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.
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.
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.
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.
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.
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.
The significant increases were driven by inflation, labor shortages and supply-chain disruptions, according to a Verisk report.
Business are most concerned about cyber, business interruption and natural catastrophes, according to the “Allianz Risk Barometer 2025.”
