While factors like increased repair expenses, more frequent claims and stricter regulatory requirements are responsible for over a decade of premium increases, insurance remains a large cost of doing business.
Trucking companies faced $165 million in nuclear verdicts in 2023, with an increasing trend of thermonuclear verdicts. Mounting costs from these large verdicts present significant challenges for the commercial auto insurance market.
The new endorsement protects truckers by expanding coverage for perils attributed to wetness, rust and corrosion, as well as driver error and changes in temperature on refrigerated loads.
The U.S. property & casualty insurance market is exhibiting mixed results in 2025, with personal auto on track to achieve profitability but homeowners and general liability segments continuing to experience losses.
In the second quarter of 2025, personal lines rates rose by 4.6% and commercial lines rates rose 2.8%.
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.
Does a nonprofit organization that has a workers compensation policy in force also need uninsured/underinsured motorist coverage?
“The use of telematic devices in monitoring driving behaviors and enhanced data analytics capabilities are among some of the more positive changes,” says independent agent Lydia Ramos. “They allow us to analyze a variety of factors, including traffic patt
Challenges such as driver shortages, distracted driving, social inflation and changing marijuana legalization continue to impact the commercial auto market.
As the journey toward autonomous trucks begins to unfold in earnest, technology is playing a significant role in improving industry safety.
