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The U.S. property and casualty (P&C) insurance industry is celebrating a significant turnaround, reporting an estimated $170 billion in net income for 2024. This figure, released by Verisk and the American Property Casualty Insurance Association (APCIA), marks a notable recovery from previous years, particularly after the industry faced challenges in 2023. Excluding over $70 billion … Read more

Transportation fleets are facing tough challenges as road accidents and serious injuries keep rising. In light of these alarming trends, fleet operators and risk management experts are looking for ways to create safer work environments. They are focusing on building strong safety cultures within their organizations. This effort goes beyond just improving driver safety through … Read more

New Jersey is taking steps to improve oversight of life insurance companies with new rules aimed at how these insurers handle their reserves for term and universal life policies. The proposed regulations were published on March 17, 2025, and aim to align state practices with national standards set by the National Association of Insurance Commissioners … Read more

A jury in North Dakota has ruled that Greenpeace is liable for defamation and conspiracy related to its protests against the Dakota Access pipeline. The jury awarded Energy Transfer LP, the company behind the pipeline, a staggering $660 million in damages. This verdict, reached earlier this week, has raised concerns among legal experts about its … Read more

Young insurance agents are being invited to share their thoughts in the 2025 Young Insurance Agents Opinion Survey, organized by Insurance Journal. If you are 40 years old or younger and work in the insurance industry, your insights are valuable. The survey aims to gather opinions on the industry, agency experiences, and what young agents … Read more

Delaware lawmakers are gearing up to vote on a significant change to the state’s corporate law next week. This move aims to maintain Delaware’s reputation as a business-friendly state, but critics argue that it mainly benefits wealthy shareholders. The proposed legislation makes it tougher for investors to sue over specific transactions involving controlling shareholders. For … Read more

Texas lawmakers are taking steps to change how prescribed burns are managed in the state. They are considering a new bill that would create a state-run insurance pool specifically for those who conduct these controlled burns. This move aims to provide better liability coverage for burn managers, who play a crucial role in managing vegetation … Read more

Specialty insurance is both exciting and challenging, according to John Vedder, the regional president of property and casualty at Bridge Specialty Group. In a recent conversation, he emphasized the dynamic nature of the industry, highlighting the many opportunities it presents for innovation and problem-solving. Vedder shared insights on the importance of education and collaboration in … Read more

Montana lawmakers are taking a bold step to reshape how the state handles property taxes. A new bill has been introduced that aims to redirect funds from the insurance sector to provide relief for property taxes. This move is expected to stir up discussions among voters and industry professionals alike. The bill, known as LC … Read more

The insurance industry is facing a significant talent shortage, creating challenges for independent agents. The Bureau of Labor Statistics predicts a 5% drop in claims professionals and around 21,500 job openings each year for the next decade. This situation makes it tough for smaller, community-focused agencies to compete with larger firms, especially when they have … Read more