If an employee drives a regularly furnished company car and the employee and family members are injured in an accident while using that car, how is that claim covered?
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.
However, progress could be undone by the January California wildfires and the impact of tariffs, the report from Triple-I and Milliman warned.
An insured lives in Connecticut but is building a new one-family home on their property in Massachusetts.
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.
Personal lines rate increases were driven by homeowners insurance premiums, while auto and umbrella and excess liability saw the most significant commercial lines rate hikes.
Two insurance industry reports revealed that the overall property & casualty insurance industry is returning to profitability after years of hard market conditions and weather-related losses.
“We see challenges with LTC (long-term care) adoption rates,” says independent agent Kelly Augspurger. “In my opinion, it’s an awareness and education issue because people don’t know what they don’t know.”
“Although we may be coming out of one of the most difficult periods in insurance history, some areas might still see increasing premiums for another 12-18 months,” says independent agent Guffy Wright. “Factors like claim volume, social inflation, weather patterns and fraud will continue to play major roles.”
With the changing landscape in the personal lines market due to the hard market, personal lines agents may be thinking about diversifying their revenue.
