Insurance Journal

NOVEMBER 6, 2024

By this time next year, plaintiffs lawyers, who have frequently been held up as thorns in the side of the Florida property insurance industry for their sometimes-aggressive pursuit of policyholder claims litigation, could have a stamp of credibility to brandish …

Policyholder 264

Policyholder Property Insurance Insurance Industry Claim 264

Property Insurance Coverage Law

AUGUST 19, 2024

That is exactly what the insurance industry has accomplished in Florida with recent changes in law. Most would be laughed out of town.

Policyholder 189

Policyholder Insurance Companies Property Insurance Insurance Industry 189

Property Insurance Coverage Law

AUGUST 6, 2024

Florida’s property insurance market is facing unprecedented challenges, leaving policyholders with inadequate coverage at significantly higher rates. The term “shrinkflation,” commonly associated with consumer goods, is now being used to describe a troubling trend in the insurance industry.

Property Insurance 188

Property Insurance Policyholder Insurance Industry Insurer 188

Property Insurance Coverage Law

DECEMBER 15, 2024

I have a vision of Amy Bach, the Executive Director of United Policyholders, jumping for joy as she read the North Carolina Supreme Court opinion, which the insurance industry must think of as a Friday the 13th ruling.

Policyholder 100

Policyholder Damage Property Insurance Insurance Industry 100

Insurance Journal

APRIL 2, 2025

Specialist insurer CFC announced a new cyber product Cyber Proactive Response (CPR) aimed at businesses with revenues up to $250 million. CFC said the new product includes two firsts for the cyber insurance industry. Policyholders will not only …

Cyber 130

Cyber Policyholder Insurance Industry Insurer 130

American Agents Alliance

APRIL 3, 2025

The global economy is increasingly interconnected, and even in industries like insurance, global issues like supply chain challenges, tariffs, and trade agreements can have significant impacts. While the relationship between tariffs and insurance costs can seem unrelated, tariffs can increase costs for insurers and policyholders.

Agents 52

Agents Policyholder Premium Auto Insurance 52

Property Insurance Coverage Law

FEBRUARY 23, 2025

His work has unveiled a deeply concerning pattern within Florida’s insurance industry, noted in the story: Secret Study Found Florida Insurers Sent Billions to Affiliates While Crying Poor. Investigative reporter Lawrence Mower deserves some type of award and thanks.

Property Insurance 100

Property Insurance Insurer Insurance Industry Insurance 100

American Agents Alliance

JANUARY 11, 2025

As stories of resilience and courage emerge and the fires are contained, agents and brokers provide critical insurance support for policyholders. When consumers do not carry sufficient insurance coverage, everyone is at risk. These wildfires have caused historic damage, claimed lives, and threatened communities.

Insurance Industry 52

Insurance Industry Risk Broker-Agent Policyholder 52

Property Insurance Coverage Law

OCTOBER 29, 2024

One thing everybody notices in Tallahassee is that there is an army of paid lobbyists and professional proponents of the insurance industry who show up at hearings. The Florida Department of Financial Services (DFS) held a regulatory workshop meeting seeking comments on the recent emergency adjustment rule.

Property Insurance 203

Property Insurance Insurance Industry Insurer Insurance 203

Property Insurance Coverage Law

NOVEMBER 1, 2024

Note: This guest blog is by Frank Lombard, CPCU, ARM, an independent property/casualty insurance advisor. Not a day passes without reading something about double-digit increases in the cost of home insurance. The insurance industry claims the increases are a result of inflation, climate change, and consumers filing more claims.

Home Insurance 189

Home Insurance Casualty Insurance Insurer Insurance 189

Triple-I: Homeowners Insurance

FEBRUARY 13, 2025

Tort reform is discussed as a legislative solution to the challenge of legal system abuse excessive policyholder or plaintiff attorney practices that increase costs and time to settle insurance claims.

Commercial General Liability 89

Commercial General Liability Commercial Umbrella Claim Liability 89

Triple-I: Homeowners Insurance

JANUARY 13, 2025

Stakeholder Takeaways While climate risk plays a significant role in the number and severity of extreme weather events that cause insurance industry losses, Triple-I has kept an eye on the impact of the unpredictable confluence of attorney fee mechanisms, assignment of benefits (AOB), and other practices that can amplify claim costs.

Policyholder 79

Policyholder Claim Premium Risk 79

Triple-I: Business Insurance

JUNE 8, 2022

With this in mind, 73 percent of policyholders said they consider climate change one of their primary concerns, compared with 40 percent of insurers. “Insurers who prioritize focus on sustainability will be making smart long-term business decisions that will positively impact their future relevance and growth.

Policyholder 40

Policyholder Risk Underwriter Underwriting 40

American Agents Alliance

MARCH 9, 2025

Womens financial empowerment is central to the insurance industry, as their influence is felt across business, investments, and household financial decisions. However, this dynamic has shifted, but women still have less insurance coverage compared with men. Focus on providing information rather than closing the sale.

Agents 52

Agents Insurance Agents Insurance Agent Broker-Agent 52

LexisNexis

SEPTEMBER 17, 2024

With autonomous vehicles or AVs slowly gaining market share and the technology rapidly advancing, this is becoming an increasingly urgent question for insurance companies. Indeed, AV technology could upend the very foundations of the car insurance industry. First, some basics. They don’t need to reinvent the wheel,” Yotis said.

Auto Insurance 97

Auto Insurance Insurer Insurance Insured 97

American Agents Alliance

FEBRUARY 7, 2025

One of the most challenging and unpredictable issues facing the insurance industry lately is social inflation. This trend describes the phenomenon of unexpected rising insurance claim costs because of societal trends and views toward litigation.

Risk 52

Risk Broker-Agent Policyholder Agents 52

InsuredMine

JULY 19, 2024

Understanding Predictive Churn Analytics Predictive churn analytics is revolutionizing the insurance sector by enabling companies to shift their focus from traditional risk assessment to proactive customer retention strategies. This segmentation enables insurers to develop personalized retention strategies for different customer groups.

Risk 59

Risk Policyholder Insurer Insurance 59

Property Insurance Centre

MARCH 19, 2024

The Importance of Consumer Education Consumer education is a critical aspect of making informed decisions regarding insurance coverage and navigating the complexities of the insurance industry. By gaining insurance knowledge , individuals can protect their property effectively and avoid falling victim to insurance scams.

Property Insurance 52

Property Insurance Policyholder Insurer Insurance 52

American Agents Alliance

MARCH 3, 2025

AI has rapidly transformed the insurance industry and more changes will continue as the technology and use cases mature. New efficient processes and workflows for underwriting, claims, policy administration, billing, and customer service have been implemented across the industry.

Broker-Agent 52

Broker-Agent Broker Agents Risk 52

ProWriters

FEBRUARY 23, 2025

Merck won an appeal against and ultimately settled the coverage dispute with its insurers. Yet this high-profile case illustrates the insurance industry’s need to evolve policy language to address contemporary cyber risks, including state-sponsored cyber attacks.

Cyber 53

Cyber Insurer Insurance Insured 53

Rough Notes

SEPTEMBER 3, 2024

A Strategy TO DRIVE YOUR AGENCY FORWARD “Giving back” is a win-win for everyone While it is obvious that charitable giving and philanthropic involvement foster positive feelings, … [they also] cultivate an enhanced corporate reputation overall, especially among policyholders, carrier partners and prospective employees.

Policyholder 40

Policyholder Insurance Industry Insurer Insurance 40

Frankenmuth Insurance

JUNE 20, 2024

At Frankenmuth Insurance, we take pride in protecting what’s important to you, and we’re dedicated to ensuring a bright future for our policyholders. AM Best is the insurance industry’s most widely recognized provider of ratings and financial data. For the latest Best’s Credit Rating, access www.ambest.com.

Casualty Insurance 52

Casualty Insurance Insurance Companies Policyholder Life Insurance 52

Bankers Insurance

MAY 16, 2024

The homeowners insurance market is complicated and dynamic, and many policyholders have experienced increased rates in recent years despite no changes to their coverage or claims filed. Insurance companies must raise rates so they can afford to pay for all the policies they issue. Any impactful results can take years to observe.

Home Insurance 52

Home Insurance Policyholder Insurer Insurance 52

American Agents Alliance

AUGUST 10, 2024

Severe weather is transforming the auto insurance industry. This means insurers must adapt to changing weather patterns and increasing unpredictability. Focused on the impacts of severe weather events on the auto insurance and repair industries, the report gives timely details on the future of the industry.

Auto Insurance 40

Auto Insurance Broker-Agent Agents Policyholder 40

American Agents Alliance

NOVEMBER 17, 2024

The changing climate brings unprecedented challenges to the insurance industry, especially to insurance professionals working in high-risk areas like California. But this can leave policyholders without coverage when they need it. Communicate coverage, exclusions, and limits clearly and document the discussion in writing.

Agents 40

Agents Broker-Agent Policyholder Risk 40

American Agents Alliance

DECEMBER 8, 2024

2025 will bring new ideas, innovations, and changes to an ever-evolving insurance industry. Driven by rapid advancements in technology, shifting risks, and increasing policyholder expectations, the industry will likely have different products and services by the time 2025 draws to a close.

Broker-Agent 40

Broker-Agent Agents Broker Risk 40

Cowbell

DECEMBER 30, 2024

Heres a summary of the years key achievements: Empowering Policyholders Through Insights and Risk Reduction: Our Cyber Round-Up Reports shed light on the current cyber threat landscape concerning company sizes and industries, as well as the frequency and severity of different types of cyber threats.

Cyber 52

Cyber Policyholder Risk Building 52

InsuredMine

DECEMBER 26, 2024

Insurtech: The Game-Changer Insurtech, a fusion of “insurance” and “technology,” refers to the innovative use of technology to improve the efficiency and effectiveness of the insurance industry.

Risk 105

Risk Claim Building Financial Loss 105

Redbird Agents

JULY 9, 2024

It’s a common misconception that becoming an insurance agent is an easy path to success. Statistics from the insurance industry reveal a different story. Roughly 10 percent of independent insurance agents generate the vast majority of insurance sales, leaving many to question the viability of this career path.

Insurance Agents 130

Insurance Agents Insurance Agent Agents Broker-Agent 130

American Agents Alliance

OCTOBER 8, 2024

The Growing Role of Technology to Track and Reduce E&O Claims New technologies like genAI, machine learning, and data analytics are reshaping the insurance industry and introducing new risks and exposures. The NAIC has even offered guidance for insurers on the usage of these modern technologies.

Claim 40

Claim Broker-Agent Agents Broker 40

Protect Commercial Insurance

DECEMBER 6, 2024

This era gave rise to specialised insurance products, covering factories, railways, and an expanding workforce. By the 20th century, the insurance industry began to reflect broader societal shifts. This transparency builds trust between insurers and policyholders, as all parties have access to the same information.

Commercial Insurance 52

Commercial Insurance Commercial Insurer Insurance 52

Bankers Insurance

AUGUST 8, 2024

Most commercial property insurance policies include coinsurance clauses, which encourage policyholders to carry reasonable and accurate coverage amounts. Under a coinsurance clause, a policyholder faces a penalty — usually a reduced payout — if their coverage limit is not at least equal to a predetermined percentage (e.g.,

Commercial Property 59

Commercial Property Property Insurance Commercial Out-Of-Pocket 59

InsuredMine

SEPTEMBER 30, 2024

Today, for insurance agencies, the road from a prospective client to a loyal policyholder can often feel like a winding journey filled with uncertainties. This significant increase highlights the importance of consistent communication and relationship-building in the insurance industry.

Agents 80

Agents Insurance Agency Building Policy 80

Property Insurance Centre

JANUARY 4, 2024

Emerging Property Insurance Trends 2024 Welcome to our guide on emerging trends in the property insurance industry. As we dive into the evolving landscape of property insurance, it’s important to stay informed about the latest trends and challenges affecting the market. Hurricane Harvey 2017 92.0

Property Insurance 52

Property Insurance Commercial Property Liability Insurer 52

PSM Brokerage

DECEMBER 5, 2024

Allstate, a household name in the insurance industry, is now bringing its trusted reputation to Medicare Supplement (Medigap) plans. With decades of experience providing peace of mind to millions of policyholders, Allstate has created Medigap plans that offer comprehensive coverage, flexibility, and affordability.

Out-Of-Pocket 52

Out-Of-Pocket Agents Policyholder Protection 52

Leadsurance

SEPTEMBER 26, 2023

However, email marketing stands out as a crucial tool for the insurance industry. With its ability to directly reach current clients, potential leads, and past policyholders, email marketing provides a platform for personalized, timely, and relevant content delivery. Treating them all alike can lead to missed opportunities.

Insurance Agents 52

Insurance Agents Insurance Agent Agents Insurer 52

American Agents Alliance

JULY 5, 2024

And when it comes to the insurance industry, having data and using it well has become a differentiator. Having better data means better coverage recommendations, which leaves fewer policyholders uninsured or underinsured — lowering E&O risk. Data helps drive business decisions, define strategy, and develop ideas.

Risk 40

Risk Broker-Agent Agents Policyholder 40