Commercial property insurance buyers will continue to see higher prices in 2021, with rate increases in the high-single digits to 15% range even on clean accounts. Rate increases on loss-hit accounts will be even higher, according to a new forecast.
Insurance agents and brokers should prepare for a big agency errors and omissions (E&O) litigation wave to crash their shores in 2021. Agency E&O claims are a lagging indicator, meaning plaintiffs typically only go after agents and brokers after they exhaust other legal avenues — most often suing insurers — and come up short.
Auto theft appears to have increased considerably in 2020 compared to 2019, reversing two years of auto theft declines. A preliminary analysis shows there were 873,080 auto thefts in 2020, or almost 2,400 a day. That’s a 9.2% increase over 2019.
Prioritizing vaccination of high-risk individuals has only a marginal effect on the number of COVID-19 deaths, says a new study. To obtain significant improvements, it would be better if a very large fraction of a city or town population is vaccinated.
A wide range of factors are leading to the increased number of people living in high-risk areas, including lack of information available to home buyers, lack of political will to prevent development in high-risk areas and the overall increased risk of wildfires and floods.
The number of consumers willing to share significant data on their health and lifestyle habits with their insurer to reduce premiums has grown over the past two years, but their trust in insurers to look after that data has fallen, according to new report.
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