"The Business of Insurance," this week to include the latest industry news. (Photo: Shutterstock)" width="620" height="372"/> We updated our Instant Insights page, "The Business of Insurance," this week to include the latest industry news. (Photo: Shutterstock)
We are just a few weeks into the second quarter of 2020, so it's a great time to look back at the first months of the year for a snapshot of the state of the business, from rating and renewal activity to market trends.
For example, commercial renewal rates in Q1 2020 reached an all-time high of 5.4% across all product lines, says data from IVANS. Also, in the first quarter, unemployment in the insurance industry dropped from 2.6% in January to 1% in February.
As we all learn to navigate the new normal around the coronavirus, it can be difficult for insurance professionals to keep up with the behind-the-scenes aspects of the business.
We updated our "The Business of Insurance" Insight Insights package this week to include the latest articles on market activity, M&A deals, coverage changes, and more. Updated weekly, this package of articles will help brokers, underwriters, claims professionals, and others maintain a competitive edge.
Visit our Instant Insights page, "Business of Insurance," to read up on the most recent developments happening in insurance.
Related: Stay in-the-know about all things personal lines
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
