Category: Insurance News

Growing EV Insurance Market Faces Profitability Challenges: Swiss Re

Growing EV Insurance Market Faces Profitability Challenges: Swiss ReThe global market for electric vehicle (EV) insurance is rapidly expanding, estimated to quadruple by 2030, but higher accident rates and steeper repair costs for EVs are creating challenges for insurers to maintain underwriting profitability in this burgeoning market segment, according to a new report from the […]

Hard Market Challenges Spur Opportunities for Independent Agents: Study

Hard Market Challenges Spur Opportunities for Independent Agents: StudyThe insurance industry is facing its toughest market conditions in a generation, with rising rates and stricter underwriting creating headaches for agents in the form of difficult renewal conversations and challenges placing new business. The 2024 Agent-Customer Connection Study, conducted by Liberty Mutual and Safeco Insurance, examined […]

Legal System Abuse/Social Inflation Adds Costs and Challenges for US Casualty Insurance: AM Best

Legal System Abuse/Social Inflation Adds Costs and Challenges for US Casualty Insurance: AM BestThe impacts of legal system abuse-driven social inflation has become a significant challenge for the U.S. casualty insurance industry, particularly driving up loss costs in lines such as products liability, general liability, commercial auto, and medical professional liability, according to AM Best. […]

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