Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Call to Phase Out ‘Forever Chemicals’ Gains Investor Momentum
Dec 5 2022 // Investors managing $8 trillion in assets have written to the world’s biggest chemicals companies urging them to phase out the use of so-called forever chemicals that can accumulate in the environment and remain...
The Future of Insurance: PLUS Conference Recap
Dec 5 2022 // Technology is on everyone’s mind. Whether it’s using big data, AI or tackling the world of cybersecurity, technology tops the list of business concerns today. For the insurance industry, technology and how data...
Many Ethnic Minorities in UK Financial Services Face Racism, Discrimination: Survey
Dec 5 2022 // The UK may be more ethnically and racially diverse than ever, but minorities working in the financial services industry continue to face discrimination, according to a new study. About 70% of ethnic minorities working in...
Getting Unstuck: Self Examination for Agency Owners to Fuel Momentum and Growth
Dec 5 2022 // Every business hits one or more plateaus during its development. This is normal, natural, and predictable. What once worked no longer works — at least as well as it used to work. I call this getting...
2022 Hurricane Season Ends But Was the Third-Costliest on Record, Thanks to Ian
Dec 2 2022 // An Atlantic hurricane season that had 14 named storms officially ended on Wednesday, leaving residents in the Florida Keys to celebrate even as others around Florida and Puerto Rico continue to grapple with the damage...
‘Droves’ of Global Re Market Entrants Unlikely; Outlook Stable: AM Best
Dec 2 2022 // Will 2023 reinsurance renewals mark a turning point to a “true hard market” that attracts “new capital in droves” and expands supply? Analysts from AM Best raised the question in a new Best’s...
Risk Managers Want More Involvement in Organizational ESG Strategy: WTW Survey
Dec 1 2022 // More than half of risk managers are significantly involved in their organization’s environmental, social and governance (ESG) efforts, but 77% believe they should take an active or more active role in ESG strategy...
U.S. E&S Premiums Continue Growth in 2022: S&P
Nov 30 2022 // According to an analysis by S&P Global Market Intelligence, the U.S. excess and surplus market continued to grow in 2022, surging $37.6 billion in premiums during the first six months. Direct written premiums in the...
Report: It Takes 7 Years to Close Most California Workers’ Comp Claims
Nov 30 2022 // It takes seven years to close the vast majority of workers’ compensation claims in California, more than double the time in the median state. The Workers’ Compensation Insurance Rating Bureau of California...
Private Flood Insurance Market Growing; NFIP ‘Adrift’: AM Best
Nov 28 2022 // Hurricane Ian may result in one of the largest losses in the history of the National Flood Insurance Program and add to its current $20.5 billion debt. According to a market segment report from AM Best, the projected range...
Property Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals
Nov 23 2022 // Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according to a commentary from Fitch Ratings Fitch expects double-digit percentage premium...
Missouri Dept. of Insurance Recommends 6.4% Decrease in Workers’ Comp Rates
Nov 22 2022 // The Missouri Department of Commerce and Insurance (DCI) is recommending a 6.4 percent decrease in workers’ compensation insurance loss costs for 2023. This marks the seventh time in eight years that average...
Report: 158 Priests in Baltimore Accused of Abusing 600 Victims Over Decades
Nov 21 2022 // An investigation by Maryland’s attorney general identified 158 Roman Catholic priests in the Archdiocese of Baltimore who have been accused of sexually and physically abusing more than 600 victims over the past 80...
Nationwide Catalytic Converter Theft Ring Taken Down in Raid
Nov 21 2022 // Twenty-one people in nine states were arrested and charged Nov. 2 with their roles in conspiracies to steal catalytic converters from vehicles across the country and sell them for profit. According to the U.S. Department...
D&O Pricing Falls 14.7% in Q3, Breaking 17 Quarters of Pricing Increases: Aon
Nov 21 2022 // Directors and officers liability pricing fell 14.7% in the third quarter, according to a recent survey. Aon’s Financial Services Group’s Q3 2022 pricing index for the quarter ending on September 30 decreased to...
ESG Will Increasingly Influence Insurers’ Strategies: Fitch Ratings
Nov 21 2022 // Environmental, social and governance issues will grow in their influence in insurance industry decision-making as they become more important to stakeholders, according to a report from Fitch Ratings. For most insurance...
New SEC Disclosure Rules May Drive Up D&O Claims
Nov 21 2022 // New rules proposed by the U.S. Securities and Exchange Commission on cybersecurity and climate impact disclosures may generate more lawsuits that will generate claims against directors and officers (D&O) policies,...
Lemonade Records Net Loss, Top and Bottom Line Growth
Nov 18 2022 // Insurtech Lemonade booked a third-quarter net loss of $91.4 million compared with a net loss of $66.4 million during the same quarter last year, but in a letter to shareholders, the company said both top and bottom lines...
Commercial P/C Rates Up for 20th Straight Quarter: CIAB
Nov 18 2022 // Third-quarter 2022 marked the 20th consecutive quarter of increased premiums for commercial property/casualty, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The average premium...
Report: 90% of U.S. Counties Hit With Disaster in Last Decade
Nov 17 2022 // Ninety percent of the counties in the United States suffered a weather disaster between 2011 and 2021, according to a report published Wednesday. Some endured as many as 12 federally-declared disasters over those 11 years....
