Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Otis Likely to Be One of Costliest Hurricanes for Mexico Insurance Market: Gallagher Re
Oct 30 2023 // Hurricane Otis is expected to be one of the costliest natural catastrophe events in Mexico’s history with initial economic losses expected to top US$10 billion, according to Gallagher Re. Further, insured losses are...
A Decade After Superstorm Sandy, 2 Major Flood Control Projects Begin in New Jersey
Oct 30 2023 // A decade after they were first envisioned in the aftermath of Superstorm Sandy ‘s destruction, two of the largest flood control projects designed to protect the densely populated cities of New Jersey that lie just...
Auto Claims Satisfaction Scores Are Up Despite Longer Repairs; Amica Tops List
Oct 27 2023 // An auto parts shortage combined with longer cycle times for repairs has contributed to repairs taking an average of about 23 days in 2023, up an average of a little more than 6 days from 2022 and more than double the...
Derailment Costs Grow for Norfolk Southern but Railroad’s Trains Moving More Smoothly
Oct 27 2023 // Norfolk Southern’s costs related to the East Palestine derailment have grown to reach nearly $1 billion, but the railroad`s service is improving and its insurance companies have started to pay their share of the cost...
Kentucky Approves 18th-straight Decrease in Workers’ Comp Loss Costs
Oct 26 2023 // Kentucky’s Insurance Commissioner has approved a 6.4% decrease in average workers’ compensation loss costs for the state, making it the 18th consecutive drop in costs for most Kentucky employers. “The...
Acapulco’s Economic Losses Seen at $15 Billion as Hurricane Otis Death Toll Rises
Oct 26 2023 // Hurricane Otis left a trail of destruction in Acapulco after tearing into the historic Mexican beach town with wind speeds of 165 miles (266 kilometers) per hour, smashing shops and wrecking apartment buildings and...
Texas Cities Struggle to Quit Coal Power as Demand Rises and Market Incentives Favor Fossil Fuels
Oct 23 2023 // Two dates in recent memory have shaped the uncertain future of the Fayette Power Project, a coal-fired power plant near La Grange. First, on March 26, 2020, the Austin City Council approved an emissions-reduction plan that...
Report: ‘Climate-Exacerbated Wildfires’ Cost U.S. $394B-$893B Each Year
Oct 23 2023 // “Climate-exacerbated wildfires” cost the nation $394 billion to $893 billion each year in economic costs and damages, according to a Congressional report out this week. The range combines estimates from...
UK Staff Coming Into the Office Now Outnumber Hybrid Workers: Survey
Oct 23 2023 // British workers coming into the office every day outnumber those who spend part of the week working from home, for the first time since the end of pandemic restrictions. A survey by recruitment company Hays Plc of nearly...
Uber Driver Must Face Injury Claim for Picking Up Passenger 2 Feet From Curb
Oct 19 2023 // Uber and one of its New York drivers who failed to pull within a foot of the curb when picking up a passenger must face a negligence lawsuit after all. A lower court had dismissed the negligence suit against Uber and the...
Startup Climeworks Battles Big Oil for the $1 Trillion Future of Carbon Capture
Oct 19 2023 // Most everyone who’s committed their career to solving the climate crisis comes to the field because they have something they want to save. It’s the mountains for Christoph Gebald, whose startup, Climeworks AG,...
Travelers Q3 Net Income Down 11% on Catastrophe Losses, Reserve Development
Oct 18 2023 // Third quarter net income at Travelers Cos. fell 11% compared to the prior-year quarter to $404 million on higher catastrophe losses and unfavorable reserve development. As one of the first insurers to report quarterly...
UK Commercial Property Defaults Rise as Rate Hikes Hit Borrowers
Oct 17 2023 // The number of soured commercial real estate loans has begun to rise in the UK as the rapid increase in interest rates feeds through to property valuations. The overall default rate on UK commercial real estate debt reached...
Florida Citrus Forecast Improves Over Last Year When Hurricanes Hit State
Oct 16 2023 // The forecast for Florida citrus, the state’s signature crop, is expected to improve in the upcoming season compared to last year when twin hurricanes battered the state at the start of the citrus season, according to...
AM Best Tweaks State Farm Outlook to Negative After Weather, Regulatory Issues
Oct 16 2023 // The AM Best financial rating firm has downgraded its outlook for multiple State Farm insurance companies due to weather losses and regulations that the rating firm said hinder the insurance giant’s ability to...
Rising Claims Costs Limit US P/C Profitability in 2023: Swiss Re
Oct 16 2023 // While the profitability outlook for the U.S. P/C industry this year is mixed, Swiss Re predicts a stronger year in 2024, as premium increases and interest rates improve industry results. According to the U.S. Property...
Homeowners Face Rising Insurance Rates as Climate Change Makes Wildfires, Storms More Common
Oct 16 2023 // A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a new report...
Report Examines 10-Year California Workers Comp Payment Trends
Oct 16 2023 // Average paid losses on California workers’ compensation lost-time claims fell immediately after legislative reforms of SB 863 took effect a decade ago, but then gradually increased up until the pandemic hit,...
3 Emerging Risks to Watch: Rising Lumber Costs, Solar Flares, Underground Climate Change
Oct 16 2023 // The risk landscape is seemingly ever-expanding. While the insurance industry faces the familiar — yet more costly — severe weather activity, there may be new risks emerging below the surface and above the...
Redefining ‘Protection’ to Build a More Resilient Future
Oct 16 2023 // Most American consumers and business owners share concerns about the year ahead as economists debate whether a soft or hard landing is in store for the U.S. These concerns, driven by sticky inflation and rising interest...
