News

This year’s conference continued to debunk the myth that technology will replace insurance agents, making it clear that agents are not becoming obsolete—they’re evolving.

May brought the news that dog-related claims have increased significantly in both frequency and cost over the past 10 years. In better news, the Big “I” secured important tax wins as the “One Big Beautiful Bill Act” passed the U.S. House of Representatives.

This year’s hurricane season, which started on June 1, has a 60% chance of above-normal activity, with 13 to 19 named storms expected.

While most homeowners are familiar with common risk areas and the technologies designed to mitigate them, relatively few have implemented these solutions in their own homes, according to The Hanover.

The “Tackling Predatory Litigation Funding Act” was introduced in both the U.S. Senate and House to create a new tax for third-party litigation funding and to clarify it does not qualify for capital gains treatment, a loophole that currently allows foreign investors to pay zero U.S. taxes.

2024 saw the second-highest amount of tornadoes on record and 2025 is predicted to continue above-average activity. One weekend alone in mid-May caused $9 billion-$11 billion in damage.

The bill would make permanent and increase the 199A deduction for pass-through entities from 20% to 23%, which is a huge win for many independent insurance agencies.

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.