Industry Trends

The American Property Casualty Insurance Association (APCIA) recently launched a public awareness campaign on the importance of parents encouraging teens to be safe behind the wheel.

However, progress could be undone by the January California wildfires and the impact of tariffs, the report from Triple-I and Milliman warned.

Despite rising concerns, 26% of commercial property owners admit to knowingly carrying inadequate insurance coverage to account for severe weather events, an 8-point increase from 2023.

Dog-related claims have increased significantly in both frequency and cost, according to the latest claims data analysis from the Insurance Information Institute (Triple-I) and State Farm.

Most drivers believe other motorists’ driving behaviors are bad and getting worse, according to Nationwide. Yet most rate their own driving very highly, despite participating in the same risky behaviors.

Roof repair and replacement cost value totaled nearly $31 billion in 2024, according to a report from Verisk.

Personal lines rate increases were driven by homeowners insurance premiums, while auto and umbrella and excess liability saw the most significant commercial lines rate hikes.

Colorado State University (CSU) hurricane researchers are predicting 17 named storms during the Atlantic hurricane season.

While injury-related expenses cost small businesses more than $20,000 in 2024, half of these injuries were reported as being preventable, according to Pie Insurance.

While more than 2 in 3 (69%) say the insurance industry is a great place to work and 4 out of 5 (81%) say they are satisfied with their job, high rates of burnout are threatening to dampen job satisfaction, according to Liberty Mutual and Safeco.