News

After several years of hard market conditions, agencies are renewing emphasis on retention—and those making the most progress are not relying on renewal conversations alone.

New Big “I” survey reveals that only 3 in 10 Americans (31%) review or shop for insurance each year, with many waiting until premiums increase, major life changes occur, or coverage issues arise.

The new year kicked off with hard-won pieces of advice from seasoned agency leaders, plus Big “I” Virtual University experts’ takes on whether a first named insured can cancel a homeowners policy without the signature of the second.

Throughout the year, the Big “I” and Independent Agent magazine have been hard at work, examining emerging market trends and helping you be there for your clients with the latest insights.

As homeowners contend with inflation, extreme weather and increasingly complex coverage needs, new reports from Nationwide and The Hanover reveal widening gaps in insurance coverage—and an expanding role for agents helping clients navigate today’s risk environment.

Nearly half of U.S. homeowners have seen their insurance premiums increase over the past year, signaling growing concerns over insurer loyalty and long-term profitability, according to J.D. Power.

Small commercial customers are more likely than ever to consider moving their business to another insurer at renewal, according to J.D. Power.

Nationally, homeowners insurance rates jumped 11.4% in 2024, with double-digit increases reported in the last two years.

The new toolkit helps independent insurance agents educate clients about legal system abuse, explain rising costs and advocate for reforms. 

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.