4 Trends Shaping the Commercial Property and Casualty Insurance Industry

insurance trends in commercial property sector

The year 2022 was the worst one for the property insurance and casualty insurance industry (P&C) since 2011. Insurers are likely to pay out billions of dollars due to severe weather conditions in the United States.  Hurricane Ian, which struck Florida in late 2022, caused the second largest insured losses after Hurricane Katrina, resulting in $65 billion alone. Swiss Re has revealed that the natural catastrophe losses of more than $100 billion surpassed the ten-year average by 40% last year.  Even AM Best’s new special report has made shocking revelations.…

Read More

Exclusive Agent vs Independent Agency: An Inside Point of View

exclusive agent vs independent agency

What does separate an exclusive agent from the independent agent?  In my job, I am allowed to visit with mortgage companies and realtors in an attempt to help drum up business for myself and my company.  At one particular visit, I was posed a question by a realtor owner and friend. He asked, “What separates your company, an exclusive Allstate agency, from the independent agency that also has Allstate?”  At that time, it was early in my insurance career and I didn’t have an answer for him. It was a…

Read More