From hurricanes in the Southeast, wildfires in the West and severe convective storms in between, catastrophes are a defining feature of the current insurance landscape and are changing property insurance.
September highlighted the impact of nuclear and thermonuclear verdicts on the commercial auto market, signs of improvement in the property & casualty industry, and the Big “I” welcoming Angela Ripley as the new chair.
With ongoing wildfires in the West and an above-average Atlantic hurricane season predicted, it’s essential for independent insurance agents to educate clients on how their policies can cover evacuation-related expenses.
Proactive conversations with clients about catastrophe risks can surface potential coverage gaps and open the door to more forward-looking planning.
2024 saw the second-highest amount of tornadoes on record and 2025 is predicted to continue above-average activity. One weekend alone in mid-May caused $9 billion-$11 billion in damage.
Despite rising concerns, 26% of commercial property owners admit to knowingly carrying inadequate insurance coverage to account for severe weather events, an 8-point increase from 2023.
For the most part, earthquake is a covered peril in traditional insurance but policies tend to have low sublimits compared to other perils.
Following a brief lull in tropical activity in the wake of Hurricane Ernesto, the conditions are now primed for a series of back-to-back storms over the next few weeks in the Atlantic.
The global tech outage highlights vulnerabilities in business continuity planning, cyber liability insurance and technology partners.
Brian Chapman, agent and owner of Chapman Insurance in Florida, sits down with Cassie Masone, vice president of flood operations at Selective Insurance.
