Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Carolina Homeowners Give an Earful on Proposed 42% Average HO Rate Increase
Jan 23 2024 // North Carolinians have had plenty to say about a proposed homeowners insurance rate increase that could, on average, raise rates in the state by double digits. At a public forum held online and in Raleigh, homeowners...
Are Florida Insurance Premiums Hurting the Real Estate Market? Sales Down, Prices Up
Jan 22 2024 // State and national news reports have raised questions about the impact that high property insurance premiums in Florida have had on the real estate market and if the costs are prompting some residents to consider moving...
Trends in Auto Thefts Add to Rising Claim Costs
Jan 22 2024 // Vehicle theft rates continue to put pressure on the personal auto insurance market. CCC Intelligent Solutions said in its year-end report that the number of vehicle thefts in the U.S. increased 2% in the first half of 2023...
Changing Risks Shape the Future of Agency E&O: Webinar
Jan 22 2024 // While today’s insurance agency errors and omissions (E&O) market remains mostly stable, emerging exposures, cyber risk, natural disasters and more could shape its course ahead. That’s according to experts...
Majority of Underwriters Predict Cyber Risks Grow ‘Greatly’ in 2024: Survey
Jan 18 2024 // Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters...
Vermont Continued to See Steady Growth in Captives in 2023
Jan 17 2024 // The Vermont Department of Economic Development reported the state licensed a total of 38 new captive insurance companies in 2023, making it now home to 659 captives. That growth made 2023 one of the best years since...
Red Sea War Risk Insurance Rises With More Ships in Firing Line
Jan 16 2024 // War risk insurance premiums for shipments through the Red Sea are rising after further attacks on merchant vessels by Yemen’s Houthi movement and the expectation that ships with a UK or U.S. connection will be...
Survey: Carrier Connectivity Top of Mind for Agents
Jan 16 2024 // Agents continue to favor carriers and MGAs that offer automation, ranking ease of doing business and time savings at the top of the list of value they get from connectivity, according to a newly released survey by...
OSHA Announces Penalty Increases for 2024
Jan 16 2024 // The Occupational Safety and Health Administration said it is slightly raising civil penalty amount for 2024, effective Jan. 16. The Department of Labor’s OSHA said maximum penalties for serious and other-than-serious...
Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI
Jan 16 2024 // A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates “are expected to increase, but not at the same pace as seen in 2023.” “Our forecast calls for 5% to 15% rate...
AM Best Revises Outlooks to Negative for Members of Enumclaw in Washington
Jan 11 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 Ratings of “a-” (Excellent) of Mutual of Enumclaw Insurance...
Progressive Files for 19.78% Auto Insurance Rate Increase in West Virginia
Jan 10 2024 // Less than a month after Farmers Direct Insurance filed for a hefty rate increase on West Virginia auto liability policies, Progressive has followed suit with an almost identical request. The West Virginia insurance...
MarketScout: 2023 US Commercial Composite Rate Up 4.56%
Jan 10 2024 // According to the MarketScout Market Barometer, U.S. commercial property/casualty insurance rates rose 5.6% in the fourth quarter of 2023, resulting in a total composite rate increase of 4.56% for the whole of...
Climate Change, Nuclear Verdicts Worry Wealthy North Americans: Chubb Survey
Jan 9 2024 // A new Chubb report has found that 76% of wealthy Americans and Canadians believe exposure to extreme weather due to climate change is among the biggest threats to their homes. Sixty-three percent of respondents to the...
Viewpoint: Cyber Insurance Market Themes to Look Out for in 2024
Jan 9 2024 // After my (relatively) successful effort in looking at 2023 cyber insurance themes, like a gambler on a streak of beginner’s luck, I wanted to have another roll of the dice in offering my thoughts on cyber insurance...
Viewpoint: Scoring Cyber Insurance Predictions of 2023
Jan 4 2024 // Twelve months ago in a rush of blood to the head, I wrote this article with a selection of cyber insurance themes I thought were pertinent for 2023. In the spirit of transparency, I thought I should mark my own homework,...
AM Best Downgrades Ratings of JRG Re; James River Group Gets Negative Outlook
Jan 2 2024 // AM Best has downgraded the financial strength rating of JRG Reinsurance (JRG Re) to B++ (Good) from A- (Excellent) and the long-term issuer credit rating to “bbb+” (Good) from “a-” (Excellent),...
Dyad Brand Launches to the P/C Insurance Market
Jan 2 2024 // Dyad, Inc., formerly XDimensional Technologies and I-Engineering, a provider of insurance software and services backed by Serent Capital, has launched today following XDimensional Technologies’ acquisition of...
Fatal Occupational Injuries in Texas Increased by 8% in 2022
Dec 28 2023 // Fatal occupational injuries in Texas rose by 8% in 2022. A report from the Texas Department of Insurance, Division of Workers’ Compensation (DWC) shows there were 578 workplace fatalities in private and...
Self-Driving Cars Could Be on UK Roads by 2026: Transport Minister
Dec 28 2023 // Self-driving cars could be on some British roads by 2026, the country’s transport minister Mark Harper said on Wednesday. Cars with full self-driving technology are not currently permitted on Britain’s roads...
