Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
California Workers’ Comp Benefits to Increase in 2023
Nov 17 2022 // California’s State Average Weekly Wage rose by more than 5% in the year ending March 31, 2022, which will result in an increase in California workers’ compensation temporary total disability and permanent total...
Counting the Rising Cost of Climate Change With Top Most Costly Natural Disasters
Nov 16 2022 // Climate change has raised the cost of natural disasters, as rising sea levels and drought increase the frequency and severity of flooding and wildfires, insurers and risk modeling experts say. The list of the 10 most...
D&O Pricing Falls 14.7% in Q3, Breaking 17-Quarters of Pricing Increases: Aon
Nov 10 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...
FTC Aims to Clamp Down on Companies Engaged in Unfair Competition
Nov 10 2022 // The US Federal Trade Commission plans to make wider use of its 1914 founding statute to police anticompetitive behavior by companies in the internet age. The Democratic-led commission on Thursday issued a new policy...
New SEC Disclosure Rules May Drive Up D&O Claims
Nov 10 2022 // SAN DIEGO — New rules proposed by the US Securities and Exchange Commission on cybersecurity and climate impact disclosures may generate more lawsuits that will generate claims against directors & officers policies,...
Aviva Plans ‘Regular and Sustainable’ Investor Payouts as Premiums Rise
Nov 9 2022 // Aviva plans “regular and sustainable” investor payouts, its CEO said on Wednesday, as the British insurer reiterated plans for a share buyback program alongside its 2022 results and posted a rise in nine-month...
BRP Group Posts 91% Revenue Growth, but Still Saw Loss in Q3
Nov 9 2022 // BRP Group, the parent company of the national brokerage known as Baldwin Risk Partners, announced a near-doubling of revenue for the third quarter of 2022 over this time last year, but it still saw a net loss of $47...
Florida Approves 8.4% Decrease in Workers’ Comp Rates Without Asking for More
Nov 8 2022 // The Florida insurance commissioner has approved a decrease in overall workers’ compensation rates for 2023, and he did not demand a sharper decrease from actuaries. The National Council on Compensation Insurance in...
Brazil’s BB Seguridade Raises Full-Year Forecasts as Q3 Profit Jumps 69%
Nov 7 2022 // Brazilian insurer BB Seguridade Participacoes SA raised some of its full-year forecasts on Monday after reporting a 69% jump in third-quarter profit on the back of a strong performance in insurance, pension plans and...
Inflation, Debt Crisis, Cost of Living Pose Top Business Risks in G20 Nations: Survey
Nov 7 2022 // Runaway inflation, an unfolding debt crisis and cost-of-living problems pose the biggest threats to doing business for G20 countries in the next two years, data from the World Economic Forum showed on Monday. Inflation has...
Ahem, Florida Lawmakers: State Insurance Market Badly Needs an Oil Change
Nov 7 2022 // As the Florida Legislature prepares for its 2nd Special Session on property insurance in 2022, it’s time we examine why our market sputtered out of control and discuss the necessary solutions to fix it. Many...
Oklahoma Work Comp Rates to Decrease 8.2% in 2023
Nov 7 2022 // Oklahoma Insurance Commissioner Glen Mulready announced that businesses should see another rate decrease in workers’ compensation insurance beginning on January 1, 2023. The Oklahoma Insurance Department has approved...
Bad Driving, Inflation Among Factors Pushing Increase In Auto Loss Ratios
Nov 7 2022 // U.S. auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and...
Agency E&O Premiums Rise Again; 3 Years in a Row, More Agencies Report Paying More for E&O Coverage
Nov 7 2022 // Agency errors and omissions premiums have risen on average for three years in a row, according to Insurance Journal’s annual Agency E&O survey. Some 70.5% of respondents saw an increase in their agency E&O...
Moody’s: Environmental Considerations Increasingly Pressuring Issuers’ Credit Profiles
Nov 3 2022 // A Moody’s Investors Service Report shows that 16 sectors holding $4.3 trillion in rated debt are exposed to high or very high environmental credit risk. That’s more than twice as much as when the Paris...
Nationwide Catalytic Converter Theft Ring Taken Down in Raid
Nov 3 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...
Progressive Easing Up on Rate Hikes; Flo Coming Back to a State Near You
Nov 3 2022 // Progressive’s Flo won’t reappear on TV screens in every state, but the insurer she pitches for is comfortable pursuing business growth, company leaders said yesterday. That means potentially using more...
China’s Regulators Commit to Growth and Reforms, Seeking to Allay Foreign Concerns
Nov 2 2022 // China’s top financial regulators said on Wednesday that economic growth remains a priority and reforms and liberalization would continue, seeking to allay foreign investors’ fears that ideology could take...
Q3 Net Income Down 30% at The Hartford; $214M in Ian Losses
Oct 31 2022 // Compared to the same window last year, net income at The Hartford was down during the third quarter of 2022 – but core earnings were up during what the company’s CEO described as a strong stretch. Third quarter...
WTW Posts Drop in Q2 Net Income, Revises 2024 Outlook on Russia Losses
Oct 28 2022 // Third-quarter net income at broker WTW was $192 million compared to $907 million during the prior-year third quarter. Net income for the third quarter 2021 included the $1 billion income receipt that was received as a...
