Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
Insurers Are Working to Shore Up the $2 Billion Carbon Offset Market
May 24 2024 // Data fraud, questionable accounting practices and intensified catastrophes are just some of the issues that have battered the voluntary carbon market. Those misfortunes have helped spur a new line of business: Insurance...
California Advances Legislation Cracking Down on Auto Theft, Stolen Goods Resellers
May 24 2024 // The California Senate approved a bipartisan package of 15 bills this that would increase penalties for organized crime rings, expand drug court programs and close a legal loophole to make it easier to prosecute auto...
A.M. Best: Rapid Premium Growth Warrants Greater MGA Oversight
May 24 2024 // Though A.M. Best remains bullish on the delegated underwriting authority enterprises (DUAEs) market, it remains cautious of the risk managing general agents (MGAs) bring to insurers. In its latest market segment report,...
NOAA Chimes in With Prediction of Above-Average Atlantic Hurricane Season
May 23 2024 // The National Oceanic and Atmospheric Administration (NOAA) today predicted an 85% chance of an above-average Atlantic hurricane season, with up to 25 named storms. “The upcoming Atlantic hurricane season is expected...
UK’s Aviva Posts 16% Rise in Q1 General Insurance Premiums
May 23 2024 // Aviva posted a 16% rise in general insurance gross written premiums to 2.7 billion pounds ($3.44 billion) in the first quarter, helped by strong performance in Britain. Life and general insurer Aviva, which has its main...
Oil Shipments at Risk From Rising Sea Levels, Think Tank Warns
May 22 2024 // Rising sea levels could severely disrupt crude oil shipments and erode energy security in import-dependent countries like China, South Korea and Japan, with many of the world’s biggest terminals vulnerable to...
S&P: 2023 Marked Stall of Rapid Growth in US Cyber Insurance
May 22 2024 // S&P Global Market Intelligence weighed in on the U.S. cyber insurance marketplace, reporting that premium dipped in 2023 to end several years of rapid growth. The overall 0.7% decline in cyber insurance direct written...
Markets/Coverages: MGA OpenRoad Enters Collector Vehicle Insurance Market
May 21 2024 // Managing general agency Open Road Insurance announced its entry into the marketplace for collector vehicle auto insurance with its first license in Texas, and plans to launch in other U.S. states later this...
IICF to Gather Industry Leaders for Five Regional Forums on Future of Work and Belonging
May 21 2024 // Notable voices to share insights on leadership, talent, innovation and inclusion while giving back to those in need LOS ANGELES – May 14, 2024 – The Insurance Industry Charitable Foundation (IICF), a nonprofit...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
May 20 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, the...
AM Best Affirms Arrow Mutual’s Ratings, Revises Outlooks Citing Claim Dispute
May 20 2024 // 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 Arrow Mutual Liability...
Hawaii Study: Nearly 75% of Wildfire Survey Participants Have Respiratory Issues
May 20 2024 // A University of Hawaii study examining the health effects of last year’s deadly wildfires on Maui found that up to 74% of participants may have difficulty breathing and otherwise have poor respiratory health, and...
Report: Cybercrime ‘A Thriving Business’ as US Claims Frequency Rises
May 20 2024 // Cyber claims frequency in the United States rose 13% last year, a new report shows. According to the 2024 Cyber Claims Report published by Coalition, an insurer focused on digital risks, cybercrime is “a thriving...
Is an ESOP in Your Future? Don’t Overlook This Valuable Succession-Planning Tool
May 20 2024 // 2024 marks 50 years since Congress passed legislation codifying the tax benefits of employee stock ownership plans (ESOPs). Senator Russell Long, then chairman of the Senate Finance Committee, personally saw to it that...
Data Privacy, Human Trafficking Risks on the Rise
May 20 2024 // The world can at times feel smaller and more connected than ever before. And though there are many tangible benefits to such intermingling of markets, people and products, potential risks nevertheless remain. With greater...
FTC Noncompete Ban Includes Key Revisions, But Faces Uncertain Future
May 20 2024 // When the Federal Trade Commission (FTC) issued its final rule banning the use of most noncompete agreements, many insurance agents were naturally concerned by how the regulation might harm their businesses and the Big...
Security First Touts 5% Rate Decrease for HO-3, Renters Policies in Florida
May 17 2024 // Citing the stabilizing impact that legislative reforms have had on the Florida market, Security First Insurance Co. executives this week announced two residential property rate reductions of more than 5%. “For the...
Fitch Ratings: US Cyber Premium Growth Slows in 2023
May 17 2024 // The U.S. cyber insurance market saw what Fitch Ratings called an unexpected 1% decline in direct written premiums in 2023 following a 160% increase from 2020 to 2022. According to Fitch Ratings’ U.S. Cyber Insurance...
Popular SC Country Music Venue Shuts Down Due to Liquor Liability Insurance Costs
May 16 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 Post and Courier newspaper and other news outlets...
