Industry News
Majority of Small Biz Leaders Think AI Will Play ‘Crucial Role’ in Work Safety
More than half of small business leaders believe artificial intelligence will play a "crucial role" in worker safety over the next five years, according to a new report from Pie Insurance. A survey ...
$1 Trillion! 2024 P/C Industry Direct Premiums At Record Level
An industrywide direct written premium total of $1.05 trillion in 2024 marked the first time in the history of the industry that U.S. property/casualty insurer premiums eclipsed $1 trillion, ...
Trump’s Auto Tariffs to Cover Hundreds of Billions of Dollars of Vehicle, Parts Imports
U.S. President Donald Trump's 25 percent auto tariffs will cover hundreds of billions of dollars worth of imports of vehicles and auto parts imports annually, according to a Reuters analysis of ...
IRC Finds Personal Auto Insurance Affordability Better Than in the 2000s
According to a new report from the Insurance Research Council, auto insurance is more affordable now than at the start of the 21st century. The IRC, an affiliate of The Institutes, concluded that the ...
Car Insurance Costs Up 42% Since ’22: Biggest ’24 Hikes in Minn., Maryland
New data highlights the increasing cost of car insurance, with rates rising 15 percent last year, according to a recent Insurify report. Average car insurance rates range from $2,300 to $3,000 in the ...
Risk Digitization Top Tech Priority for U.S. Insurers
Risk digitization was cited as the primary technology priority for revenue growth in a recent study from InsurTech Cytora. Cytora surveyed 200 senior leaders from global insurance firms and found ...
HOA Secures $2.5M ‘Wildfire Resilience Insurance’: WTW
Willis, a WTW business, and The Nature Conservancy (TNC) jointly announced the launch of an insurance policy for a private homeowners association in California—available and affordable because the ...
Future of Auto Insurance: OEM-Insurer Ties Could Boost Profits, Loyalty
The fragmented auto insurance customer experience is set for disruption, according to a new report by Deloitte. The report, "Reinventing the insurance customer experience for loyalty," highlights how ...