Pennsylvania Approves Workers’ Compensation Cost Cut
As of April 1, 2022, Pennsylvania businesses should begin to see a decrease in their premiums due to a loss-cost filing from Acting Insurance Commissioner, Michael Humphreys, which includes a 6.25% loss-cost reduction. Though, Humphreys stated that n...
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Commercial Insurance Premiums Up in Q4
Lines of commercial insurance experienced premium renewal increases in the fourth quarter. Those lines included general liability, commercial property, umbrella, and commercial auto. Inflation and economic uncertainty have been named the biggest fact...
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Insurers Making Waves with Wider Use of IoT Leak and Temperature Sensors
Internet of Things technology is changing the way insurers protect property from water damage. Many are beginning to add these devices to commercial, institutional, and residential properties to help prevent major losses like detecting leaks and dras...
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Why Construction Companies Need to Worry About Cyber Risks
In construction, cyber risks may not seem like a relevant issue. The construction industry may not seem like an obvious target of cyber criminals compared to industries like healthcare, retail or technology. Ransomware attacks often focus on companie...
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Insurance rate hikes expected to moderate as capacity rises
Commercial insurance buyers in North America should see relief from the hard market next year with a few lines seeing flat renewals or even decreases, according to a report from Willis Towers Watson PLC. Several lines, such as cyber liability, though...
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