Social inflation has been a hot topic across the insurance industry over the last few years as claims frequency and severity continue to increase across nearly every line of business. While some lines, such as commercial auto and general liability …
Just a decade ago, the idea that artificial intelligence (AI) might play a role in everyday insurance practices may have sounded far-fetched. As a legacy industry with longstanding ways of doing things, many insurers kept to traditional practices even as …
Global commercial insurance prices increased 4% in the fourth quarter of 2022, down from a 6% increase in Q3 and a 9% increase in Q2, which is a continuation of a trend of moderating increases that began in Q1 2021, …
A U.S. judge rejected FedEx Corp’s request to throw out or reduce a jury’s $366 million damages award to a Black former employee who said the package delivery company fired her after she complained about racial discrimination. FedEx appealed the …
Shock Loss/ Distress Trucking Insurance Market Available Market Detail: American Standard Transport Risk Managing General Agency (ASTR MGA) has an admitted product available on A- paper for all radius trucking operations with large (shock) losses of $50,000 or more in …
A generation has passed since the last hard market and a substantial proportion of the people employed in agencies today have never experienced one. This means they have never dealt with surplus lines in such large volumes as we see …
The insurance industry’s talent problems are no longer looming, they are here. While it may take many components to find a potential solution to this problem, one area that should get our immediate focus is employee development. According to the …
This issue reveals data and compensation insights gathered from Insurance Journal’s annual Agency Salary Survey. For the first time in the survey’s 14-year history, salary averages reported were higher than any other years’ data. You can download the full agency …
As 2023 moves into the second quarter, intense speculation surrounds us as to how the economy will perform for the rest of this year and into next. Many economists predict that the Federal Reserve’s dramatically tightened monetary policy — i.e., …
It’s no mystery: The insurance industry is experiencing a monumental shift. In June 2021, the U.S. Chamber of Commerce issued a report citing U.S. Bureau of Labor Statistics numbers forecasting that over the next 15 years, 50% of the current …
