June brought the hard market into full focus, with companies pulling back from the property and auto insurance markets thanks to inflation, construction costs and catastrophe losses.
June brought the hard market into full focus, with companies pulling back from the property and auto insurance markets thanks to inflation, construction costs and catastrophe losses.
Independent Agent magazine is the authoritative source of information for professionals who sell insurance for independent agencies. Whether it's a seasoned agency principal, producer, or account representative, Independent Agent helps agency employees increase sales and deliver an industry-leading customer experience.
In addition to thought-leading analysis of industry trends and market conditions, Independent Agent covers property & casualty coverage changes and new products, interprets legislative issues, and delivers the strategies managers need to grow their agencies.
Here are the most-read articles on iamagazine.com in June:
5) Commercial Building: New Roof Damage Over Pre-Existing Damage?
By Big “I" Virtual University Faculty
The building's previous owner may have not replaced the roof after a previous hail storm, and the carrier denied the current owner's claim after a more recent hail storm because it's classified as old damage.
4) Triple Net Lease: The Problems With Leaving Insurance Up To the Tenant
By Big “I" Virtual University Faculty
What issues might come up if a property owner does not carry their own property and liability insurance because, based upon the triple net lease, the tenant must provide all of this insurance for the landlord?
3) Can Agents Help Homeowners Manage Increasing Rates?
By Olivia Overman
Filing a claim against a homeowners policy can be both a complicated and costly matter, but can be made significantly less costly when agents provide advice on how to avoid the worst claim mistakes.
2) State Farm Withdraws From California Homeowners, Commercial Property Market
By Will Jones
State Farm cited the hard market and protecting the company's bottom line as the reason for the withdrawal.
1) Companies Pull Back from Property and Auto Insurance Markets
By Will Jones
Nationwide announced it is pausing writing business in certain lines of insurance, joining the list of insurers who have withdrawn from markets.
Compiled by AnneMarie McPherson Spears, IA news editor.
