More than one-third of U.S. personal auto insurance customers are dissatisfied with their insurance and those with higher overall lifetime value profiles are most likely to leave, according to J.D. Power.
While most homeowners are familiar with common risk areas and the technologies designed to mitigate them, relatively few have implemented these solutions in their own homes, according to The Hanover.
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.
Insurance agents play a key role in helping their clients prevent injuries, reduce claims, protect the health of their employees and safeguard the financial health of their businesses.
Restaurants continue to experience significant challenges from increasing payroll costs, inflation and claims, according to a report from NEXT Insurance.
“In the past, E&O coverage for seed dealers has been very cost-prohibitive,” says independent agent Shelly Turner. “Educating both clients and other agents on the availability of a lower cost, higher coverage option is a big focus.”
The agency errors & omissions environment has become more complicated, and the result has led to several implications for independent agencies.
Agency errors & omissions coverage has been impacted by the hard market, with premiums increasing over the past few years, and difficulty in replacing waves of retirees with younger workers.