Coalition Expands into D&O and EPLI
Coalition announced two new insurance products to help protect the leaders of small and midsize businesses.
Industry Trends
Geico Sued by Woman Who Contracted STD in Car Insured by Carrier
The case is raising concern within the insurance industry as doubts remain as to whether there could be coverage under the personal auto policy.
Client Expectations Grow for Insurance Agents
Commercial lines and personal lines clients need their insurance agents’ advice on a wider variety of business solutions, including retirement, banking benefits and cybersecurity, according to Nationwide.
Independent Agent Satisfaction with Carriers at All-Time High
The industry has placed a renewed focus on the independent agency channel, according to a study by the Big “I” and J.D. Power.
Commercial Lines Composite Rates Accelerate in Third Quarter
Commercial rates saw an increase of 6.8% at third quarter of 2021, while personal lines saw average increases of 6.6%.
Cyber Risk Is the No. 1 Concern Across All Businesses
Despite heightened cyber concerns, less than half of business leaders have adopted basic preventive measures, according to the Travelers Risk Index.
Boomers Flock to Renting, Insurers Left Behind
As baby boomers move from home ownership to renting, only half stay loyal to their insurer, according to a survey by J.D. Power.
Independent Agents Are Embracing the Hybrid Work Environment
Two-thirds of independent agency owners believe workplace flexibility is here to stay, according to The Hanover Insurance Group’s survey.
AM Best: Commercial Lines Will Face Brunt of Hurricane Ida Losses
Property damage and business interruption losses may contribute more heavily toward overall financial losses, with insured losses estimated to be between $15 billion and $25 billion.
Small Commercial Client Satisfaction Declines, Interaction Insufficient
Nearly 1 in 3 small business insurance clients said they had to exert a great deal of effort to interact with their agent, up from 1 in 10 a year ago.
