Category: Uncategorized

Wakefield Research conducted a survey that produced some intriguing data about small business owners’ insurance knowledge and expertise. A general insurance knowledge test was taken by all respondents, and 96% of them failed. Three out of ten respondents of the survey acknowledged that their company is not covered for hard times by any type of… Read more »

The American local bar and restaurant market size was worth around $35.3 billion in 2022. According to a report, over 50,000 businesses occupied the market in 2023, driving the 5-year annual growth rate to around 5.9%. The industry has faced the odd downturn and there are many issues that bar and restaurant owners face including… Read more »

It’s well-known that Americans are dealing with multiple chronic diseases. Around 42% of us have 2 such diseases, and around 12% of the population has 5 such chronic diseases, which is a worryingly large number. And this is costing us. Reports suggest that around $4.4 trillion was spent on health globally in the US in… Read more »

The American commercial property market has always seen tremendous changes as well as growth. However, post-COVID commercial properties, especially corporate offices, have seen a marked and steady downward trajectory. The market for US commercial real estate was around $1.66 trillion in 2024 and it is expected to reach around $1.89 trillion by 2029. Let’s look… Read more »

The financial products industry has used underwriting since the eighteenth century. However, underwriting has become a lot harder in the contemporary age because of many uncertain factors like environmental changes, economic disruptions, and more. Over $21.2 billion worth of underwriting losses were faced by the property and casualty insurance sectors in the US. On the… Read more »

Small businesses are at the receiving end of about 46% of all cyberattacks. Their protection is limited and sometimes non-existent, making them easy targets. The lack of technical skills and domain understanding among owners also contributes to this. What can small businesses do? Well, the right insurance and knowledge can help. Possible threats small businesses… Read more »

It is estimated that around 150 million people use Airbnb worldwide and around 45 million of them are in the US. The short-term rental community is growing at a fast pace, especially after COVID when people were looking for safe and neat accommodation. The company’s revenue was around $8.4 billion in 2023. However, these rental… Read more »

On March 26, a container ship collided with the Francis Scott Key Bridge over the Patapsco River in Baltimore. Eight construction workers were filing potholes on the bridge at the time of the crash. Out of the eight workers on duty, two survived the vessel’s crash, and only the bodies of the two survivors were… Read more »

The automotive sector is one of the biggest segments in the US But what about insurance? Here are some trends in car insurance and some plain facts to understand the segment better. Rise in premiums Car insurance premiums are rising. In 2024, the average car premium that a user pays will be around $1547/ year… Read more »

In 2023, the US auto insurance market was estimated to be worth $362.1 billion. Statista estimates that the number of registered cars in the United States in 2022 was close to 280 million. That’s a staggering number when you relate that to the population of the nation! According to a recent news report, there has… Read more »