From increased wildfires to flooding to wind and hail and hurricanes, the risks and resulting losses from climate change grow each year. While 2023 was the hottest year on record, 2024 is shaping up to beat that placeholder. According to …
The trust factor is critical in the insurance purchasing process. When customers trust their insurance provider they feel more satisfied with the insurance buying process even in the face of rising rates. That’s according to the J.D. Power 2024 U.S. …
The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report. The Best’s Special Report, “U.S. P/C Insurers Achieve Record Investment Income …
While the labor market continues to come up short for the construction industry, the insurance market is doing its job supplying the coverages the industry needs to keep up with the significant demand for new building. Despite the challenges finding …
When it comes to understanding why auto rates are up, I feel fairly knowledgeable. After all I spend my working life reviewing and reporting on the property/casualty insurance world, so I hear the industry explain again and again why personal …
Even during the post-pandemic boom in the entertainment industry, when event and live performance venue attendance reached pre-COVID-19 levels, insurance markets in the sector could be difficult. Now, the post-pandemic momentum may be slowing as entertainment businesses contend with rising …
While the overall number of wildfires per year is declining, the increasing size and intensity of fires have led to more property damage than ever before. The average fire size has tripled over the past 30 years, according to a …
The workers’ compensation system overall is healthy and strong. The sector has seen long-term frequency declines for multiple decades with moderate severity of claims costs for at least the past decade. That’s according to NCCI’s chief actuary, Donna Glenn, who …
Pregnant employees now have the right to accommodations under new federal regulations for enforcing the Pregnant Workers Fairness Act. These protections are likely to change workplace culture for millions of people, but no other working group is likely to be …
This issue of Insurance Journal features exclusive results from the 2024 Young Agents Survey where young agents nationwide shared their views on the insurance industry and their experiences as agents. Optimism overall seems to be struggling among the young agents …
