Industry Trends

State Farm cited the hard market and protecting the company’s bottom line as the reason for the withdrawal.

One in three U.S. workers say their job has had a negative impact on their mental health over the past six months, according to SHRM.

As economic anxiety increases and the hard market pushes insurance premiums higher, 51% of consumers said they are looking for ways to save money on their existing insurance policies.

Over the past 10 years, the average cost per dog-related claim has risen 131.7% across the U.S., an increase attributable to increased medical costs, as well as social inflation.

While homeowners and personal articles insurance on a composite basis were down slightly in the first quarter of 2023, auto insurance rates increased.

Here is a collection of findings from recent studies that reveal the true extent of distracted driving in 2023.

To mark the historic year, the company has planned yearlong activities within the community, including partnering with One Tree Planted’s Urban Forestry fund.

Rising economic and social inflation, supply chain constraints, catastrophic weather driving up losses, and historic cost increases for reinsurance has led to significant pressure on the property-casualty industry.

Severe events, inflation and supply chain-related concerns coupled with the strain on digital tools has led to increased dissatisfaction among homeowner clients.

A study by Liberty Mutual and Safeco found that men still outnumber women in leadership roles by two to one.