Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Sica Fletcher Index: Total Agency-Broker M&A Revenue Down 26% in 2024
Feb 24 2025 // The 22 acquirers that make up the Sica Fletcher Index were involved in 533 agent-broker deals in 2024, down 6% from 2023. Members completed 146 acquisitions during the fourth quarter of 2024. This was 11% less than a year...
Reviewing Historic Predictions
Feb 24 2025 // Back around 2013 (the copy I have is not dated, so I might be off a year), McKinsey & Company published a study that caused some angst within the industry. The study, “Agents of the Future: The Evolution of...
Agency Survey: Salaries, Total Income Jump in 2024 but Pay Satisfaction Declines
Feb 24 2025 // Insurance agency owners, producers, and support staff on average made more money in 2024, but for two years in a row, satisfaction with compensation declined, according to the latest Agency Salary Survey, published...
3 Emerging Risks to Watch: Social Inflation, Electric Trucks, Virtual Currencies
Feb 24 2025 // The business environment is constantly evolving, with each new development and innovation offering a unique variety of potential risks and rewards. Broad, systemic challenges may sometimes create unexpected obstacles,...
Rebuilding Costs Rose More Than 60% in the Last Decade: Verisk
Feb 21 2025 // Over the past decade, there’s been a dramatic increase in reconstruction costs, according to Trish Hopkinson, head of 360Value at Verisk. The 10-year analysis examined residential and commercial reconstruction costs...
AM Best Revises Outlooks to Negative for Mercury and Subsidiaries Over LA Wildfires
Feb 20 2025 // AM Best revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) for the members of...
CIAB: Commercial Premiums Rise 5.4% Overall in Q4 2024
Feb 20 2025 // 2024 ended as steady as ever – with “no real change in current market conditions” – as respondents of a recent survey reported most lines of business in the last quarter had average increases in premiums...
Renewal Rates Up YOY for All Commercial Lines Except Workers Comp: Ivans
Feb 14 2025 // Premium renewal rates increased year over year for all major commercial lines, except workers’ compensation, according to the January 2025 results of the Ivans Index. Month over month, commercial auto, business...
AI-Driven BPO: The Future of Insurance Operations
Feb 12 2025 // This post is part of a series sponsored by Selectsys. The insurance industry is undergoing a profound shift, and AI-assisted BPO (Business Process Outsourcing) is at the forefront of this transformation. Traditional BPO...
Whitewater Rafting Businesses Face Uncertain Future After Hurricane Helene
Feb 12 2025 // ERWIN, Tenn. (AP) — After 24 years of guiding whitewater trips on the Nolichucky River Gorge for other companies, Patrick Mannion finally received a permit last year to operate his own outfitter business. But following...
Bill Aims to Drive Down New York City Taxi Drivers’ Insurance Costs. But Will It?
Feb 11 2025 // The New York City Council’s transportation committee heard testimony Monday on a proposal to lower the Personal Injury Protection (PIP) insurance coverage requirement for for-hire drivers from $200,000 to $50,000 per...
Smart Choice Agency Network Reports Record Growth in 2024
Feb 11 2025 // Smart Choice, a North Carolina-based firm that works with independent agencies, reported record growth, with more than 1,450 agencies joining the network in 2024. Last year marked the eighth-straight year with more than...
CFPB Disarray Puts Future Fintech, Bank Oversight Into Question
Feb 10 2025 // Less than two months ago, the Consumer Financial Protection Bureau was pumping out lawsuits against some of the world’s biggest firms, suing JPMorgan Chase & Co., Bank of America Corp. and Walmart Inc. within a...
First Chicago Insurance Group’s Credit Ratings Upgraded to Positive Outlook by AM Best
Feb 10 2025 // AM Best has revised the outlooks to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of “bb”...
Florida OIR Approves Smaller Average Rate Increases for Citizens This Year
Feb 10 2025 // Just as many Florida property insurers had hoped to see a boost to the private market with a maximum rate increase for Citizens Property Insurance Corp., state regulators have slashed the rate hike by more than half. After...
Slower Growth but Surplus Lines Premiums Still Up 12% in 2024
Feb 6 2025 // The excess and surplus lines market continued to grow in 2024, with premium reaching more than $81 billion, according to annual reports from 15 state stamping offices released by the Wholesale & Specialty Insurance...
Allstate Q4 Income Up 30% Despite High Hurricane-Related Losses
Feb 5 2025 // Allstate Corp. fourth quarter net income applicable to common shareholders increased 30% to about $1.9 billion, and the insurer finished 2024 with net income of $4.6 billion compared to a loss of $316 million the prior...
UK Commits £2.65 Billion to Tackle Rising Flood Risk
Feb 5 2025 // The UK will spend £2.65 billion ($3.31 billion) on flood defenses to protect homes from the growing risks posed by climate-fueled storms and rainfall, according to a government announcement on Tuesday. The investment on...
VIDEO: Uber Backed New York Ad Targets ‘Hidden Tax’ Driving Up Insurance Costs
Feb 5 2025 // A group calling for reforms to lower insurance costs across New York has launched its first ad. The ad from newly-formed Citizens for Affordable Rates (CAR) blames “special interests in Albany” along with...
Sica Fletcher Index: Total Agency-Broker M&A Revenue Down 26% in 2024
Feb 4 2025 // The 22 acquirers that make up the Sica Fletcher Index were involved in 533 agent-broker deals in 2024, down 6% from 2023. Members completed 146 acquisitions during the fourth quarter 2024. This was 11% less than a year...
