Most Popular Trends Headlines This Year
The most viewed headlines from our Trends Topic Page over the last year.
#1 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...
#2 First Sweeping Federal Gun Crime Report in 20 Years Released
Feb 7 2023 // The most expansive federal report in over two decades on guns and crime shows a shrinking turnaround between the time a gun was purchased and when it was recovered from a crime scene, indicating firearms bought legally are...
#3 Hurricane Ian Losses Up to $47B in Florida, Sinking More Insurers, CoreLogic Calculates
Sep 30 2022 // Wind and storm-surge losses from Hurricane Ian could reach as $47 billion in Florida alone, a figure made larger by inflation and rising interest rates, the property analytics firm CoreLogic said in a new...
#4 Georgia Insurance Commissioner Slams Allstate’s 25% Auto Rate Increase
Aug 22 2022 // The Georgia insurance commissioner is publicly shaming one of the country’s largest auto insurers after the carrier announced an average 25% rate increase in the state. “I am angry and disappointed that...
#5 Florida Gov. DeSantis Signs Bill Seeking to Stabilize Insurance Market
Dec 19 2022 // Florida Gov. Ron DeSantis signed a sweeping property insurance bill on Friday. How much and when it will work to stabilize the stormy market are among the questions being asked. One of the key goals of the legislation is...
#6 With Less Reinsurance for Reinsurers, Prices Set to Rise Again for Florida Carriers
Oct 25 2022 // It has been three weeks since Hurricane Ian struck Florida on Sept. 28, 2022. The storm took at least 119 lives and caused estimated insured losses ranging from $31 billion to $74 billion, with most estimates in the $60...
#7 Many Insurtechs Exit the Marketplace, and Other 2023 Predictions From Forrester
Dec 6 2022 // More than a quarter of insurtechs will leave the insurance marketplace in 2023 – just a couple years after investments in the space were at an all-time high, according to predictions from research and consulting firm...
#8 Credit Outlook for Allstate’s Florida Unit is Negative, Reflects Deteriorated Surplus
Mar 14 2023 // The AM Best financial rating firm’s tepid outlook for Allstate’s Florida subsidiaries, Castle Key Insurance Co. and Castle Key Indemnity Co., has raised new questions about the subsidiaries’ and their...
#9 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...
#10 Ahem, Florida Lawmakers: State Insurance Market Badly Needs an Oil Change
Nov 7 2022 // As the Florida Legislature prepares for its 2nd Special Session on property insurance in 2022, it’s time we examine why our market sputtered out of control and discuss the necessary solutions to fix it. Many...
#11 Florida Insurance Commissioner Resigns, Gives No Reasons or Future Plans
Dec 15 2022 // Florida’s insurance commissioner on Thursday announced his resignation, effective Dec. 28, surprising some in the industry despite rumors that have swirled for the past few days. David Altmaier, who has been in the...
#12 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...
#13 Allstate Readies Investors for Q4 Loss of Up to $335M
Jan 19 2023 // Allstate Corp. on Wednesday said it expects to end 2022 in the red with a net loss of between $285 million and $335 million for the fourth quarter, and a combined ratio of 109.1. Estimated adjusted net loss for the quarter...
#14 Rising Auto Rates Affecting ‘Bundle’ Strategy: J.D. Power
Sep 21 2022 // Bundling home and auto insurance may have hit a roadblock as consumers have started to break up policies largely due to increases in auto insurance premiums, according to J.D. Power. Overall satisfaction and retention...
#15 Much of the Country to Bake Under 125-Degree Days in Coming Decades, Report Finds
Aug 16 2022 // In just 30 years, more than a quarter of the United States, including a large patch of the Upper Midwest, will face days with temperatures above 125 degrees and will see almost three times as many days above 103 degrees,...
#16 Auto Claims Inflation Speeds Ahead of Premium Increases
Jul 24 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...
#17 Cyber Insurance Market Back From Brink After Onslaught of Ransomware Attacks
Feb 27 2023 // The cyber-insurance market, battered by a rash of pandemic-era ransomware attacks, is making a comeback. Price hikes are moderating, new carriers and fresh sources of capital are emerging, and companies can better afford...
#18 Lemonade Records Net Loss, Top and Bottom Line Growth
Nov 18 2022 // Insurtech Lemonade booked a third-quarter net loss of $91.4 million compared with a net loss of $66.4 million during the same quarter last year, but in a letter to shareholders, the company said both top and bottom lines...
#19 Bad Driving, Inflation Among Factors Pushing Increase in Auto Loss Ratios
Oct 27 2022 // US auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and...
#20 Progressive CEO: Early Rate Actions Helped Growth
Feb 28 2023 // Progressive Corp. posted full-year 2022 net income of $721.5 million, down about 78% from net income of $3.35 billion the prior year, due to losses in its investment portfolio. However, Chief Executive Officer Tricia...
