Industry Trends

The report studied how agencies approach specialty lines, such as the key factors they consider in the placement decision-making process.

The increase in agency merger & acquisition rates was caused by investors flush with capital continuing to meet an increasing supply of aging owners taking advantage of all-time high valuations.

The annual composite rate for both commercial and personal property-casualty lines continued to increase in 2021.

The federal government is warning that the newly discovered Log4j vulnerability poses a major threat to computer network security. All Big “I” members should address this threat immediately.

Adapting to changing customer needs through product expansion is the primary way agencies are strategizing to grow in 2022.

Since June, three states have placed restrictions on carriers’ ability to limit or deny homeowners insurance coverage based on ownership of specific dog breeds.

Liberty Mutual Insurance is launching a digital agency called Comparion, which will offer auto, home and small commercial insurance options from Liberty Mutual and more than 50 other national and regional carriers.

Coalition announced two new insurance products to help protect the leaders of small and midsize businesses.

The case is raising concern within the insurance industry as doubts remain as to whether there could be coverage under the personal auto policy.

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.