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 …
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 …
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 …
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 …
Did your homeowners insurance premium go up this year? Mine did. Of course I live just outside of Austin, Texas, where wildfire risk has risen significantly as the state battles ongoing severe drought. Even with a nearly 25% increase in …
Agents and brokers are “going the extra mile” to prioritize client communication, retention, technology, and team morale as the hard market lingers on. According to a recent survey by Trusted Choice, the national consumer brand representing the members of the …
Use of artificial intelligence (AI) is on the rise but most firms making use of the new technology do not provide appropriate guidance. That’s according to Gallagher’s 2023/24 State of the Sector report, which found that 71% of firms using …
This issue reveals data and compensation insights gathered from Insurance Journal’s annual Agency Salary Survey. For the second year in a row in the survey’s 15-year history, salary averages reported were higher than ever before. While that trend may be …
While not news to independent agents, commercial lines renewal rates rose again in the fourth quarter of 2023 — another sign that the hard market is here to stay — at least through 2024. According to the Ivans Index, the …
