Category: Uncategorized

As of 2022, over 76% of the US population had access to their own car. An additional 19% reported having access to a company or family car. Besides this, as with any other economy, the US also constitutes a massive industry of trucking firms and other vendors who engage in commercial automobile purchases. As per IBIS World,… Read more »

In the US’s major cities, auto theft increased by 21% between 2021 and 2022. While the number of auto thefts and carjackings has doubled in some cities, it has tripled in places like Memphis and Chicago. Not only this, but according to a report by the Council of Criminal Justice, overall robberies increased by more than 5%,… Read more »

A recent CNBC article on the high risk that cybercrimes pose to small businesses was eye-opening in many ways. According to it, cybercrime complaints against small businesses exhibited a 7% year-over-year increase, with overall losses compounding to $6.9 billion.  Another story describes how Kronos, a workforce management business, was the target of a ransomware attack that crippled its digital… Read more »

Seeing how workplaces had been changing, psychologist and professor Anthony Klotz coined the term “Great Resignation” in May 2021. People began leaving their jobs nationwide, which led to this potentially long-lasting phenomenon in the business world. This has had a significant impact on how businesses manage their human resources and achieve their goals. In 2022,… Read more »

Few people are familiar with or particularly attuned with insurance deductibles. The best way to define an insurance deductible is the sum of money that is deducted when a claim is made for any insurance policy — depending on the provider you select and the insurance for which you are filing a claim; this could… Read more »

In the United States alone, extreme weather conditions cost over $145 billion in 2021, killing nearly 700 people. The impact of weather on daily activities and general safety is quite severe, whether it be due to hurricanes, harsh winters, or floods. Every year, stories about how weather-related accidents have wreaked havoc, damaged properties, and taken lives… Read more »

According to a study, the global commercial insurance market will reach a market value of $1.22 trillion by 2028, growing at a CAGR of 8% during the forecast period. Government regulations and increasing theft and associated risks, etc., have made retail store insurance necessary for businesses. To tackle market competition and, at the same time, safeguard… Read more »

Small businesses are just as vulnerable to cybercrime as multinational corporations. According to a report, there were about 847,376 reports of cyberattacks and suspicious activity in 2021. The average cost of a data breach worldwide in 2022 was over $4.35 million, an evident increase from the previous year when it stood at $4.24 million. The majority of small… Read more »

The world is changing, and so are people’s habits and preferences. And this can be attributed to the evolution in the socioeconomic environment, ever-expanding technology interventions, and supply chain disruptions. Insurance may appear to be unaffected by these aspects, but market fluctuations of any kind have a significant impact on the industry. In addition to… Read more »

As per Coalition Against Insurance Fraud, Americans are often victimized by fraudsters, with over $308.6 billion lost annually. This number unmistakably demonstrates that many are still out of touch with how insurance works and how to spot con artists. Fraud can be of any kind, and scammers take advantage of the fear the general public have with… Read more »