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.
Last week, the U.S. Senate passed a continuing resolution to fund the federal government through Sept. 30 and included a short-term reauthorization of the National Flood Insurance Program (NFIP).
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.
The U.S. Department of Treasury announced it will not enforce the Corporate Transparency Act (CTA) beneficial ownership reporting rule, which would have impacted many small businesses.
In February, educating clients on the complications impacting the homeowners market—from the hard market to catastrophes—was top of mind for independent insurance agents, as well as soaring reconstruction costs from the past decade. Independent Agent also covered how agency-carrier agreements are evolving with data security concerns. And, with the number of agency mergers & acquisition deals still…
The deal is expected to close in the second quarter of 2025 and will continue to strengthen Gallagher’s middle-market reach.
Liberty Mutual Insurance, the sixth-largest personal insurance provider in the U.S., will market and sell all of its personal lines products solely under the Liberty Mutual brand starting in 2026.
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.
