Business of insurance: The latest industry news

We updated our 'The Business of Insurance' Instant Insights page this week to feature the latest industry information.

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