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The WSJ reports that home insurance is up 50% and auto up 42% since 2020, while overall consumer prices rose just 26%. Politicians in Illinois, Louisiana, and New York are responding with price caps and rate restrictions. It can even get personal: A billboard on an interstate highway in Louisiana attacks the state insurance commissioner as "Trust Fund Tim." Soaring costs always present a challenge in customer experience. Carriers are making actuarially sound decisions based on catastrophic losses and reinsurance costs. But if customers can't understand why their rates are increasing—at the precise moment they're deciding whether to renew—trust evaporates. Our Property & Casualty Insurance Monitor research shows that insurers can soften the blow of these rate increases with better communication around policy renewals. With customer acquisition costing nine times more than retention, you'd think insurers would excel at renewal communication. They often don't. What we found in our report on policy renewal: - Renewal messaging is inconsistent across policyholder sites - Only 73% of carriers alert policyholders on their homepage about upcoming renewals - Few insurers incorporate robust educational resources into renewal messaging - Promotion of renewal documents varies widely We did like aspects of how certain firms handled policy renewal: - Allstate offers abundant renewal messaging across its policyholder site and allows users to set additional communication preferences - Liberty Mutual Insurance provides a policy comparison tool on the Your Renewal Policy page that clearly lists current versus renewal coverage costs and premiums The renewal moment is where retention is won or lost. Carriers that invest in transparency, proactive education, and tools that help customers understand their options will weather this crisis. Those that treat renewal as an administrative formality will face both customer defection and regulatory backlash, and maybe even a billboard or two. Our research shows the playbook exists—most insurers just aren't using it. Want to see how your renewal experience compares to industry leaders? Let's talk. https://lnkd.in/ek6zrm_a #Insurance #CustomerExperience #PropertyCasualty #PolicyRenewal #FinancialServices

Florida’s state insurer, Citizens Property Insurance, just dropped nearly 200,000 policies in one week 😮 Private insurers are taking over through the state’s “depopulation” program — bringing Citizens’ policy count to its lowest level since 2021. Good news for the market, but some homeowners could see higher rates if they’re moved to private carriers. #FloridaInsurance #RealEstateNews #Homeowners #PanamaCityBeachRealEstate #InsuranceUpdate

🌴 Finally, some good news for Florida policyholders! After years of steep premium increases, a few private insurers are starting to reduce rates — a promising sign that Florida’s insurance reforms are working. As someone who follows this space closely, it’s encouraging to see early signs of stabilization across both home and auto markets. 🏡 Home Insurance Relief: Florida Peninsula Insurance Company recently filed for an 8.4% average decrease on homeowners’ policies and a 12% reduction for condo policyholders. 🔗 Insurance Journal article Security First Insurance Company announced a 5.2% drop for homeowners (HO-3) and a 5.9% cut for renters’ (HO-4) coverage. 🔗 Insurance Journal source 🚗 Auto Insurance Movement: GEICO filed for a 10.5% reduction, and Progressive followed with an 8.1% decrease for Florida drivers. 🔗 Carrier Management article The Florida Office of Insurance Regulation also reported an average 6.5% rate drop among the state’s top auto insurers. 🔗 FLOIR Bulletin 💡 Why these matters: These changes reflect a healthier underwriting environment — less litigation, more stability, and (finally) some relief for Floridians who’ve weathered record rate hikes in recent years. If you’re a Florida homeowner or driver, it may be worth reviewing your renewal documents to ensure you’re benefiting from these rate updates.

Florida's insurance market continues to show signs of stabilization. Security First Insurance, one of the state's largest property insurers, has announced an 8% average statewide rate decrease, following similar reductions by other carriers after Florida's 2022 insurance reforms. This move could bring some long-awaited relief to policyholders, signaling improving conditions within a market that has faced years of volatility. Read more about the implications for homeowners, insurers, and the future of Florida's property insurance market: https://lnkd.in/eVCSvvGT #BoggsLawGroup #FloridaInsurance #InsuranceReform #InsuranceLaw #HomeInsuranceUpdates #PolicyholderRights #FloridaHomeowners #InsuranceMarket #InsuranceNews #LegalInsight #PropertyDamageLaw

Interesting article about how cost of living pressures can incentivise governments to consider populist but counterproductive solutions to insurance affordability challenges. Thankfully, the conversations in Australia are more mature and nuanced from all stakeholders, and there's no talk of price caps by regulators or government bodies. But the US is a bit like the ghost of bad policy futures for Australia. It's what lies ahead if we as an industry don't get the public messaging re cost drivers, risk reduction, and pricing transparency right.

𝗠𝗼𝗿𝗲 𝗿𝗮𝘁𝗲 𝗱𝗲𝗰𝗿𝗲𝗮𝘀𝗲𝘀 𝗳𝗼𝗿 𝗮𝘂𝘁𝗼 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲! For the third and fourth times this fall, auto insurers are seeking rate decreases. Today it’s two Allstate companies, 𝗔𝗹𝗹𝘀𝘁𝗮𝘁𝗲 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝗻 and Encompass Insurance of America’s National General. Both requests have been approved by Commissioner Temple. 𝗔𝗹𝗹𝘀𝘁𝗮𝘁𝗲 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝗻’𝘀 decrease is 7.6% for 10,746 personal auto policyholders in Louisiana. The change takes effect on Jan. 8, 2026. Encompass Insurance will decrease rates by 15% for 1,516 personal auto policyholders and takes effect on Dec. 8, 2025. Rate changes are statewide averages, so each policyholder’s rate change will vary based on their individual risk. Temple said, “This is more good news for Louisiana drivers. As they seek rate decreases, companies such as Allstate are telling me that they have confidence that Louisiana is taking the steps to create a healthier market.” Read more here:

"The total P/C industry expects to see a 7% growth in premium in 2025, Conning said. Commercial property and commercial auto will experience higher premium growth rates, at 12% and 11% respectively. Homeowners insurance expects to see a 10% annual premium growth with personal auto insurance coming at about a 7% annual premium growth rate."

Renters Insurance: Why Your Landlord’s Policy Won’t Protect You Think your landlord’s insurance covers your belongings? It doesn’t. A landlord’s policy only protects the building itself, not your personal property or liability. That’s where renters insurance comes in. ✅ What Renters Insurance Typically Covers: Personal Property: Covers belongings like furniture, electronics, and clothing if they’re damaged by fire, theft, or water leaks. Liability Protection: If someone gets injured in your rental, liability coverage can help with medical bills and legal fees. Loss of Use: If your rental becomes unlivable due to a covered event, this helps pay for temporary housing and extra expenses. 💰 It’s More Affordable Than You Think Renters insurance typically costs $15–$30 per month—less than a streaming subscription! Many insurers offer bundling discounts when you combine renters and auto insurance. Don’t wait until it’s too late. Renters insurance is an easy way to protect your belongings and finances from unexpected disasters. #RentersInsurance #ProtectYourStuff

🌞 Florida's Home Insurance Market Shows New Promise For the first time in years, Florida's homeowners insurance market is showing real signs of stability. With new insurers entering the state and key reforms taking hold, homeowners could see more options and a stronger sense of security in 2025. Our latest blog from Boggs Law Group explains what's changing and what Florida homeowners should still keep in mind when reviewing their coverage. 🔗 Read the full blog: https://lnkd.in/eP5dYja6 #FloridaHomeowners #HomeInsuranceMarket #InsuranceReform #BoggsLawGroup #PropertyInsurance #InsuranceLaw #InsuranceUpdates #FloridaLaw