While not news to independent agents, commercial lines renewal rates rose again in the fourth quarter of 2023 — another sign that the hard market is here to stay — at least through 2024. According to the Ivans Index, the …
Work-related stress and worker burnout is a critical topic in today’s talent market as nearly every insurance organization across the nation competes to fill open positions. But stress at work has reached epidemic proportions, according to the American Psychological Association, …
For Insurance Journal’s last print issue of 2023, we decided to travel back in time to review the most significant events in insurance history over the past 100 years. While we selected 100 moments that altered how the insurance industry …
Mackoul Risk Associates with offices in both Morristown, New Jersey, and Long Beach, New York, lives and breathes the motto, “work hard and play hard.” As one employee wrote when nominating the agency for this year’s annual Best Agencies to …
With a staggering 50% of the current insurance workforce set to retire in less than 10 years, potentially leaving more than 400,000 positions unfilled, nearly every insurance organization is struggling to recruit new talent while retaining their best talent. But …
Ransomware attacks are up 95.41% globally in 2023 year over year, a trend showing no signs of slowing. The number of ransomware victims to date in 2023 (3,311) has already surpassed totals for the entirety of 2021 (3,048) or 2022 …
Small business owners are optimistic about their future with 71% expecting revenue increases in 2024, according to Q3 2023 MetLife & U.S. Chamber of Commerce Small Business Index. The survey found that 42% of small businesses say they plan to …
Fewer agencies reported increases in premium on their agency errors and omissions renewal policies from 2022 to 2023, according to Insurance Journal’s annual Agency E&O survey which polls buyers of the coverage on pricing and trends on current market conditions. …
Connecting the insurance ecosystem through the power of technology could answer the decades-old problem of duplicate entry for agents. Agents still must navigate through multiple carrier portals to complete a single quote, despite the promise of integrated solutions. Or agents …
Employee stress is on the rise as families and workers navigate higher prices, uneven wage growth and record credit card debt. According to PwC’s 2023 Employee Financial Wellness Survey, 60% of full-time employees surveyed say that finances are the top …
