S&P Expects Inflation Will Push P&C Combined Ratio Over 100% in 2022
In its latest U.S. Property & Casualty Insurance Market Report, S&P Global Market Intelligence predicts inflation will send the property and casualty insurance industry into its first unprofitable year since... continued.
NHTSA Reports 10.5% Increase in Fatal Traffic Accidents
A recent report by the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) found an estimated 42,915 fatal traffic accidents in 2021. This is a 10.5% increase from... continued.
Study: Insurers Suspect Rise in Fraudulent Claims Since Start of Pandemic
Insurance professionals’ suspicions about fraudulent claims have increased during the pandemic as fraudsters have become more creative, according to a recent survey. The survey by FRISS, a provider of fraud and risk... continued.
Construction Costs Outpacing Property Rate, Limit Increases
Property insurers are not raising coverage limits and rates to keep pace with inflating construction costs, according to a Moody’s Investors Service report. Rising costs for construction materials and labor... continued.
Hurricane Insurance Coverage Considerations
For businesses in coastal regions, hurricanes are a potentially devastating risk. However, as hurricanes become frequent and severe, some private insurers may not provide coverage to companies located in high-risk... continued.
Invasion’s Impact on CPI, P/C Replacement Costs
Russia’s invasion of Ukraine since Feb. 24, combined with persisting supply chain disruptions related to the pandemic, continue to drive inflation as measured by the Consumer Price Index (CPI). From a property/casualty... continued.
Spring Storm Safety Tips for Businesses
Spring can bring about some of the year’s most dangerous weather and wreak havoc on many aspects of a company’s operations. This article discusses the weather threats to watch out... continued.
Workplace Accidents and Injuries Are Most Costly Cause of Loss for Roofers: Data Spotlight
Workplace accidents and injuries have the highest median loss cost of all roofing-related losses, according to Advisen loss data. Common causes of loss include slips, trips, falls, injuries caused by... continued.
Commercial Property Insights: Aging Noncombustible Construction
A building’s pre-engineered metal is an important factor in determining the longevity of a building. Noncombustible construction (ISO type 3) uses minimal combustible materials in the framework. In this type... continued.
Commercial Property Insurance Rating
Understanding the outside factors that impact your commercial property insurance can be complicated, particularly for those with little to no knowledge of what goes into the underwriting process. While the... continued.