The U.S. homeowners insurance segment has been hit with three consecutive years of net underwriting losses as a result of above-average numbers of natural catastrophes, inflationary pressures and elevated reinsurance costs. These market headwinds have led AM Best to revise …
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 …
Small business accounts are the bread and butter for most agencies. The good news: small businesses are increasingly satisfied with the insurance products and services they receive from their providers. Thats according to the 11th annual JD Power 2023 U.S. …
The first agency networks and partnership groups began in the 1970s, mostly to combine books of premium to access markets at a larger scale. Today, the reasons agencies join forces have moved far beyond combined premium, according to some of …
As the longest hard market in memory refuses to fade, standard property/casualty carriers are not only continuing to raise prices but also reimagining their books by shedding risks they no longer want. It’s affecting large and small commercial lines business …
Homeowners insurance costs are on the rise and that trend doesn’t seem to be slowing down. According to S&P Global, homeowners insurance rose nearly 11% between 2021 and 2022. That could be one reason why many homeowners are delaying home …
The search for good talent continues throughout the insurance industry. Those organizations offering flexibility in work schedules, such as work-from-home and hybrid work options, will win in today’s competitive market, according to a new report by Integrated Benefit Institute. IBI’s …
This year marks the 19th annual publication of Insurance Journal’s Top 100 Independent Agencies special report. One significant trend — the vast majority of firms (84 firms) in the Top 100 saw notable increases in total property/casualty revenue from 2021 …
Challenges to corporate climate commitments, claims about product attributes, overstated investments or support for climate action, and failure to disclose climate risks are on the rise and hitting some courts today, according to a new report, which states that ‘climate-washing’ …
Auto insurance rates are rising and that is leading consumers to look at usage-based insurance (UBI) options to help defray some costs. About one third of auto insurance customers in the U.S. reported a rate increase in the past year, …
