Industry Trends

This year’s hurricane season, which started on June 1, has a 60% chance of above-normal activity, with 13 to 19 named storms expected.

While most homeowners are familiar with common risk areas and the technologies designed to mitigate them, relatively few have implemented these solutions in their own homes, according to The Hanover.

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.

The American Property Casualty Insurance Association (APCIA) recently launched a public awareness campaign on the importance of parents encouraging teens to be safe behind the wheel.

However, progress could be undone by the January California wildfires and the impact of tariffs, the report from Triple-I and Milliman warned.

Despite rising concerns, 26% of commercial property owners admit to knowingly carrying inadequate insurance coverage to account for severe weather events, an 8-point increase from 2023.

Dog-related claims have increased significantly in both frequency and cost, according to the latest claims data analysis from the Insurance Information Institute (Triple-I) and State Farm.

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.

Roof repair and replacement cost value totaled nearly $31 billion in 2024, according to a report from Verisk.

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.