Reconstruction Costs Accelerated 5.2% Year-Over-Year
Both residential and commercial property saw total reconstruction costs increase from July 2023 to July 2024.
Personal Lines
How Agents Are Changing to Capture Younger Life Insurance Customers
For independent insurance agents, capturing the underserved life insurance market of young consumers and keeping apprised of their needs can open up opportunities.
Auto Insurance Rose 15% in First Half of 2024
Underwriting losses of $17 billion last year drove 2024’s first half-increases, according to data analysis from Insurify, which predicts rates will increase a total of 22% by the end of the year.
Tree Damage to Roof: When Does Debris Removal Sublimit Apply?
After trees fell on an insured’s roof during a windstorm, the carrier is limiting payment to remove the trees from the roof to the $1,000 sublimit under Section 1—Additional Property Coverages for Debris Removal.
Property Value Estimator: Who Is Liable for Underinsured Homeowners Claim?
If an agency uses a carrier’s property cost estimator evaluation tool to come up with a valuation on a risk, who is liable if the risk is underinsured?
Property Value Estimator: Who Is Liable for Underinsured Homeowners Claim?
If an agency uses a carrier’s property cost estimator evaluation tool to come up with a valuation on a risk, who is liable if the risk is underinsured?
What’s the Difference Between Insuring a Condo and a Townhouse?
Can townhouse exteriors be insured by each owner, with the homeowners association (HOA) insuring common areas?
From the Front Lines: Homeowners
“Inflation isn’t sparing the housing market, pushing up prices for homes and everything within them,” says independent agent Jake Sparrenberger. “Couple that with the rising frequency and severity of storms, and insurance companies find themselves footing
Two-Way Street: Technology’s Impact on Safety and Claims
Driver assistance systems are decreasing the number of accidents, but the complex technology increases the costs and time to repair a car—making agents’ communications with clients all the more important.
Allianz Life Launches New Accumulation Annuity
Accumulation Advantage+ offers a premium bonus on the money placed in the annuity for the first 18 months, vested at a rate of 10% each contract year.