Main Street Industry News - April 2025

INSIDE NAIC & PIA Agree: Do Away with the Federal Insurance Office» 7 Flood Insurance: A Growing, but Unnoticed, Need » 16 Special Report: Ransomware & Scams in 2024 » 25

April 2025 | Published Monthly

Stay in Good Form Did you know…

All users of ACORD Forms must be properly licensed through ACORD. Agents accessing ACORD Forms through their agency management system or other third-party software are required to claim a license annually.

Most PIA members are eligible for a complimentary annual ACORD Forms license.

With just one click, you can: Claim your member benefits Stay in compliance Ensure your access to ACORD Forms today! pianational.org/acord

www.acord.org/forms

Did you know that PIA’s company council, The PIA Partnership, has conducted nationwide research about the insurance buying preferences of small business owners?

The research is encouraging because it found that small business owners strongly prefer independent insurance agents as they make choices in today’s online world.

However, the results also serve as a wake-up call that agents must take steps to continue to demonstrate their value and also be more engaged online.

PIA and the companies belonging to The PIA Partnership have created a public website that helps agents understand PIA’s findings.

PIA members also have access to a private website containing a series of strategies and tools to help them stay ahead of online competition in commercial lines.

To access the newest PIA Partnership project, Small Business Insurance & The Internet — The Voice of the Commercial Lines Customer.

If you are not a PIA member and want to access all of the tools available through this program, contact us for a membership application or visit us online at www.pianational.org/header-utility-items/join/Join-PIA.

National Association of Professional Insurance Agents 400 N. Washington St., Alexandria, VA 22314-2353 www.pianet.com | membership@pianet.org | (703) 836-9340

NAIC & PIA Agree: Do Away with the Federal Insurance Office | 7 The National Association of Insurance Commissioners (NAIC) has put out its 2025 federal legislative and regulatory priorities. So has PIA National.

New Mexico Governor Wants State Run Homeowners Insurance | 8 New Mexico Governor Michelle Lujan Grisham wants to set up a state-run homeowners insurance department to write fire-only insurance.

Oregon’s SAIF CEO has Home Riddled with Bullets | 9 Hopefully, this will not become a common occurrence. The head of Oregon’s workers’ compensation insurer, SAIF had his home riddled with bullets two weeks ago.

Fatal Accidents | 10 The states of West Virginia 141.48, New Mexico 126.73, Louisiana 114.29, Tennessee 112.87 and Alaska 110.06 lead the nation in fatal accidents per 100,000 people.

Culture, Flexibility, and Growth Major Factors In Motivating Gen Z Agents | 11 What do Gen Z employees and prospects want?

Here’s a hint: providing a competitive salary and benefits are good, but just the start.

Employees & Chronic Conditions: A Hidden Workplace Problem | 12 A new study from the Harvard T.H. Chan School of Public Health and the de Beaumont Foundation says chronic conditions that employers are unaware of are harming productivity, job satisfaction and employee well-being.

assessing company used artificial intelligence to show that many millions of homes are at risk for wildfire damage and destruction.

Flood Insurance: A Growing, but Unnoticed, Need | 16 Flooding is becoming an increasing issue in the U.S. and too many people don’t know it.

Not so Safeco: Liberty Mutual to Drop the Brand | 17 Liberty Mutual purchased Safeco in 2008. It has been the insurer’s independent agent outlet for the sales of home, auto and specialty insurance.

Wonder What Consumers Wonder about Insurance? A Google Survey Reveals All | 24 Google gets lots of questions about lots of different subjects. One of them is insurance.

Special Report: Ransomware & Scams in 2024 | 25 Travelers Insurance said the fourth quarter of 2024 saw at least 1,663 ransomware attacks.

PIA NE IA EVENTS Upcoming Events Calendar 2024 | 18

ADVERTISEMENTS

Wildfire: $2 Trillion US Homes At Risk | 14 ZestiAI did some research on homes in the U.S. with wildfire exposure. The property risk April 2025 | Main Street Industry News | www.pianeia.com | 4

Contact Lindsey to place an ad at 402-392-1611.

Dependable insurance backed by

a team ready to help.

Farmers Mutual of Nebraska has been protecting the vehicles, equipment, and buildings farmers and ranchers depend on for over 130 years. We’re dedicated to supporting our independent agents with helpful product resources and continued innovation. It’s no secret that insurance backed by personalized service and unmatched financial strength gives policyholders the advantage over the unexpected.

For more information, contact: Jena Psota, CIC Vice President of Agencies jpsota@fmne.com 402.437.9263

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auto | farm | home | fmne.com

PIA FOR NEBRASKA AND IOWA PIA Association for Nebraska and Iowa is committed to focusing its resources in ways that cast the most favorable light on its constituents. We are dedicated to providing the type of programs, the level of advocacy, and the dissemination of information that best supports the perpetuation and prosperity of our members.

We pledge to always conduct ourselves in a manner that enhances the public image of PIA and adds real value to our members.

SUBSCRIBE OR COMMENT Professional Insurance Agents NE IA Attention: Editorial Main Street Industry News 11932 Arbor Street, Ste. 100 Omaha, NE 68144 Email: office@pianeia.com Ph: 402-392-1611 www.pianeia.com The PIA NE IA, Main Street Industry News reserves the right to edit your comments to fit space available. We respectfully ask that you keep the comments to 200-300 words.

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Cathy Klasi, Executive Director (402) 392-1611 Lindsey, Ad Placement (402) 392-1611 This publication is designed by Strubel Studios.

New look. Shorter name.

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ColumbiaInsurance.com • 800-877-3579

TOP STORIES

NAIC & PIA AGREE

Do Away with the Federal Insurance Office

The National Association of Insurance Commissioners (NAIC) has put out its 2025 federal legislative and regulatory priorities. So has PIA National. At the top of both lists is giving more strength in the nation’s state-based insurance regulatory system.

The NAIC’s legislative priority news release said the association wants the Federal Insurance Office (FIO) dissolved. “Ensuring the future success of the U.S. state-based system of insurance regulation demands constructive coordination with our federal peers and appropriate deference and independence of the regulatory system from federal intrusion,” the NAIC said. “For this reason, NAIC Members call for the elimination of the U.S. Treasury Department’s Federal Insurance Office, as FIO stands in direct conflict with the states' role as primary regulators, complicates the states’ engagement with fellow insurance regulators globally, duplicates confidential data collection from the insurance industry, and blurs the line that separates Treasury from independent financial regulators.”

PIA National agrees. In its 2025 policy priorities, the PIA has called for the elimination of the FIO. “The mandate of the FIO was substantially expanded by the Biden administration’s 2021 Executive Order (EO) on Climate-Related Financial Risk. In 2022, the Treasury Secretary issued a notice and request for comment on a proposed “climate-related financial risk data collection,” the PIA noted. “PIA registered its objections to this proposal, noting its potential to unnecessarily duplicate state-based regulatory data collection and the burdensome nature of its unusual level of granularity. Fortunately, the National Association of Insurance Commissioners (NAIC) has assumed responsibility for the data

call and rendered it more circumscribed than it was when FIO was handling it in the absence of state insurance commissioners.”

In today’s political climate, the PIA hopes the FIO will be one of the federal offices eliminated.

“The FIO remains a perpetual threat to the primacy of state-based insurance regulation, and the continued expansion of its authority must be stopped,” the PIA continued in its 2025 policy priorities. “To prevent its further intrusion on states’ power to regulate the business of insurance, PIA supports the FIO Elimination Act H.R. 643, which would fully repeal the office.”

The PIA also wants the Insurance Data Protection Act to be passed. It hasn’t been introduced in the 119th Congress but when it is, and if it passes, the reforms will significantly narrow the scope of the FIO’s power by taking way the FIO’s subpoena power.

Sources: NAIC and PIA National

April 2025 | Main Street Industry News | www.pianeia.com | 7

TOP STORIES

NEW MEXICO GOVERNOR WANTS STATE RUN HOMEOWNERS INSURANCE

New Mexico Governor Michelle Lujan Grisham wants to set up a state-run homeowners insurance department to write fire-only insurance. Her push hasn’t gotten very far in the New Mexico Legislature, so Lujan Grisham is asking for a commission to study the idea.

In her state-of-the-state address last week, Lujan Grisham said New Mexico is facing a fire insurance crisis because of the wildfires

April 2025 | Main Street Industry News | www.pianeia.com | 8

TOP STORIES

that have devastated the state. She told the Legislature because of the fires insurers are fleeing high-risk areas.

“Fires spurred by climate change have also ravaged communities in our state, testing our patience and resilience as we struggle under the weight of natural disasters in our backyards,” Lujan Grisham said. “As if the fires themselves aren’t difficult enough, getting insurance protection is becoming impossible, either because it’s simply no longer available or exorbitantly expensive.”

OREGON’S SAIF CEO HAS HOME RIDDLED WITH BULLETS

She wants the state-sponsored insurer to be separate from New Mexico’s FAIR Plan and says it will be similar to the state’s workers’ compensation system that offers coverage outside of the private market.

Hopefully, this will not become a common occurrence. The head of Oregon’s workers’ compensation insurer, SAIF had his home riddled with bullets two weeks ago. Since then, SAIF CEO Chip Terhune said the company has received an email from a person claiming to be responsible.

However, without legislative interest or backing, the administration has chosen to shift toward conducting a study instead.

In December of last year, UnitedHealthcare’s CEO Brian Thompson was murdered.

The Legislature, meanwhile, is looking more at helping with mitigation efforts. Senate Bill 33 — the Wildfire Prepared Act — pushes mitigation. Bill sponsor, Senator Harlan Vincent said it will make communities safer and he hopes insurance prices will drop because of those efforts.

No one was injured by the bullets that hit Terhune’s home. Police say the shooter was on foot and wearing a hoodie or a ski mask. Once the firing stopped, the man or woman fled to a nearby car and sped off.

“You’re going to see a lot of the insurance prices go down and insurance companies are going to want to insure your home because they know they’re safe,” Vincent said. “But, right now, it’s just so unpredictable because our forests are so thick.”

Authorities have not released a description of the vehicle.

If passed, the bill will take $20 million from the general fund and has bipartisan support.

Nor has anyone been able to determine a motive for the shooting. The email sent to SAIF states the shooter has knowledge of all SAIF employees and addresses and the addresses of their relatives. However, no specific threats were made to any employee just to employees in general.

Source: Insurance Business America

Source: PropertyCasualty360.com

April 2025 | Main Street Industry News | www.pianeia.com | 9

TOP STORIES

FATAL ACCIDENTS The states of West Virginia 141.48, New Mexico 126.73, Louisiana 114.29, Tennessee 112.87 and Alaska 110.06 lead the nation in fatal accidents per 100,000 people.

the immediate healthcare costs. Motor vehicle accidents, in particular, have a ripple effect, from increased insurance premiums to higher healthcare costs and lost productivity.”

These conclusions are courtesy of Seann Malloy of Malloy Law Offices who did the study. He said the main causes of accidental deaths are falls, firearms, drug overdoses and accidental poisonings.

Malloy said excellent public health programs and access to healthcare, better developed infrastructures and geographical locations help the states with the least accidents. Hawaii and New York lead the way there

West Virginia and New Mexico both had high rates of substance abuse deaths and impaired driving crashes.

These are the top five states with the fewest fatal accidents per 100,000 residents:

“States such as West Virginia should focus on increasing public health initiatives, providing better access to healthcare, and offering more extensive safety education to significantly lower fatality rates,” Malloy said. “Beyond the obvious losses to the community, the economic burden of these accidents also extends far beyond

• New York 54.97 • Hawaii 57.43 • California 59.67 • Nebraska 61.4 • New Jersey 62.12 Source: PropertyCasualty360.com

April 2025 | Main Street Industry News | www.pianeia.com | 10

TOP STORIES

CULTURE, FLEXIBILITY, AND GROWTH MAJOR FACTORS IN MOTIVATING GEN Z AGENTS What do Gen Z employees and prospects want? Here’s a hint: providing a competitive salary and benefits are good, but just the start. Culture, flexibility, and job growth are some of the most important factors, according to Winning@Work, a new report from The PIA Partnership and the PIA Young Agents Committee.

The insurance sector is facing a talent shortage, and it’s critical for agencies to understand what younger workers, especially Gen Z (those born between 1997 and 2012), want in their jobs.

This report identifies five key areas that are important to Gen Z employees:

CULTURE: They want the organization to

have a clear mission, vision and values, ability to perform fulfilling work, and opportunities to give back.

FLEXIBILITY: The choice for remote work is

only part of it. Job responsibilities, dress codes, office culture, and goals also contribute to whether or not an agency is flexible.

MENTORS: Mentors are no longer always

represented by career-long relationships.

Many Gen Zs turn to mentors of the moment, connections who are in the right place at the right time to provide relevant and timely advice.

TECHNOLOGY: Videoconferencing,

collaboration tools and tracking software are solutions that can help advance agency culture, improve professional development, and increase flexibility.

For the full Winning@Work report: www.pianational.org/winningatwork

GROWTH: Gen Z employees want to work for a business that help them learn, develop, and advance in their careers.

April 2025 | Main Street Industry News | www.pianeia.com | 11

TOP STORIES

EMPLOYEES & CHRONIC CONDITIONS: A HIDDEN WORKPLACE PROBLEM A new study from the Harvard T.H. Chan School of Public Health and the de Beaumont Foundation says chronic conditions that employers are unaware of are harming productivity, job satisfaction and employee well-being.

“Though businesses may be generally aware that this issue affects their workforce, the day-to-day impacts on workers and their jobs are often hidden, obscuring the true need for support,” the report concludes.

The two groups took data from the U.S. Employee Perspectives on Managing Chronic Conditions in the Workplace survey to come to their conclusions.

April 2025 | Main Street Industry News | www.pianeia.com | 12

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Key Findings Reveal the Hidden Workplace Struggles of Employees with Chronic Conditions • A staggering 58% of employees in the U.S. say they have a physical condition that is chronic • Of that number, 60% haven’t told their employer about the issue • 75% of employees with chronic conditions need to manage those conditions at work • 33% with chronic health conditions will skip a medical appointment, or delay getting care, to keep it from interfering with work • 33% have missed opportunities for more hours or different projects because of their chronic condition • 33% of employees say they have to help family members with chronic conditions • 49% don’t think they can take time off work to treat a chronic condition • 49% don’t think they can even take a work break because of a chronic condition Most say their employers are somewhat supportive but a few say they are not very supportive of steps that can be taken to help manage a chronic health condition.

• 44% say their employer is willing to give them paid leave to take care of a chronic condition • 37% say their employer is flexible when it comes to scheduling • 27% are open to remote work to take care of a chronic condition The report said the findings show there are “widespread and frequently hidden challenges” in today’s workplace.

“Further, many employees are also managing their family members’ conditions. There is a major opportunity for the business community to play a greater role in supporting employees with chronic conditions, improving their wellbeing and performance, while reducing costly problems like absenteeism and turnover,” the report concluded.

But will more employers lean that direction when chronic conditions are revealed?

“Creating work policies and practices that recognize caregiver responsibilities, reduce stigma through better employee support and improve workplace culture so employees are safe disclosing their conditions if needed may help create a healthier and more productive workforce,” the report added.

Source: PropertyCasualty360.com

• Only 4% say their employer fully supports breaks for chronic conditions.

April 2025 | Main Street Industry News | www.pianeia.com | 13

TOP STORIES

WILDFIRE: $2 TRILLION US HOMES AT RISK ZestiAI did some research on homes in the U.S. with wildfire exposure. The property risk assessing company used artificial intelligence to show that many millions of homes are at risk for wildfire damage and destruction.

Today there is $2.15 trillion of exposure in the U.S. involving 126 million properties. ZestiAI CEO Attila Toth said of the 126 million, 4.3 million are private homes.

“Wildfires are threatening more properties than ever before, with billions of dollars in exposure even in areas many people don’t associate with fire risk,” he said.

To come to its conclusions, ZestiAi used AI models and explored over 2,000 wildfires from the last couple of decades and mapped exposure. To do that, it integrated satellite and aerial images with topography and the characteristics of various structures.

What was most apparent is the number of homes now butting up against the wildlifeurban interface To no one’s surprise, the state of California has the most exposure to potential wildfire damage and has over 1.54 million homes and $1.21 trillion in total exposure. The Golden State is

April 2025 | Main Street Industry News | www.pianeia.com | 14

TOP STORIES

followed by Colorado, Texas, Utah and Arizona.

Toth said a lot of areas ZestiAI found are not historically prone to wildfires and the homeowners in those areas may not be aware of the risk. Because of that, they may be underinsured.

He noted that one in eight homes in the areas he spoke about lack the right insurance coverage. Toth pointed to insurance companies and said they need to be more proactive in urging homeowners to get the right coverage.

“Insurers have traditionally relied on broad, regional models that don’t account for individual property characteristics,” Toth said.

“That means some homeowners are denied coverage even when their true risk is much lower than their neighbors’.”

Toth says the ZestiAI report has data that is more accurate and efficient which means property owners and insurers can do better assessments of wildfire risk. This technology can help insurers make better underwriting decisions while still keeping high exposure areas covered.

TEXAS

At risk properties: 344,454 Median home value: $297,000 Total exposure: $102 billion

UTAH

At risk properties: 182,426 Median home value: $615,000 Total exposure: $112 billion

ARIZONA

At risk properties: 225,918 Median home value: $432,000 Total exposure: $98 billion

MONTANA

At risk properties: 99,572 Median home value: $485,000 Total exposure: $48 billion

WASHINGTON

At risk properties: 151,231 Median home value: $592,000 Total exposure: $89 billion

FLORIDA

10 MOST AT RISK STATES

At risk properties: 170,764 Median home value: $400,000 Total exposure: $68 billion

CALIFORNIA

OKLAHOMA

At risk properties: 1,544,015 Median home value: $785,000 Total exposure: $1.21 trillion

COLORADO

At risk properties: 317,425 Median home value: $621,000 Total exposure: $197 billion

At risk properties: 102,877 Median home value: $200,000 Total exposure: $21 billion

WYOMING

At risk properties: 31,177 Median home value: $335,000 Total exposure: $10.4 billion Source: Insurance Journal

April 2025 | Main Street Industry News | www.pianeia.com | 15

TOP STORIES

FLOOD INSURANCE A GROWING, BUT UNNOTICED, NEED

"Sadly, this means many homeowners are putting themselves at significant financial risk from future flood damages — especially when just one inch of flood water can cause $25,000 in damage,” Sangameshwar added.

Flooding is becoming an increasing issue in the U.S. and too many people don’t know it.

More from the report:

ValuePenguin finds flooding to be the most common, and most expensive natural disaster.

Sadly, 96.7% of homes in the U.S. do not have flood insurance. The company’s home insurance expert Divya Sangameshwar said in 2024, the average cost per home after a flood issue was about $34,000.

"Climate change continues to drive sea-level increases and make weather more extreme," Sangameshwar said. "As a result, flood-prone areas around the country are expected to grow by nearly half in just this century. Two years of back-to-back decreases in active flood insurance policies indicates that many homeowners aren’t fully aware of the growing risks of flooding.”

And unless a home is in a special flood hazard area, it is not required to have flood insurance.

• Only 3.3% of homes in the U.S. — 4.7 million — are covered by flood insurance • In 26 states that number is 1%

• 2024 saw declines in flood insurance coverage in 36 states

• The average claim in 2024 cost $33,906

• In 2024 just over 30% of the flood losses were from claims that were not in FEMA’s flood hazard areas (SFHA) Flooding is no longer limited to coastal or lowlying areas, Sangameshwar said.

"Even if flood insurance is only required for a small subsection of homeowners, low flood risk doesn’t mean zero flood risk,” she said. “And homeowners insurance and renters insurance don’t cover flooding.”

Source: PropertyCasualty360.com and Insurance Business America

April 2025 | Main Street Industry News | www.pianeia.com | 16

TOP STORIES

NOT SO SAFECO Liberty Mutual to Drop the Brand

Liberty Mutual purchased Safeco in 2008.

It has been the insurer’s independent agent outlet for the sales of home, auto and specialty insurance.

Luke Bills is Liberty Mutual’s president of independent agent distribution said the company is going to retire the Safeco name in 2026. He says nothing will change for the independent insurance agent and agencies.

“The Safeco legacy is one of strength, partnership and an unwavering commitment to independent agents,” Bills said. “We will carry that legacy forward and will bring our agents even greater value with this brand change.”

Taking its place will be Liberty Mutual’s personal and specialty lines, the ones pushed

by Doug and Limu the Emu. Policyholders will not be impacted and Bills said they will be able to keep the relationship with their independent agent.

Tyler Asher heads Liberty Mutual’s distribution and marketing. He said the transition away from Safeco will “fully harness the Liberty Mutual brand value for all of our customers, agents and partners, across all distribution channels.”

Asher said there will be no distribution changes for consumers or agents.

“Importantly, this will significantly simplify our business, allow us to dedicate our considerable marketing power behind a single brand, and enable us to leverage and scale our technology to deliver unified but differentiated products and experiences across channels,” Asher continued.

The 22,000 independent agents Safeco used helped the company’s income to grow to $13 billion in annual premiums. Adding to Safeco’s success is Liberty Mutual stepping in once in awhile to purchase the books of business from other insurers and pushing them to Safeco.

The purchase of Main Street America in 2024 saw that book of personal auto and umbrella lines sent to Safeco.

Source: Insurance Journal

April 2025 | Main Street Industry News | www.pianeia.com | 17

PIA NE IA EVENTS

Events Calendar 2025

For information and to register click here or call (402) 392-1611.

Date

Class/Webinar

Where

When

April 1, 2025

CISR: Commercial Casualty 1

All States

Live Webinar: 8:30 - 4:15 PM

April 1, 2025

Bad Machines, Evil People: The Latest in Cyber

NE/IA

Live Webinar: 8 - 11 AM

April 1, 2025

Ethics, Diligence, Success: What Agencies Need to Know

NE/IA

Live Webinar: 12 - 3 PM

April 3, 2025

Eroding: The Personal Lines Implosion and What Happens Next

NE/IA

Live Webinar: 8 - 10 AM

April 3, 2025

An Hour with Nicole: Making Sense of Homeowners Deductibles (Once and For All!)

NE/IA

Live Webinar: 1 - 2 PM

April 8, 2025

CPIA 3: Sustain Success

All States

Live Webinar: 8:30 - 4:15 PM

April 8, 2025

Stinkin Rich, Insurance Poor: P&C Coverage Challenges for High-Net-Worth Individuals

NE/IA

Live Webinar: 12 - 3 PM

April 15-16, 2025

CIC Live Webinar: Agency Management Institute

All States

Live Webinar: 8 - 5 PM

April 15, 2025

Why Are You Here?! Insurance Issues with the People and Stuff in Your House

NE/IA

Live Webinar: 8 - 10 AM

April 15, 2025

Flood Insurance: What You Need to Know

NE/IA

Live Webinar: 12 - 3 PM

April 22, 2025

CISR: Agency Operations

All States

Live Webinar: 8:30 - 4:15 PM

April 22, 2025

Commercial Property: Claims, Coverages, Consequences

NE/IA

Live Webinar: 12 - 3 PM

April 24, 2025

Social Security and Medicare: Your Questions Answered

NE/IA

Live Webinar: 12 - 3 PM

May 6, 2025

CISR: Other Personal Lines Solutions

All States

Live Webinar: 8:30 - 4:15 PM

May 6, 2025

Certificates, Contractors, and You: Fights, Coverage Issues, Best Practices

NE/IA

Live Webinar: 8 - 11 AM

May 6, 2025

Ethics in Insurance - Protecting the Client and the Agency

NE/IA

Live Webinar: 12 - 3 PM

May 8, 2025

The Fine Print: Understanding the Contractual Obligations of Your Insured

NE/IA

Live Webinar: 12 - 3 PM

May 13, 2025

Big Rig, Big Risk: Mastering Trucking Accounts

NE/IA

Live Webinar: 8 - 11 AM

April 2025 | Main Street Industry News | www.pianeia.com | 18

PIA NE IA EVENTS

May 13, 2025

Liar!: An Agent's Role in Identifying & Handling Fraud

NE/IA

Live Webinar: 12 - 3 PM

May 15, 2025

Just Use Mine: Home, Vehicle and Other Sharing Exposures Insurance Doesn’t Like

NE/IA

Live Webinar: 12 - 3 PM

May 21, 2025

Reasons Personal Lines are Broken (and What to Do About It) NE/IA

Live Webinar: 12 - 3 PM

May 22, 2025

Homeowners Endorsements Insureds Don't Want (But Do Need) NE/IA

Live Webinar: 8 - 11 AM

May 22, 2025

An Hour with Nicole: Personal Lines: Read the %^&* Form!

NE/IA

Live Webinar: 1 - 2 PM

May 29-30, 2025

Ruble Graduate Seminar

All States

Des Moines, IA

June 4-5, 2025

CIC: Commercial Property Institute

All States

Omaha, NE

June 4-5, 2025

CIC: Commercial Property Institute

All States

Live Webinar: 8 - 5 PM

June 10, 2025

CISR: Elements of Risk Management

All States

Live Webinar: 8:30 - 4:15 PM

June 10, 2025

Definition of Insanity: Common Home and Auto Exposures We Know Are There & Do Nothing About

NE/IA

Live Webinar: 8 - 11 AM

June 10, 2025

Stinkin Rich, Insurance Poor: P&C Coverage Challenges for High-Net-Worth Individuals

NE/IA

Live Webinar: 12 - 3 PM

June 12, 2025

Eroding: The Personal Lines Implosion and What Happens Next

NE/IA

Live Webinar: 8 - 10 AM

June 12, 2025

CGL Endorsements That Will Break Your Policy

NE/IA

Live Webinar: 12 - 3 PM

June 17, 2025

Why Inadequate EPLI Will Close Your Business (and What to Do About It)

NE/IA

Live Webinar: 8 - 11 AM

June 17, 2025

An Hour with Cathy: Understanding (Finally!) How Claims Made Policies Work

NE/IA

Live Webinar: 1 - 2 PM

June 19, 2025

Commercial Property: Claims, Coverages, Consequences

NE/IA

Live Webinar: 12 - 3 PM

June 24, 2025

Social Security and Medicare: Your Questions Answered

NE/IA

Live Webinar: 12 - 3 PM

June 25, 2025

An Hour with Dave: Rental Cars: Issues, Answers, Horror Stories

NE/IA

Live Webinar: 1 - 2 PM

June 26, 2025

Name That Endorsement: Business Auto and Commercial Property Edition

NE/IA

Live Webinar: 8 - 10 AM

June 26, 2025

Ethics, Diligence, Success: What Agencies Need to Know

NE/IA

Live Webinar: 12 - 3 PM

July 22-23, 2025

CIC: Personal Lines Institute

All States

Live Webinar: 8 - 5 PM

April 2025 | Main Street Industry News | www.pianeia.com | 19

PIA NE IA EVENTS

July 8, 2025

CISR: Commercial Casualty 2

All States

Live Webinar: 8:30 - 4:15 PM

July 16, 2025

CISR: Insuring Commercial Property

All States

Live Webinar: 8:30 - 4:15 PM

August 5-6, 2025

CIC Life & Health Institute

All States

Live Webinar: 8 - 5 PM

August 25, 2025

CISR: William T. Hold Seminar

All States

Live Webinar: 8:30 - 4:15 PM

August 28, 2025

CPIA: Loss Control for All Agencies

All States

Live Webinar: 8:30 - 4:15 PM

September 3, 2025

CPIA 1: Position for Success

All States

Live Webinar: 8:30 - 4:15 PM

September 9, 2025

CISR: Agency Operations

All States

Live Webinar: 8:30 - 4:15 PM

September 11-12, 2025

CIC: Commercial Property Institute

All States

Des Moines, IA

September 11-12, 2025

CIC: Commercial Property Institute

All States

Live Webinar: 8 - 5 PM

October 7, 2025

CISR: Life & Health Essentials

All States

Live Webinar: 8:30 - 4:15 PM

October 9, 2025

CPIA 2: Implement for Success

All States

Live Webinar: 8:30 - 4:15 PM

October 21-22, 2025

CIC: Commercial Multiline Institute

All States

Omaha, NE

October 21-22, 2025

CIC: Commercial Multiline Institute

All States

Live Webinar: 8 - 5 PM

October 28, 2025

CISR: Commercial Casualty 1

All States

Live Webinar: 8:30 - 4:15 PM

November 4, 2025

CPIA 3: Sustain Success

All States

Live Webinar: 8:30 - 4:15 PM

November 11, 2025

CISR: Insuring Personal Residential Property

All States

Live Webinar: 8:30 - 4:15 PM

November 18-19, 2025

CIC: Commercial Casualty Institute

All States

Des Moines, IA

November 18-19, 2025

CIC: Commercial Casualty Institute

All States

Live Webinar: 8 - 5 PM

December 2-3, 2025

Ruble Graduate Seminar

All States

Live Webinar: 8 - 5 PM

December 9, 2025

CISR: Other Personal Lines Solutions

All States

Live Webinar: 8:30 - 4:15 PM

April 2025 | Main Street Industry News | www.pianeia.com | 20

We are well on our way to building a leading small commercial insurance solution to better serve our agents and brokers and small business customers.

Much is in store for 2025!

www.guard.com

April 2025 | Main Street Industry News | www.pianeia.com | 22

April 2025 | Main Street Industry News | www.pianeia.com | 23

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WONDER WHAT CONSUMERS WONDER ABOUT INSURANCE? A GOOGLE SURVEY REVEALS ALL

Google gets lots of questions about lots of different subjects. One of them is insurance.

PropertyCasualty360.com released some information it found on the questions people are asking Google about insurance.

The results are interesting in places and stupefying in others. Here are some of them:

How much is car insurance?

PC360 noted of course, there's no way to answer that one. However, Google did say on average we pay $2,670 per year for full coverage.

When does open enrollment for health insurance happen?

It's typically from November 1 to December 15th.

What is gap insurance?

Everly Life insurance expert, Meredith Bell told PC360 it's a pretty straight forward answer.

If your auto — for example — isn't worth what you have left to pay for it, you get gap insurance to cover that span.

How much is health insurance?

Google notes price comes down to several factors: age, location, the level of coverage and employer-provided options. Costs vary.

What is life insurance?

Yes, we, too, find it hard to believe it’s that confusing.

Source: PropertyCasualty360.com

April 2025 | Main Street Industry News | www.pianeia.com | 24

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SPECIAL REPORT

RANSOMWARE & SCAMS IN 2024 Travelers Insurance said the fourth quarter of 2024 saw at least 1,663 ransomware attacks.

That’s up 32% from the 3rd quarter. For 2024 overall, ransomware attacks rose 15% over 2023 with a reported 5,243 attacks. In 2023 there were 4,548 of them.

Comparitech reported a 2024 average ransom demand of $3.5 million.

Travelers’ vice president and cyber risk officer, Jason Rebholz said criminals used to be more opportunistic. These days they’re actually targeting private networks with weak credentials, IT services and consulting companies that serve clients across many industries. This makes the attacks much more effective.

Government is also a big target along with hospitals, healthcare organizations and the construction industry. “These groups have been on the offensive, proactively hunting for targets and having significant success,” Rebholz said.

He also noted there were many new ransomware groups active in 2024. The year saw 55 new groups and a 67% increase over 2023.

“It’s vital that businesses implement proven security controls, such as MFA (multi-factor authentication), to make it far more challenging for malicious actors to carry out an attack on their organization,” Rebholz said.

When it comes to fraud, consumers lost $12.5 billion in 2024. That statistic is courtesy of the Federal Trade Commission (FTC). The dollar amount lost came is a 25% increase over 2023 though the number of fraud reports remained about the same at 2.6 million.

In 2024, 38% lost money to scams, up from 27% in 2023, with investment scams the most common.The amount of money lost to those scams hit $5.7 billion, a 24% increase.

In second place is imposter scams. They cost consumers $2.95 billion.

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Most consumers got the cash for these investments from bank transfers or cryptocurrency.

California had the highest overall total losses.

That figure is $2.16 billion, or $55.53 per capita.

Kentucky had the lowest financial losses at $10.74 per capita.

A lot of fraud is done online. The IT and cyber security firm, Next Perimeter looked at data from the Internet Crime Complaint Center. It said the states ranking 1, 2, and 3, Nevada, California, and New Jersey, were hit hardest last year, followed by the states of Alaska, Arizona, Montana, South Dakota, New York, Utah, and Florida.

“Digital fraud patterns tell us something important about cybersecurity in America today,” Moore said. “Areas with higher levels of digital transactions and technological integration face greater risks from online fraud. This points to a key challenge — the same digital infrastructure that drives economic growth can create opportunities for cybercriminals.”

Next Perimeter chief information officer, Michael Moore said the highest losses per capita are from Nevada at $62.60 per person.

Sources: PropertyCasualty360.com, Insurance Journal and PropertyCasualty360.com

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