Category: Trends

January 25, 2023

J.D. Power has published the latest edition of its auto insurance quarterly shopping trends report, and found that in the fourth quarter of 2022, there was actually a noticeable increase in auto insurance shopping activity in America. The report – […]

January 17, 2023

As the World Economic Forum’s (WEF) Alliance of CEO Climate Leaders, which now includes 127 “seriously committed” executives from some of the world’s largest companies, continues to make progress, Christian Mumenthaler, CEO of reinsurance giant Swiss Re, is seeing the […]

January 11, 2023

The key areas of focus in 2023 will be: Financial resilience The combination of the on-going recession and high inflation provide a very challenging economic outlook for insurers. For life insurers, the PRA has identified the potential threat of firms […]

January 4, 2023

P&C insurer Chubb, has announced the launch of a new global climate business unit, drawing on the company’s technical capabilities in underwriting and risk engineering, and also bringing together Chubb units engaged in traditional, alternative and renewable energy, climate tech, […]

December 14, 2022

Analysts at KBW have reported that secondary perils that had previously been reinsured are now being “aggressively pushed back” toward primary insurers ahead of the January 1st reinsurance renewals. KBW provided some comments on the state of the global reinsurance […]

December 13, 2022

US commercial insurance prices rose again during the third quarter, according to new data from global broker WTW. WTW’s Commercial Lines Insurance Pricing Survey compared prices charged on policies written during Q3 to those charged for the same coverage during […]

December 8, 2022

Travel insurance has bounced back in a big way after two years of pandemic travel restrictions. As people return to taking personal trips and holidays, they’re prioritizing safety and peace of mind. Shannon Lofdahl (pictured), president and CEO of Travelex […]

December 8, 2022

Health insurance premiums across the US can range between $320 and $840 monthly per person, which can be a steep price to pay for some American families. This may not be a cause of concern for many of the gainfully […]

December 2, 2022

A new report by the Bermuda Monetary Authority (BMA) has concluded that use of artificial intelligence and machine learning technologies in the Bermuda re/insurance market is still currently in its infancy, but is set to pick up significantly over the […]

November 28, 2022

The Coalition Against Insurance Fraud has released a report estimating that annually, insurance fraud costs the US $308.6 billion. In 1995, the Coalition estimated this number at $80 billion, though at the time, only the property & casualty insurance line […]

November 18, 2022

Convinced that the boom in leisure travel is permanent, Airbnb aims to expand its listings by convincing more people to turn their homes into short-term rentals. The company said Wednesday that it will increase the amount of liability coverage for […]

November 17, 2022

The insurance industry is forecasted to return to premium growth of 2.1% annually on average in real terms in 2023 and 2024 following total global premiums falling by an estimated 0.2% in real terms in 2022 due to inflation, which […]

November 10, 2022

A new report from Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, shines a light on current global M&A insurance claims trends. The Liberty GTS 2022 Claims Briefing includes detailed information about the types of M&A deals and […]

November 9, 2022

“What are the hardest lines of insurance to write for cannabis businesses?” That question took Stephanie Bozzuto, co-founder of Cannabis Connect Insurance, down a long mental list. Bozzuto has been in the insuring cannabis business for years, so she knows […]

November 2, 2022

As with any journey worth taking, the road to comprehensive diversity, equity and inclusion (DE&I) begins with a single step – and is made possible by individuals and businesses being willing to take those incremental steps as many times as […]

November 2, 2022

Homeowners in hurricane-prone coastal states and around the US believe severe weather is increasing and that their property is at growing risk from weather events, a new survey by the National Association of Mutual Insurance Companies (NAMIC) has found. However, […]

October 27, 2022

Rising interest rates and a weakening economic picture affecting pricing and demand is setting insurers for low premium income growth in 2023, according to a recent EY report. In the the latest EY ITEM Club Outlook for Financial Services analysts […]

October 25, 2022

The future of this year’s Insurance Business America (IBA) rising stars are so bright, they need sunglasses. At the start of summer this year, the IBA team invited insurance professionals across the US to nominate the most exceptional young talent […]

September 30, 2022

Property reinsurance renewals at mid-year 2022 “experienced significantly tighter conditions” than the renewals at January 1, according to Guy Carpenter. The Guy Carpenter US Property Catastrophe Rate on Line Index – a proprietary index of rate-on-line movements on brokered excess […]

September 12, 2022

Greg Case, the Chief Executive Officer (CEO) of brokerage Aon, believes that the insurance and reinsurance industry is faced with a “generational opportunity” to make a difference. Case addressed an audience this morning at the PwC breakfast briefing in Monte […]