Trends Archives - Insurance Journal Research

Artificial Intelligence, Insurers and Insurance Agents

josh — Tue, 09 Apr 2024 22:23:59 +0000

Generative AI applications are making many tasks easier while at the same time creating uncertainty.

This session is designed to help relieve some of that uncertainty.

What: Training + Q&A
Length: 1 Hour

Watch now as Tom Wetzel breaks down how we can use current generative AI tools to better serve our customers.

Instructed by: Tom Wetzel

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Hard Market Strategy Bundle

josh — Fri, 24 Nov 2023 14:51:53 +0000

This year has seen one of the most difficult insurance markets in anyone’s memory.

That’s why we created our year-end Hard Market bundle.

You get three special video recordings from this year.

🪨 The Sinking Florida Property Insurance Market: A Panel Discussion

🪨 No One Said It Would Be Easy. Navigating the Current Hard Market

🪨 Trends in the Surplus Lines Industry 2023

You also get these two bonuses:

🪨 Transcripts for each recording

🪨 A compilation of several Insurance Journal hard-market articles in a searchable PDF

Each of these classes retails for $129 but today you get this $387 value and the additional resources for $39.

Act now because the Black Friday deal ends soon!

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What Should Agencies Do Given the Current Condition of the Insurance Market?

josh — Thu, 20 Jul 2023 21:02:49 +0000

No one said it would be easy. Hard markets are a fact of the insurance world and we are in one now.

Watch now as Patrick Wraight, Academy Director of Education, hosts a panel of experts to discuss the current hard market.

They discuss what’s really going on, and how agents can navigate the difficulties they are seeing in the marketplace.

NOTE: We are currently offering this class free as a service to the insurance industry. Please don’t miss this limited offer.

The insurance market goes through cycles. In a soft market, the prices go down, policies are favorable to the insured, and the underwriting is relaxed. When the market turns and hardens, that all goes away. Prices go up. Underwriting gets strict. Exclusions appear everywhere.

The indications are that we are involved in a serious hard market. There have been record insolvencies in Florida. Several carriers have stopped writing new business in California. Insurers in every state are reacting to the hardening market.

The Academy of Insurance has brought together a panel of experts to discuss what is going on in the market and how agents can respond to it. Our panel for this conversation includes two Academy faculty members, Nancy Germond and Bill Wilson. Our third member of the panel is a newcomer to the Academy, Scott Margraves. Academy Director of Education, Patrick Wraight, will moderate the conversation.

The post What Should Agencies Do Given the Current Condition of the Insurance Market? appeared first on Insurance Journal Research.

Trends in the Surplus Lines Industry 2023

josh — Tue, 14 Mar 2023 18:12:01 +0000

Academy of Insurance hosts “Surplus Lines Industry Trends for 2023”, featuring Chris Behymer.

Do you need insights about latest trends in the Surplus Lines Market? If so, don’t miss this recorded event!

Access is free to Insurance Journal subscribers for a limited time (a $129 value).

You will learn:

A historical perspective on the volume of business written by surplus lines carriers
Property challenges associated with wildfires, hurricanes, hailstorms, and other natural catastrophe events
The impact of multi-million-dollar jury verdicts for general liability and auto lawsuits
Professional liability issues with a focus on cyber coverage
How mergers and acquisitions have changed the face of the distribution system
and more!

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The Sinking Florida Property Insurance Market: A Panel Discussion

josh — Tue, 24 Jan 2023 20:02:12 +0000

Patrick Wraight, Academy of Insurance Director, brought together four experts to discuss Florida, what happened in property insurance in 2022, what might happen in 23, and what it may mean for the rest of the country.

During the event, the panel dives deeper into:

— What happened in Florida and property insurance in 2022,

— What the year ahead may look like,

— Impact the special legislative session may have for Florida,

— What it means for the rest of the country, and more.

Joining Patrick are:

— Rob Norberg, AAI is an Independent Agent and Insurance Nerd Rock Star. He is the president of Arden Insurance Associates in the West Palm Beach area. Rob is a 22-year insurance industry veteran in South Florida.

— Ali Potter Clough, CPCU is an insurance consultant, author, and speaker. She is the Owner of Abi Leads, LLC and lives in the Tampa area.

— William Rabb is the Southeast Editor at Insurance Journal. He is in the Panhandle.

— Lisa Miller is the CEO of Lisa Miller & Associates. She is a podcast host, writer, and insurance advocate. She is in the Tallahassee area.

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Continuation of Research on Traffic Safety During the COVID-19 Public Health Emergency

Pamela Simpson — Wed, 29 Dec 2021 18:59:07 +0000

This NHTSA Research Note updates traffic safety behavioral research findings during the COVID-19 public health emergency through the first half of the 2021 calendar year. Findings suggest an increase is risky driving behavior for this period.

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The Legalization of Marijuana in Colorado: The Impact

Pamela Simpson — Wed, 03 Nov 2021 12:14:31 +0000

The Colorado Department of Public Safety, Division of Criminal Justice, Office of Research and Statistics reports on the impact of legalization of marijuana on Colorado’s roads, schools, children and criminal activity. The trends from year to year offer insight into the impact of legalization this state is experiencing, as well as comparatively to national figures.

The post The Legalization of Marijuana in Colorado: The Impact appeared first on Insurance Journal Research.

Insurance Journal’s Top 100 Independent Property/Casualty Agencies List 2021

Pamela Simpson — Wed, 28 Jul 2021 20:15:57 +0000

Now in its 17th addition, the Top 100 list is ranked by total property/casualty 2020 agency revenue and comprises only those agencies whose business is primarily retail, not wholesale. This download also includes:

Top 20 Banks in Insurance Brokerage Fee Income
Top 20 Bank Holding Companies in Insurance Brokerage Fee Income

We thank SmartChoice for making these lists free to our audience!

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First Half 2021 Data Breach Analysis

Pamela Simpson — Tue, 13 Jul 2021 16:36:05 +0000

“Data Compromises are Up, Individuals Impacted are Down” is the overall trend reflected in new stats prepared by the Identity Theft Resource Center. The financial industry saw both in increase in compromises and individuals impacted in the first half of 2021, over the first half of 2020. This report offers insights on publicly reported data … more

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Cyber Insurance: Insurers and Policyholders Face Challenges in an Evolving Market

Pamela Simpson — Tue, 06 Jul 2021 17:33:34 +0000

The National Defense Authorization Act for Fiscal Year 2021 includes a provision for GAO to study the U.S. cyber insurance market. This report describes (1) key trends in the current market for cyber insurance, and (2) identified challenges faced by the cyber insurance market and options to address them. Published by the United State Government … more

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2021 Future of Benefits Study

Pamela Simpson — Fri, 25 Jun 2021 13:46:38 +0000

New research from The Hartford found 70% of employers now recognize employee mental health is a significant workplace issue, and 72% said stigma associated with mental illness prevents U.S. workers from seeking help.

Further, 52% of employers said they are experiencing significant or severe workplace issues due to substance misuse or addiction among their employees. This 4-page overview offers highlights from the study, including recommended actions to break down the stigma of mental illness in the workplace.

We thank The Hartford for sharing this with our audience.

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Managing Wildfire Risk for Contractors

Pamela Simpson — Tue, 25 May 2021 17:56:40 +0000

This new report by Aon, provides an overview of the state of insurance for contractors facing wildfire risk. This report also shares best practices for contractors to follow to make sure they are seeking and obtaining the right coverage.

We thank AON for sharing this report with our audience.

The post Managing Wildfire Risk for Contractors appeared first on Insurance Journal Research.

Cyber Insurance: Insurers and Policyholders Face Challenges in an Evolving Market

Pamela Simpson — Thu, 20 May 2021 21:07:51 +0000

The United States Government Accountability Office (GAO) analyzed industry data on cyber insurance policies; reviewed reports on cyber risk and cyber insurance from researchers, think tanks, and the insurance industry; and interviewed Treasury officials. GAO also interviewed two industry associations representing cyber insurance providers, an organization providing policy language services to insurers, and one large cyber insurance provider.

This report includes the following data:

Cyber Insurance Take-up Rates for a Selected Large Broker’s Clients, 2016–202
Cyber Insurance Take-up Rates for a Selected Large Broker’s Clients, by Industry, 2016–2020
Direct Written Premiums and Policies in Force for Cyber Insurance, 2016–2019
Change in Cyber Insurance Premiums, 2017–2020

We thank the GAO for sharing this report with our audience.

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Florida’s P&C Insurance Market: Spiraling Toward Collapse

Pamela Simpson — Wed, 03 Feb 2021 14:07:17 +0000

This new report, highlighted in Amy O’Connor’s recent Insurance Journal article, was commissioned on behalf of Florida citizens, and Florida’s economy to meet 2 objectives:

Determine the validity of a perceived P&C market crisis and if proven, determine the root
causes.
Define viable public policy solutions in order to provide residential property owners in Florida
with reliable, available, affordable, and adequate P&C insurance to meet their needs, while also
returning the P&C sector to a viable growth sector benefiting Florida’s economy.

Download this report for a comprehensive analysis of the Florida P & C market, including:

Litigation Frequency
Litigation Severity
Bottom Line Industry Economics
Scenarios: Florida’s P&C Industry 2021-2025
Public Policy Recommendations

Guy Fraker, Principal IE Advisory, Cre8tFutures, Adjunct Scholar James Madison Institute (JMI)

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Three ways COVID-19 is changing insurance

Pamela Simpson — Fri, 18 Dec 2020 15:51:55 +0000

The new report is based on a survey of more than 47,000 consumers globally. Through this survey, Accenture aims to understand how consumers’ experience with, and expectations of, insurance products and services during the pandemic may drive permanent changes in the industry.

We thank Accenture for sharing the results of this survey with our audience

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