The Hard Market Puts the Classic Car Market to the Test
A surge in classic car values—primarily due to rising inflation and exchange rate variability—means that owners are facing insurance-related issues.
Affluent
Senate Holds Hearing on Challenges in the Property Insurance Market
The hearing highlighted the recent property insurance market turmoil due to the major disasters in Florida, Georgia, the Carolinas, California, Hawaii and Vermont.
2023 Hurricane Risk Report: 33 Million Homes Under Threat
CoreLogic’s “2023 Hurricane Risk Report” provides a detailed look at what’s at stake for the U.S. as hurricane season commences.
State Farm Withdraws From California Homeowners, Commercial Property Market
State Farm cited the hard market and protecting the company’s bottom line as the reason for the withdrawal.
Dog-Related Claims Cost $1 Billion in 2022
Over the past 10 years, the average cost per dog-related claim has risen 131.7% across the U.S., an increase attributable to increased medical costs, as well as social inflation.
AIG to Form Independent MGA to Serve High Net-Worth Markets
AIG’s Private Client Group (PCG) business will move to this new independent platform and be rebranded as Private Client Select Insurance Services (PCS).
The Emerging Classics of the Collector Car Market
As generations grow older, the definition of a classic car is changing. Agents have the opportunity to provide products and coverages to the newest generation of collectors.
Online Auctions Keep Demand for Classic Car Insurance Purring
The classic car market has seen an increase in sales over the course of the pandemic, one that is only increasing as pandemic restrictions are beginning to lift.
From the Front Lines: Classic Cars
“If you’re going to get into the classic car specialty market, you need to learn all about classic cars just like we did,” says independent agent Peter Sacchetti. “You should never speak about something you don’t understand—and that includes the car and t
4 Tips for Insuring the Modern Classic Car Collector
As new collector enthusiasts from Generation X and the millennial generation enter the market, agents have a great opportunity to work with an emerging segment.
