Industry Trends

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.

Two insurance industry reports revealed that the overall property & casualty insurance industry is returning to profitability after years of hard market conditions and weather-related losses.

Homeowners claims are taking longer to resolve than ever before with the average claim cycle time—from filing the claim to finished repairs—now 32.4 days, says J.D. Power.

VPNs and firewalls ranked as the first and fourth most exploited technologies for initial access in 2024, according to a Coalition report.

​U.S. property & casualty insurers posted an underwriting loss of $2.6 billion for 2024, a significant improvement from the $24.6 billion underwriting loss recorded in 2023, according to AM Best.

More than three-quarters of midsize business owners say evolving regulatory and safety standards have had an impact on their risk management needs, the survey found.