In recent years, Americans have witnessed a troubling trend: natural disasters are becoming more frequent and severe, exacerbating the financial burden on individuals and the insurance industry. Hurricanes, wildfires, and extreme weather events have escalated in both number and intensity, largely
The Marsh Global Insurance Market Index for the fourth quarter of 2024 reveals significant shifts in global commercial insurance rates, reversing a seven-year trend of consistent rate increases. The overall global insurance rates declined by 2%, marking the second consecutive quarterly decrease.
In today's volatile market, commercial property owners face numerous challenges in securing comprehensive insurance coverage. Escalating property values, tighter insurance markets, and the pervasive effects of climate change have made it increasingly difficult to protect financial stability. With
Insurance is often considered a safety net, a way of mitigating risks and protecting valuable assets like homes and vehicles. However, the intricacies of how the industry operates can sometimes lead to unexpected outcomes, as John Rosso of Prairieville discovered. Rosso’s unfortunate experience
The potential economic impact of climate change on property values in the United States is becoming increasingly evident. Human-driven climate change could lead to net property value losses amounting to $1.47 trillion due to rising insurance costs and changing consumer demand. This significant
The coastal regions of North Carolina have been at the center of a heated debate over homeowner insurance rates. The North Carolina Rate Bureau (NCRB) initially proposed a nearly 99% increase in premiums for homeowners in the tri-county beach areas, sparking significant public outcry. This proposal
