AM Best Assigns Positive Segment Outlook to MGAs, Other DUAEs
Dec 7 2022 // Technology, talent and diverse sources of capital continue driving growth for managing general agencies and other delegated underwriting authority enterprises globally, according to AM Best, which assigned a positive...
New Mexico Approves Decrease in Workers’ Comp Loss Costs
Dec 6 2022 // The New Mexico Office of Superintendent of Insurance approved a rate proposal submitted by the National Council on Compensation Insurance that will reduce voluntary workers’ compensation loss costs by an average of...
Many Insurtechs Exit the Marketplace, and Other 2023 Predictions From Forrester
Dec 6 2022 // More than a quarter of insurtechs will leave the insurance marketplace in 2023 – just a couple years after investments in the space were at an all-time high, according to predictions from research and consulting firm...
Global P/C Insurance Outlook Now Negative: Moody’s
Dec 6 2022 // High claims inflation and rising reinsurance costs are among the factors that prompted analysts at Moody’s Investors Service to change their outlook for the global property/casualty sector from stable to negative,...
