From the continued heat in the personal auto market to the consequences of risk misclassification and emerging risks, such as short-term rentals and lithium batteries, June's articles provided an analysis of industry trends and market conditions.
Summer kicked off with more heat in the personal auto market with a LexisNexis report confirming that high claims severity shows few signs of cooling off in the near future. Independent Agent also covered the consequences of misclassification, as well as emerging risks, such as short-term rentals and lithium batteries. But, in better news, Independent Agent highlighted 10 young independent insurance agents making their mark on the insurance industry.
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 p&c coverage changes and new products, interprets legislative issues, and delivers the strategies managers need to grow their agencies.
Here are the five most-read articles on iamagazine.com in June:
5) Thermal Runaway: How Lithium Batteries Change Commercial Property Risks
By Benjamin Peetz
Although commercial property insurance typically covers fire damage, the unique risks posed by lithium-ion batteries can often necessitate additional policy endorsements.
4) 3 Safety Tips Agents Should Offer to Short-Term Rental Hosts
By Olivia Overman
For hosts of Airbnb and Vrbo properties, there are options that an independent insurance agent can offer, as well as numerous tips agents should relay to their clients to avoid a claim.
3) Owning It: Meet 10 Young Agents Building a Future in the Independent Agency Channel
By AnneMarie McPherson Spears
Learn what this next generation of agents has to say about what brought them to insurance, where the industry is headed—and how they fit into it.
2) The Consequences of Misclassifying Risk
By Mike Feber
From inadequate coverage to unexpected costs and lawsuits, the risks of misclassification are real and can have a lasting impact.
1) Auto Claims Severity Up Significantly Since 2020 With No Sign of Slowing
By AnneMarie McPherson Spears
Risky driving patterns continue to rise with instances of speeding, driving under the influence and distracted driving all increasing in 2023, according to LexisNexis.
Compiled by AnneMarie McPherson Spears, IA news editor.
