All the headlines from our Trends Topic Page, ordered by recency.
Nov 9 2023 // Insurance industry rating agency AM Best has upped its view of the excess and surplus market as it continues to absorb business from the admitted market.AM Best on Monday changed its U.S. E&S outlook from...
Nov 8 2023 // Ivan’s Index for the third quarter found the average premium renewal rate increased for all major commercial lines of business except workers’ compensation.Compared to the same period a year ago, Q3 2023...
Nov 8 2023 // The number of insurance claims filed for catalytic converter thefts plummeted this year after rising dramatically in 2021 and 2022.National Insurance Crime Bureau data shows that as of Sept. 30, the number of claimed...
Nov 7 2023 // The Texas Windstorm Insurance Association (TWIA) expects policy count to continue to grow in 2024, the association’s Board of Directors said at an Oct. 31 meeting to review information related to the 2024...
Nov 6 2023 // Losses resulting from severe convective storms are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting projections by actuaries at the Insurance...
Nov 6 2023 // CHESHIRE, CT., November 6, 2023 — In a testament to its unwavering commitment to excellence and sound financial practices, HAI Group’s Financial Strength Rating (FSR) of ‘A’ and Issuer Credit Rating...
Nov 6 2023 // Fewer agencies reported increases in premium on their agency errors and omissions renewal policies from 2022 to 2023, according to Insurance Journal’s annual Agency E&O survey which polls buyers of the coverage...
Nov 6 2023 // The transportation market is experiencing lower freight rates and excess capacity as fewer loads are shipped with demand for goods down from its pandemic-era peak. The trucking sector in particular is encountering...
Nov 2 2023 // The California FAIR Plan Association is offering increased commercial coverage of up to $20 million per location. Prior to the adjustment, the maximum limits for commercial coverage were $8.4 million per location. Business...
Nov 2 2023 // Markel said Bryan Sanders, president of its Markel Specialty division, plans to retire by December 31, 2024.Sanders, who joined Markel in 2013 as part of the Alterra Capital Holdings, Ltd. acquisition, has more than 42...
Nov 2 2023 // A new report shows a 14.3% increase in California’s new vehicle registrations compared to the first nine months of 2022 pushed by rising electric vehicle sales.The 3rd quarter 2023 Auto Outlook report from the...
Nov 1 2023 // Challenges facing today’s business leaders include keeping pace with rapid change, the leader of Travelers said last week while also going out of his way to cast light on a serious obstacle to forward progress:...
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...
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...
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...
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...
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...
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...
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...
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 existing...