Industry Trends

This year’s Small Business Saturday is on Nov. 26 and it’s more important than ever to support your community’s local businesses.

Over the next 12 months, 68% of companies plan to increase staff, largely due to an anticipated increase in the volume of business as well as current understaffing.

With inflation peaking at its highest level in 40 years, auto loss ratios are at their second highest in over 20 years.

Even as the fall reflected a return to “normal” after a spike in mergers & acquisitions last year, the third quarter of 2022 was the second-busiest quarter for M&A activity ever.

For every woman at the director level who gets promoted, two female directors are choosing to leave their company, according to the McKinsey & Co and LeanIn study.

The number of independent insurance agencies has increased, according to the newly released study hailed as the most comprehensive look at the independent agency system.

This year’s Fire Prevention Week campaign, “Fire won’t wait. Plan your escape,™” works to educate everyone about simple but important actions to help stay safe from home fires.

Hurricane Ian is expected to impact rates as capacity is restricted even further in Florida and other wind-exposed coastal states.

Independent agent carrier satisfaction increased for the second consecutive year in 2022, recovering from a pandemic-related decline in 2020.

The Trusted Choice Relief Fund is available to provide financial assistance to insurance industry personnel impacted by Hurricane Ian.