Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
It’s Time to Roll up Our Sleeves and Rebuild the Florida Insurance Market
May 10 2023 // With the Florida legislative changes passed in December – prohibiting assignments of benefits and one-way attorney fees – there is now an opportunity to change the dynamic in Florida and create a more stable...
Q1 Commercial P/C Rates Hold Steady, Up 5%: MarketScout
May 8 2023 // In a “deliberate and modest fashion,” the composite rate for commercial property/casualty lines increased 5% during the first quarter 2023, according to MarketScout. The Dallas-based distribution and...
W.R. Berkley CEO Says Insurer Isn’t Going to Chase D&O Market ‘Down the Drain’
May 8 2023 // W.R. Berkley Corp. President and CEO Robert Berkley said the insurer is not going to follow the directors and officers market “down the drain.” During a call with analysts to discuss first quarter earnings,...
Overall Market Sees Greater Stability but Rates Still Up: Risk Strategies Report
May 8 2023 // Cybercrime is up, properties are underinsured, and the management liability market is softening. These are a few of the predictions and results revealed in the Risk Strategies 2023 State of the Market report, which...
Insurance Could Help Drive Gun Safety Efforts, Survey Says
May 5 2023 // Three out of four Americans believe gun owners should be required to have firearm liability insurance, according to a recent survey. Those are the numbers out of a new ValuePenguin survey of 1,995 people ages 18 to 77...
AM Best Revises Outlook to Negative for Louisiana Farm Bureau Mutual
May 4 2023 // 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 Louisiana Farm Bureau Mutual...
Banks and Insurers Increasingly Move Away From Coal: Report
May 4 2023 // Banks and insurers are more frequently adding coal exclusion policies to their investments while those with existing policies are toughening them up despite record profits in the sector, according to a report on...
UK to Ban Cold Calls Selling Insurance and Crypto to Clamp Down on Fraud
May 3 2023 // The UK is to set to ban cold calls that sell financial products including insurance and cryptocurrencies in an effort to crack down on fraud, which costs the country around £7 billion ($8.7 billion) a year. Announcing its...
D&O Prices Plummeting: Record-Level Q1 Drop for Decade
May 3 2023 // The year-over-year decline in 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 in a new Aon report...
What to Expect: WTW Spring Commercial Insurance Forecasts Mixed
May 3 2023 // In striking contrast to last year’s double-digit rate hikes for public directors and officers liability insurance and 100-200% jumps for cyber coverage, some buyers renewing those coverages this spring won’t...
MGAs, DUAEs Sparked Double-Digit Growth in 2022 U.S. Premiums: AM Best
May 3 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 percent to $67.6 billion, according to a...
Markets/Coverages: RSA Insurance Launches Superyacht Practice, Led by Chubb’s Grew
May 2 2023 // RSA Insurance announced it is launching a Superyacht practice, providing comprehensive cover for the larger end of the market, which is traditionally professionally skippered and crewed. The practice will be led by Emily...
Economic and Cyber Risks Lead Global D&O Concerns: Survey
May 2 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...
New Risk Retention Group Requirements in Question as Fla. Session Winds Down
May 2 2023 // Risk retention groups may not be the sexiest of insurance topics, but they have gained new attention this week after the Florida House of Representatives approved a bill that would require strong financial ratings for the...
J.D. Power: Rising Premiums Tighten Auto Insurance Market as Customers Shop Deals
Apr 28 2023 // State Farm Tops List of Large Insurers Providing Satisfying Shopping Experience, While The Hartford Ranked Highest Among Midsize Insurers Saving money is the primary focus of consumers searching for auto insurance,...
Insured Losses for Southeast Australia Floods of October 2022 Rise to A$907M: PERILS
Apr 28 2023 // Insured losses for floods that hit Southeast Australia in October 2022 have risen to A$907 million (US$600.2 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe...
Rising Oil Prices Complicate Russian Price Cap Checks for Insurers
Apr 28 2023 // Key figures in the insurance industry said rising Russian oil prices are making it harder for them to know if they can lawfully cover Russian cargoes. Since December, buyers of Russian crude oil have only been allowed to...
Cyber Insurance Rate Hikes Moderate, While Property Prices Rise in Most Regions: Marsh
Apr 27 2023 // Average global cyber insurance prices continued to moderate in the first quarter, with average price increases of 11%, compared to 28% in Q4 2022, according to the Global Insurance Market Index published by insurance...
Russia’s Lavrov Blames West for Deadlock Over Future of Black Sea Grain Deal
Apr 26 2023 // Moscow has seen “practically no results” from a pact with the United Nations that aimed to help Russia’s grain and fertilizer exports and blamed Western countries for creating a deadlock, Foreign Minister...
W.R. Berkley CEO Says Insurer Isn’t Going to Chase D&O Market ‘Down the Drain’
Apr 24 2023 // W.R. Berkley Corp. President and CEO Robert Berkley said the insurer is not going to follow the directors and officers market “down the drain.” During a call with analysts to discuss first quarter earnings,...
