P&C Insurance Market Reports Best Underwriting Results Since 2013
However, progress could be undone by the January California wildfires and the impact of tariffs, the report from Triple-I and Milliman warned.
However, progress could be undone by the January California wildfires and the impact of tariffs, the report from Triple-I and Milliman warned.
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.
The coverage allows small business owners with multiple locations to easily secure coverage through a single policy.
As insurers increase their underwriting restrictions to limit storm exposures, risk mitigation is becoming more important than ever for commercial insureds.
Most drivers believe other motorists’ driving behaviors are bad and getting worse, according to Nationwide. Yet most rate their own driving very highly, despite participating in the same risky behaviors.
The coverage features a data-driven trigger, which removes the need to prove a covered loss or damage.
As severe weather becomes more frequent, it’s critical for agents to help clients understand what flood insurance does and doesn’t cover.
The excess policy provides follow-form coverage on professional liability coverage with limits up to $5 million and a minimum attachment point of $500,000.
The impacts from extreme weather events—made even clearer by Hurricanes Helene and Milton—have led to consumers reevaluating their flood risk.
While injury-related expenses cost small businesses more than $20,000 in 2024, half of these injuries were reported as being preventable, according to Pie Insurance.