Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Estimate of Losses From Devastating Hawaii Wildfires Increases to $14B-$16B
Aug 14 2023 // AccuWeather increased its estimate of the total damage and economic loss from the devastating wildfires burning in Hawaii to $14 to $16 billion. The update follows AccuWeather’s preliminary estimate last week of...
Rising Flood Risks Threaten Many Water and Sewage Treatment Plants
Aug 14 2023 // The crack of a summer thunderstorm once comforted people in Ludlow, Vermont. But that was before a storm dropped eight inches of rain on the village of 2,200 in two days last month. And it was before the devastation of...
NOAA Increases Prediction for Atlantic Hurricane Season to “Above-Normal”
Aug 11 2023 // The National Oceanic and Atmospheric Administration is increasing its prediction for the ongoing 2023 Atlantic hurricane season to “above-normal” activity. Warmer-than-normal sea surface temperatures across...
Surplus Lines Premium Increases 16% to Nearly $36 Billion Through June
Aug 10 2023 // Surplus lines premium reached nearly $36 billion through the first six months of 2023, according to the 2023 Midyear Report of the U.S. Surplus Lines Service and Stamping Offices. Premium increased about 16% overall...
Lloyd’s Leads Insurers in Raising Rates, Cutting Taiwan Cover as Conflict Risks Rise
Aug 10 2023 // Lloyd’s of London underwriters are leading insurers in raising rates and cutting the amount of cover they offer for risks involving Taiwan as concerns grow over possible military action by China, industry sources...
NC DOI Arrives at 4.5% Increase in Auto Rates for Next Two Years, 9.9% on Dwelling
Aug 9 2023 // North Carolina’s insurance commissioner has negotiated a smaller increase on auto insurance rates than the state’s rating agency had requested. The North Carolina Rate Bureau in February requested an average...
Cargo Theft Increased 57% in Q2; High-Value Shipments Targeted
Aug 9 2023 // There were 582 supply chain events reported across the United States and Canada in the second quarter of 2023, a 57% increase when compared to the second quarter of 2022, according to the latest CargoNet report. Ongoing...
TWIA Board Votes Down Recommended Rate Increases
Aug 9 2023 // Though an analysis found rates at Texas’ insurer of last resort to be about 20% inadequate, its board on Tuesday did not come to an agreement to file for any rate increases. The board of the Texas Windstorm Insurance...
Business Owners Seek Increased Insurance Protection Amid Mounting Risks: Gallagher
Aug 9 2023 // An overwhelming number of business owners in the United States are looking to expand their insurance coverage amid risks ranging from climate change to cyber attacks, a study by global insurance brokerage Gallagher showed...
Insured Loss Estimate for Turkey Earthquake Rises to US$3.4 Billion: PERILS
Aug 8 2023 // The third loss estimate for the Kahramanmaras Earthquake Sequence, which hit large parts of south-central Turkey and neighboring Syria on Feb. 6, 2023, has risen to $3.4 billion, according to PERILS, the independent...
Massive Citizens Takeout Plan Seen as Sign That Things Are Looking Up in Florida Market
Aug 7 2023 // Stakeholders near and far are hailing a near-record number of takeouts from Citizens’ Property Insurance Corp. as a sign that the troubled Florida insurance market is improving, even if it will likely mean higher...
Ukraine Black Sea Attacks Signal Expanding War; Russia Insurance Costs Likely to Rise
Aug 7 2023 // The footprint of President Vladimir Putin’s war on Ukraine is growing fast after a weekend in which sea drones crippled a Russian naval vessel and an oil tanker. For the first time, the attacks put at risk...
Auto Claims Inflation Speeds Ahead of Premium Increases
Aug 7 2023 // Insurance claims inflation has risen faster than the underlying consumer price index (CPI), outpacing auto insurance premium increases, according to a new study, Auto Insurance: The Uncertain Road Ahead, by the American...
Slovenia Hit by Worst Floods in More Than a Decade, Killing Several People
Aug 4 2023 // Several people were killed in Slovenia as the southern European nation was hit by some of the worst flooding in more the decade, with rapidly rising waters submerging towns in the country’s north. The Slovenian...
Forecasters Stress Uncertainty in Latest Hurricane Forecast
Aug 4 2023 // Forecasters from Colorado State University (CSU) stressed uncertainty in their latest outlook on Thursday for the current Atlantic hurricane season, even as they held steady the number of storms expected. This year’s...
Report: Auto Insurance Premiums Rise 17% in H1 of 2023
Aug 3 2023 // Car insurance premiums are skyrocketing primarily due to rising auto parts costs and extreme weather, according to virtual insurance agent platform Insurify’s Q3 2023 Mid-Year Auto Insurance Trends Report. In the...
Insuring the Future: How Gen Z Digital Natives Are Transforming Insurance
Aug 2 2023 // Powered by InsuranceJournal.tv Generation Z insurance consumers – or those born between roughly 1997 and 2012 – want the insurance process to be authentic, honest, and immediate. That’s according to guests on The...
The Future of Variable Lines Broker Management
Aug 1 2023 // This post is part of a series sponsored by AgentSync. Key takeaways: What automation looks like for variable lines compliance How automated broker compliance can help or harm carrier reputations Why broker preferences are...
Viewpoint: Innovation Trends Through the Lens of Qorus-Accenture Innovation Awards
Aug 1 2023 // The winners of the Qorus-Accenture Innovation in Insurance Awards were announced recently at a live ceremony in Milan, bringing together the industry’s trendsetters and pioneers. Now in its eighth year, this program...
Study: Motor Vehicle Thefts Soar in First Half of 2023
Jul 28 2023 // During the first half of 2023, vehicle thefts soared while most other crimes declined, according to a new study of crime trends in 37 cities released this week by the Council on Criminal Justice. Continuing an upward...
