Industry Trends

More than half of all 2023 cyber insurance claims were a result of funds transfer fraud (FTF) or business email compromise (BEC), according to a Coalition report.

The increase in auto insurance shopping is prompted by soaring auto insurance costs, with a 22.2% year-over-year increase in the average cost of auto insurance through the end of February.

Independent insurance agents have an opportunity to proactively help customers consider the value of a workers compensation policy beyond price—before they learn the hard way.

The latest driving behavior survey from Nationwide revealed that both personal auto and commercial drivers partake in risky behaviors that impact all drivers on the road.

Weather forecasters at Colorado State University (CSU) forecast 23 named storms, 11 of which are predicted to be hurricanes, in the 2024 Atlantic hurricane season.

The survey revealed that 80% of women are responsible for purchasing their household’s insurance coverage.

In addition to $65 billion in CAT losses, AM Best analysts also said both economic and social inflation played large roles in property & casualty losses.

The latest research by Liberty Mutual and Safeco explores the unique strengths women bring to insurance agencies, as well as what female consumers want and need from agents.

Factors include the U.S. economy growing faster than anticipated, combined with the hard market’s high rates and premiums, according to Reagan Consulting.

Client communication, retention, technology and team morale are among agents’ top priorities in adapting to the hard market.