Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Global Carbon Emissions From Fossil Fuels to Hit Record Peak in 2023: Report
Dec 5 2023 // The Global Carbon Project, an international collaboration of scientists, estimates that worldwide carbon dioxide emissions from burning fossil fuels will rise 1.1% this year over 2022, to 36.8 billion metric tons....
War Risk Insurance Rates Edge Up After Surge in Red Sea Ship Attacks
Dec 5 2023 // War risk insurance premiums edged up for Red Sea voyages after three vessels were attacked in the area on Sunday and fears grow over worsening perils for commercial shipping, maritime and insurance sources said on...
US Personal Lines Outlook Continues to Be Negative: AM Best
Dec 4 2023 // The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September 2022 – at first due in...
Australia Faces Increased Risk From Bushfires Ahead of El Niño Summer
Dec 4 2023 // Australia faces an increased risk of bushfires during the approaching summer, authorities warned on Thursday, with the El Niño weather pattern expected to generate hotter and drier conditions across large swathes of the...
Hillary Clinton Calls for Reform of Insurance Sector at COP28 Climate Talks
Dec 4 2023 // Former U.S. Secretary of State Hillary Clinton called on Sunday for reform of the insurance sector, where companies are increasingly withdrawing assistance against climate shocks. Lower-income countries and workers in...
People Moves: Symphony Grow Names Sampson Senior Director of Legal Affairs and Risk Management
Dec 4 2023 // Symphony Grow, the specialty business of Symphony Risk Solutions, appointed Michael H. Sampson as senior director of legal affairs and risk management. Sampson joins Symphony from Leech Tishman Fuscaldo & Lampl, where...
Industry Trends to Exploit for 2024
Dec 4 2023 // Agency owners must watch and learn about major trends when they start. Following are key trends that insurance agencies should be tracking for 2024. 1. Insurtech Several trends are emerging in the insurtech...
Despite Insurance Costs, Lux Condos Going Up: Miami Tower to Have $150M Penthouse
Dec 1 2023 // (Bloomberg) — A roughly 13,000-square-foot, full-floor penthouse and roof at the Rosewood Residences, a 17-story condo tower designed by Peter Marino in Miami’s South Beach, could soon be the most expensive in...
Nigeria’s Worst Flood in Decade Caused Billions in Economic Damage
Dec 1 2023 // Nigerian floods last year that claimed hundreds of lives also caused up to $9 billion in damage, according to a report from the National Bureau of Statistics. The assessment, conducted in collaboration with the World Bank,...
Washington Workers’ Comp Premium Rate Going up an Average of 4.9% in 2024
Dec 1 2023 // The Washington State Department of Labor & Industries announced a 4.9% increase in the average workers’ compensation premium rate for 2024. The increase, which takes effect Jan. 1, 2024, means employers and...
World to Hit 2.5F of Warming During 2023 as Hottest Year on Record
Nov 30 2023 // With a month to run, 2023 will reach global warming of about 1.4 degrees Celsius (2.5 Fahrenheit) above preindustrial levels, adding to “a deafening cacophony” of broken climate records, the World...
Reinsurance Market Outlook ‘Stable’ on Improved Rates, Higher Demand: AM Best
Nov 30 2023 // Substantial rate improvements, higher attachment points and rising investment income are combining with increased demand for reinsurance cover to create a stable outlook for the global reinsurance sector, according to AM...
Q3 2023 Signals Six Years of Premium Increases for Commercial Lines: CIAB
Nov 30 2023 // Overall commercial property/casualty premiums increased slightly more than 8% on average in the third quarter, marking six full years of steady increases. According to The Council of Insurance Agents and Brokers’ Q3...
Michigan Joins Four Other States in Requiring 100% Carbon-Free Energy by 2040
Nov 29 2023 // LANSING, Mich. (AP) – Michigan is on the verge of implementing one of the nation’s most ambitious clean energy mandates, aiming to be carbon-free by 2040 in what is a pivotal test of the Democrats’...
Chubb Survey of Middle-Market Brokers Finds Lack of Awareness of Flood Risk
Nov 29 2023 // Though the risk of flooding is undeniable, a survey by Chubb of brokers with middle-market commercial clients revealed just 16% of them say more than half their clients buy flood insurance. Furthermore, 65% of the more...
P/C Insurers Face Challenging Claims Dynamics as Frequency, Severity Rise: Swiss Re
Nov 28 2023 // The property/casualty insurance industry is confronting challenging claims dynamics, with rising frequency and severity of claims despite decreases in economic inflation, according to Swiss Re. The pace of claims growth in...
Reinsurers Cautious About US Regional Property Cat as Storm Losses Rise: Gallagher Re
Nov 22 2023 // After a costly 2023 severe convective storm season in the US, reinsurers underwriting in the regional property catastrophe market are skeptical about providing frequency cover, but their overall appetite remains healthy,...
Governments Increasingly Will Foot Bill for Climate Risks as Insurers Exit: Report
Nov 22 2023 // As insurers start to pull out from markets battered by the fallout of climate change, governments are increasingly at risk of having to foot the bill, according to the Bank for International Settlements. “This trend,...
Reinsurers’ Earnings Rise on Lower Disaster Losses, Improved Investment Results: Fitch
Nov 21 2023 // Lower natural catastrophe losses, a better investment result and strong revenue growth in property/casualty reinsurance led to strong earnings’ increases for the four main European reinsurers in the nine month-period...
Ending Polarization and Building Future Leaders: Travelers CEO
Nov 20 2023 // Challenges facing today’s business leaders include keeping pace with rapid change, the leader of Travelers said in late October while also going out of his way to cast light on a serious obstacle to forward progress:...
