Industry Trends

State Farm’s record underwriting loss was due to rapidly increasing claims severity and significant additions to prior accident year incurred claims.

While construction costs on single-family homes were up nearly 17% in 2022, 56% of homeowners have not reviewed their homeowners policy in the last year.

The social media trend led to a wave of vehicle thefts and forced two prominent insurance carriers to announce that they will be limiting applications for coverage.

House Republicans’ letter states that the FTC is exceeding its delegated authority and lacks congressional authority in federal statute to initiate this type of rulemaking.

AIG’s Private Client Group (PCG) business will move to this new independent platform and be rebranded as Private Client Select Insurance Services (PCS).

The National African American Insurance Association (NAAIA) report sheds light on the strides the industry has made over the past five years but also lays bare the opportunity deficit Black people still face in the industry.

After making numerous operational changes during the coronavirus pandemic, restaurant owners are now feeling optimistic about the future, according to Nationwide.

As 40% of consumers saw their rates increase, carrier ad spending has decreased and telematics adoption has stabilized after an initial surge, according to a J.D. Power report.

As the recent string of storms and flooding on the West Coast have likely hit property owners with unmitigated costs, many Americans mistakenly believe they are covered against floods, according to Neptune Flood.

The Missouri Supreme Court ruled that, because the insurer was not given the opportunity to intervene in the case before judgement was entered, the earlier court ruling should be vacated.