Commercial Lines

Transparency regarding data protection practices will remain a key factor in the adoption of telematics-driven insurance policies.

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.

Here are some market trends impacting the commercial auto market, as well as technology and communication techniques agents can use to help their clients.

Restaurateurs face difficulties hiring and retaining staff, an ever-evolving landscape of changing technologies, economic and social inflation, and the recent Department of Labor (DOL) overtime rules changes.

As the journey toward autonomous trucks begins to unfold in earnest, technology is playing a significant role in improving industry safety.

Agents need carriers and carriers need agents. It’s a symbiotic relationship that puts insurance into the hands of the businesses that need it. However, the hard market is putting a strain on relationships across the insurance distribution system

Carriers and agents are playing a key role in the increased use of technology to manage workplace safety risks.