Live Insurance News

Car Insurance Costs Explode in 2024 with an Overall Jaw-Dropping 26% Hike

August 21, 2024August 20, 2024 H. Cutner

Car Insurance Premiums Surge in 2024 Car insurance premiums skyrocketed by an average of 26% in 2024, pushing the national average cost for full coverage to a staggering $2,543 per year. This marks a significant rise from $2,014 in 2023 and $1,771 in 2022. Several factors contribute to this surge: The Bureau of Labor Statistics notes that while overall annual inflation was 3.2%, car insurance rates spiked 20.6%. States differ in rate increases, with New Jersey and Missouri seeing hikes of 45.69% and 44.16%, respectively. Florida and California remain among…

Florida Homeowners Insurance Market Sees Promising Shift with Depopulation Program

April 12, 2024April 11, 2024 Angela Linders

The landscape of Florida’s homeowners insurance industry is undergoing significant changes as private insurers have absorbed 275,324 policies from the state-run Citizens Property Insurance Corp so far in 2023. These changes, spotlighted during the recent Citizens Board of Governors meeting, demonstrate a strategic attempt to balance the market through a process called “depopulation.” What Depopulation Means for Consumers For consumers, the depopulation program has a direct impact on their insurance decisions. Here’s what it boils down to: if a private insurance company extends an offer that exceeds a policy owner’s…

Igniting Your New Insurance Agency or Rekindling Your Existing One – The Ultimate Guide

February 9, 2024 Loreen

Embarking on the journey of operating an insurance agency presents an intriguing challenge intertwining entrepreneurship with community service. A profitable insurance agency not only contributes to the economic fabric but also serves as a crucial pillar in protecting individuals and businesses from the unpredictable twists of fate. Central to steering this venture towards success is the crafting of a robust business plan, a compass to navigate the competitive landscape of the industry. This plan is your blueprint, laying out a clear path that encompasses your vision, identifies your target demographic,…

2018 Insurance industry trends laying the foundation for 2019

December 31, 2018December 28, 2018 G. Turner

This year took insurers and their policyholders in a new direction that will define future movements. Every year reveals different insurance industry trends and as we look back on 2018, it has become clear that it was also defined by a specific direction. Last year was seen as a time in which regulations were changing broadly but 2018 was different. In 2018, the insurance industry trends in the United States showed an inclination toward forming new alliances and remaining flexible in an evolving marketplace, according to a recent Modern Healthcare…

Insurance industry hiring evens out, though some positions remain unfilled

February 23, 2018February 21, 2018 Julie Campbell

A new study showed that insurer job availability will continue to be substantial and steady for the next year. Insurance industry hiring is stabilizing as over half of all insurers intend to boost the size of their staff over the next year. The Jacobson Group and Ward Group released their Semi-Annual U.S. Insurance Labor Outlook Study results. Fifty eight percent of insurance companies will be hiring more people in 2018, said the study. The insurance industry hiring trend is greatly supported by a predicted boost in business as well as…