Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Viewpoint: Could Increasing Ransomware Frequency Bring Back Repeat of Hard Market?
May 25 2023 // Insurance pricing is cyclical. When loss ratios are sustainably higher, over time prices rise in response, creating a hard market. The last hard market in cyber was in 2021 when an onslaught of ransomware and high-profile...
Generali Confirms 2024 Targets After Q1 Profits Rise on Strong Non-Life Performance
May 25 2023 // Italy’s Generali confirmed all its 2024 business plan targets on Thursday after first quarter profits rose on a strong non-life performance which more than offsetting weakness in the insurer’s life...
Rising Premiums Tighten Auto Insurance Market as Customers Shop Deals: J.D. Power Study
May 22 2023 // Saving money is the primary focus of consumers searching for auto insurance, according to the J.D. Power 2023 U.S. Insurance Shopping Study. Now in its 17th year, the report highlights the increasing focus on cost as...
MGAs, Delegated Underwriting Authority Enterprises Sparked Double-Digit Growth in 2022 U.S. Premiums: AM Best
May 22 2023 // Direct premium written through the delegated underwriting authority enterprises (DUAE) market in the United States continued its significant growth rate in 2022, increasing by 13.8% to $67.6 billion, according to a new...
D&O Prices Plummeting: Record-Level Q1 Drop for Decade
May 22 2023 // The year-over-year decline in directors and officers (D&O) insurance prices for the first quarter of 2023 is greater than any prior drop over a comparable period in more than a decade, historical information presented...
Economic and Cyber Risks Lead Global D&O Concerns: Survey
May 22 2023 // At the top of increasing concerns for directors and officers around the globe are economic, geopolitical and cyber risks, according to the latest Directors and Officers Liability 2023 Survey released by Willis Towers...
Frequency Declines But Lost Time Claims Costs Rise in Restaurant Workers’ Comp: Marsh
May 22 2023 // A shortage of workers in the restaurant industry is leading to more expensive and complex claims in workers’ compensation even as claim frequency declines, according to a recent report and webinar. Marsh recently...
Optimizing Agency Relationships: A Data-Driven Approach to Premium Growth
May 22 2023 // The reported demise of the independent insurance agency as a sales and distribution channel has been greatly exaggerated. Over the course of a decade or more of predictions about the growth of the direct-to-consumer...
New Trend: Cannabis Consumption Lounges
May 22 2023 // The cannabis industry continues to evolve, with 39 states and the District of Columbia having legalized cannabis on a medicinal level, and 21 states and D.C. allowing cannabis for recreational use. While the market has...
TypTap Insurance President Talks About Insurtech’s First Profit, Future
May 19 2023 // When HCI Group’s TypTap Insurance launched in 2016, it created a buzz in the industry and some skepticism, due to the company’s plan to rely heavily on mapping technology and property data. This month,...
Commercial Property Premiums Up Over 20% to Start 2023: CIAB
May 18 2023 // Commercial property premiums increased more in the first quarter than they have in more than 20 years as the first three months of the year marked the 22nd straight quarter of overall premium increases, at 8.8%, according...
North Carolina Mobile Home Insurance Rates to Rise 15%, Starting in October
May 18 2023 // North Carolina’s insurance commissioner has negotiated a 15% average statewide increase in rates for mobile home insurance policies, a reduction from the hefty hike that the state’s rate bureau had...
Survey: Texas Employer Participation in Workers’ Comp System up to 75%
May 17 2023 // A survey from the Texas Department of Insurance, Division of Workers’ Compensation’s Research and Evaluation Group found that employer subscription in workers’ comp increased to 75% in 2022, up from 72%...
Clients Buy Higher Limits as Q1 Cyber Increases Follow Moderation Trend: Marsh
May 15 2023 // For the fifth straight quarter, pricing increases for cyber insurance continued to fall at the start of 2023. According to a new U.S. Cyber Purchasing Trends report from broker Marsh, prices were up 11% in first quarter...
AXA’s Capital Buffers Beat Expectations as Q1 Sales Rise
May 15 2023 // AXA, Europe’s second-biggest insurance company, posted a better-than-expected key capital buffer measure in the first quarter, reassuring investors on its capacity to generate cash as it navigates a higher interest...
Catalytic Theft Claims Triple in Two Years, Crime Bureau Report Finds
May 12 2023 // Insurance claims for catalytic converter thefts nationwide jumped by 288% in just two years, the National Insurance Crime Bureau said in a new report. Claims rose from 16,660 in 2020 to 64,701 in 2022. Half of the thefts...
Auto Claim Severity Up 35% over Pre-Pandemic Rates – LexisNexis Report
May 12 2023 // Claim severity for bodily injury and property damage increased by 35% since 2019, while collision claim severity has jumped 40%, LexisNexis Risk Solutions says in a new report. The data broker’s 2023 U.S. Auto...
Insurtech Funding Up 38% Over Q4 2022: Gallagher Re
May 11 2023 // Insurtech funding increased nearly 38% from Q4 2022 to Q1 2023, from about $1 billion to about $1.4 billion, according to a new analysis released by Gallagher Re. The U.S. leads France and the UK as the nation funding the...
Hyundai and Kia Thefts Keep Rising Despite Security Fix
May 10 2023 // Nearly three months ago, Hyundai and Kia unveiled software that was designed to thwart an epidemic of thefts of their vehicles, caused by a security flaw that was exposed on TikTok and other social media sites. So far, it...
Cyber Hack to Cost UK Outsourcer Capita Up to $25M
May 10 2023 // British outsourcing company Capita warned it would take a 15 million pound to 20 million pound ($25 million) hit after its systems were hacked in a cyber incident earlier this year. Capita, which provides business support...
