Insurance Journal

NOVEMBER 17, 2024

They provide some premium relief for the insured. They make insureds less likely to file smaller claims because either damage falls within the deductible, or is so close to it that the policyholder would rather not … Deductibles serve several purposes.

Deductible 246

Deductible Policyholder Premium Damage 246

Property Insurance Coverage Law

DECEMBER 28, 2024

Americas housing market is teetering on the edge of a crisisa situation fueled by climate change, soaring insurance premiums, underinsurance, and systemic failures in addressing these growing risks.

Premium 185

Premium Property Insurance Insured Insurer 185

Insurance Journal

MARCH 25, 2025

The Florida Office of Insurance Regulation provides a rate comparison tool on its website for homeowners’ and auto insurance, allowing consumers to view estimated premiums for limited types of properties and policyholders. Under a bill approved by the Florida Senate …

Auto Insurance 195

Auto Insurance Policyholder Premium Insurer 195

Insurance Journal

AUGUST 29, 2024

“After years of consistent losses, premium growth is helping the overall … property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report.

Insurance Industry 278

Insurance Industry Underwriter Underwriting Casualty Insurance 278

American Agents Alliance

APRIL 3, 2025

While the relationship between tariffs and insurance costs can seem unrelated, tariffs can increase costs for insurers and policyholders. Read more to understand this relationship and how agents can help policyholders manage this uncertainty. Here are some ways agents can help: Educate policyholders about costs and rising premiums.

Agents 52

Agents Policyholder Premium Auto Insurance 52

PSM Brokerage

FEBRUARY 27, 2025

The Birthday Rule is gaining traction across the country, allowing Medicare Supplement policyholders to switch plans without medical underwriting around their birthday each year. Reduced underwriting can lead to higher premiums , increased policy lapses, and fewer carriers remaining in the market. in 2024 vs. 13.0%

Underwriter 52

Underwriter Underwriting Policyholder Premium 52

American Agents Alliance

APRIL 8, 2025

With the potential rise in the cost of auto insurance, policyholders cant afford an accident due to distracted driving right now. Agents and brokers can help play a role in risk mitigation by offering educational resources and talking with their policyholders to provide distracted driving awareness tips.

Auto Insurance 52

Auto Insurance Policyholder Broker-Agent Agents 52

The Insurance Pro

DECEMBER 29, 2024

Key Things to Know Whole life insurance dividend options provide policyholders with flexibility and versatility. The four original options are: receiving dividends in cash, using dividends to reduce or pay premiums, purchasing paid-up additions, and accumulating dividends at interest.

Life Insurance 98

Life Insurance Policyholder Insurer Insured 98

Triple-I: Homeowners Insurance

JANUARY 20, 2025

Role of telematics Usage-based insurance, for instance, allows insurers to tailor auto rates based on the policyholders driving behavior, tracked by telematics. Updated legal regulations are equally important to ending legal system abuse as reasserting the key values of insurers to protect and care for policyholders.

Insurer 59

Insurer Insured Insurance Insurance Carrier 59

Triple-I: Homeowners Insurance

MARCH 4, 2025

Claims-related litigation has significantly declined over the past two years, and premium averages are nearly flat, with several insurers requesting rate decreases from the states insurance regulator. This competition from the private market has allowed policyholders to leave Citizens Property Insurance Corp.

Premium 52

Premium Claim Auto Insurance Property Insurance 52

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. At least 38 of those events happened in the last five years, with 14 in 2023.

Commercial General Liability 89

Commercial General Liability Commercial Umbrella Claim Liability 89

Triple-I: Homeowners Insurance

JUNE 26, 2024

Homeowners insurance premium growth in Florida has slowed since the state implemented legal system abuse reforms in 2022, according to a Triple-I analysis. As shown in the chart below, average annual premiums climbed sharply after 2020. In 2022, average homeowners premium rates rose more than 17 percent, to $3,040.

Premium 52

Premium Property Insurance Claim Policyholder 52

PSM Brokerage

JANUARY 23, 2025

Flexibility: Medicare supplements allow policyholders to see any doctor or specialist who accepts Medicare, without network restrictions. Stability: Once enrolled, clients can keep their plans as long as they continue to pay premiums.

Out-Of-Pocket 77

Out-Of-Pocket Life Insurance Agents Policy 77

Triple-I: Homeowners Insurance

MAY 13, 2025

Insurers underwrite and price coverage based on the risks theyre assuming, and rising premiums in these states have pushed more homeowners into residual market mechanisms, such as state-backed insurance pools or agencies. This isnt a tenable situation for the state or its policyholders.

Risk 52

Risk Underwriter Underwriting Premium 52

Zywave

MARCH 3, 2025

.” If you don’t have the opportunity to check out the full webinar, read on for key insights from the discussion and actionable advice for insurers, brokers, and policyholders. And when you take into consideration that Direct Premiums Written (DPW) increased by 2.0%

Casualty Insurance 52

Casualty Insurance Policyholder Liability General Liability 52

Triple-I: Homeowners Insurance

JANUARY 13, 2025

Only 30 percent are aware of premium savings for implementing mitigation measures. Seventy percent revealed they would be willing to pay higher premiums for better protection against future severe weather events. Policyholders lose the ability to work through and settle the claim efficiently.

Policyholder 78

Policyholder Claim Premium Risk 78

LexisNexis

FEBRUARY 11, 2025

Gavin Newsom (D) as a result of the fires, insurers were required to pay up to 30 percent of a policyholders contents coverage limit, up to a maximum of $250,000, without itemization. ( Ron DeSantis (R) proposed spending about $590 million on a program to help lower insurance premiums by strengthening homes against hurricanes.

Personal Property 40

Personal Property Policyholder Insured Insurer 40

Triple-I: Homeowners Insurance

MAY 8, 2024

But it’s important to remember that the crisis wasn’t created overnight and that it will take time for the reforms and other developments to be reflected in policyholder premiums. One factor keeping upward pressure on rates is fraud and legal system abuse. With only 15 percent of U.S.

Premium 52

Premium Insurer Insured Insurance 52

Zywave

NOVEMBER 13, 2024

We’re prepared to help you grow your distribution network, power your decision making with industry-leading data and insights and empower your teams and policyholders with industry knowledge and expertise. Policyholders are going to experience losses. Cyber attacks are going to happen. Regulations are going to continually change.

Cyber 97

Cyber Policyholder Insurer Insured 97

LexisNexis

NOVEMBER 5, 2024

CENTER SQUARE ) WA Considering Delay of New Insurance Premium Change Transparency Requirement Washington State Insurance Commissioner Mike Kreidler (D) has proposed delaying Phase 2 of a recently adopted insurance premium change transparency rule for two years, from June 2027 to June 2029.

Premium 40

Premium Auto Insurance Insurance Carrier Policyholder 40

American Agents Alliance

FEBRUARY 7, 2025

Social inflation and E&O risks are connected as agents must manage policyholder expectations even as claims costs rise, premiums remain high, and denials are issued for claims policyholders expected to be covered. This could lead to an E&O claim as policyholders are disappointed in claims outcomes.

Broker-Agent 52

Broker-Agent Risk Policyholder Agents 52

Distinguished

MARCH 20, 2025

Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Both resolved and unresolved violations can affect the terms, premiums, and overall coverage of these policies. Insurers view these violations as signs of deferred maintenance and increased risk.

Broker 52

Broker License Insurance Broker Risk 52

Distinguished

MARCH 6, 2025

Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Both resolved and unresolved violations can affect the terms, premiums, and overall coverage of these policies. Insurers view these violations as signs of deferred maintenance and increased risk.

Building 59

Building Damage Insurance Broker Underwriter 59

Smart Insurance Agents

DECEMBER 9, 2024

Affordable Premiums: Short Term Health Insurance Plans typically offer more affordable premiums compared to long-term health insurance plans. Cost: Evaluate the premiums, deductibles, copayments, and out-of-pocket maximums associated with each plan. Determine the affordability and value for the coverage provided.

Out-Of-Pocket 98

Out-Of-Pocket Insurer Insured Insurance 98

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. Even among typical homeowners policies, premiums likely increased year over year. Reduce liability risks. Explore discounts. 3 or 5 years).

Home Insurance 52

Home Insurance Policyholder Insured Insurer 52

R&R Insurance

SEPTEMBER 12, 2024

These rebates may be in the form of a premium credit or a lump-sum payment. of every $1 collected in premium (80% medical loss ratio or greater) for all of their small group plans in a specific State directly on claims and health promotion for the covered members.

Premium 59

Premium Insurance Carrier Policyholder Broker 59

Distinguished

MARCH 19, 2025

Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Both resolved and unresolved violations can affect the terms, premiums, and overall coverage of these policies. Insurers view these violations as signs of deferred maintenance and increased risk.

Building 52

Building Broker Damage Insurance Broker 52

LexisNexis

DECEMBER 2, 2024

Oakland, CA -- The California Department of Industrial Relations (DIR) has issued the 2025 assessments that workers’ compensation insurers are required to collect from policyholders to cover the budget of the state Division of Workers’ Compensation (DWC) and five related programs set up by state lawmakers.

Workers Comp 40

Workers Comp Workers Compensation Policyholder Premium 40

Property Insurance Centre

MAY 17, 2024

The Insurance Act 2015 IMPORTANT INFORMATION – PLEASE READ Duty of Fair Presentation The Insurance Act 2015 imposes an obligation on all policyholders to “make a fair presentation of the risk” prior to the policy commencing. In other words, insurers can treat the policy as if it never existed, which would result in no claims being paid.

Premium 52

Premium Insured Insurer Insurance 52

Scott Insurance

JANUARY 31, 2024

has seen an increase in their homeowners insurance premium. According to Money.com , an independent publisher, recent year-over-year premium increases have averaged 20%, and policyholders should expect to see at least a 10-15% increase in 2024. What can you do to impact your homeowners premium?

Premium 52

Premium Deductible Insured Insurer 52

Distinguished

MARCH 21, 2025

Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Both resolved and unresolved violations can affect the terms, premiums, and overall coverage of these policies. Insurers view these violations as signs of deferred maintenance and increased risk.

Building 52

Building Insurance Broker Broker Damage 52

Property Insurance Centre

MARCH 19, 2024

By understanding key terms, policy details, and the rights and responsibilities of policyholders, consumers can engage with insurers more effectively, ensuring better communication and ultimately achieving their desired outcomes. By exploring these guides, individuals can gain a comprehensive understanding of why insurance is essential.

Property Insurance 52

Property Insurance Policyholder Insured Insurer 52

American Agents Alliance

NOVEMBER 9, 2024

Independent P&C agents and brokers who reside and work in this region must also know how to help policyholders manage earthquake risk. Learn more about how agents can help their policyholders manage earthquake risk in this blog. This coverage gap means agents must educate policyholders to help ensure they have adequate protection.

Agents 40

Agents Risk Broker-Agent Policyholder 40

Shield Insurance Agency

AUGUST 20, 2024

Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with. Many policyholders may be tempted to file a claim for every little incident in the belief that their insurance policy will cover all damages.

Insurance Claim 52

Insurance Claim Claim Protection Out-Of-Pocket 52

Protect Commercial Insurance

OCTOBER 4, 2024

How Interest Rates Influence Insurance Costs Insurance premiums are sometimes indirectly influenced by interest rates. Here’s how: insurers rely on investment income to keep premiums competitive. When interest rates rise, the returns on these investments can increase, potentially affecting premium rates.

Property Insurance 52

Property Insurance Out-Of-Pocket Premium Insured 52

American Agents Alliance

MARCH 3, 2025

And if an AI model miscalculates premium, fails to include the right details, or misconstrues coverage guidelines, the agent could be held liable for the AIs faulty recommendation. Chatbots and other types of automated interactions with policyholders could create errors.

Broker-Agent 52

Broker-Agent Broker Agents Risk 52

Protect Commercial Insurance

FEBRUARY 10, 2022

Key changes The new rules have brought some key changes to the way General Insurance works: Equivalent policy premiums should not be higher for existing customers than for new customers. During th e term of cover, at any time a policyholder may opt-out of auto-renew. Premium reductions? Premium increases?

Premium 52

Premium Broker Commercial Insurance Commercial 52