Hurricane Isaias:
If you were impacted by the storm, here's
key recovery considerations for the days and weeks ahead
This article summarizes key findings from the whitepaper "2025 commercial insurance trends and how to navigate them." For comprehensive insights and actionable tips, click here to download the full whitepaper.
The insurance industry has seen a number of changes with increased rates, increased deductibles or even insurability over the past year. This isn’t because insurance companies are taking more than their fair share—it’s because risk levels have gotten substantially higher.
As we begin 2025, it’s important to have a perspective on some of the trends that have caused insurance rates to change so much. Here’s a closer look:
Weather disasters—including hurricanes, wildfires, tornadoes and floods—are currently exceeding expected probability models. This means insurance companies are having to pay much more in claims than they were anticipating, which leads to higher premiums.
While you can’t change the weather, you can prepare for it:
Social inflation is a term that refers to how insurance companies’ claims are increasing above general economic inflation. This occurs when plaintiffs seek—and receive—large amounts for their injuries in lawsuits, sometimes referred to as “nuclear verdicts.”
As an organization, you should adopt risk management strategies that mitigate the financial impact of potential lawsuits. You should:
There has been a 19% average increase in building supply costs since 2020, which has led to both increases in overall building costs and in insurance premiums. In particular, prices for materials like steel, concrete and lumber have remained significantly higher than pre-pandemic levels.
To navigate these challenges, you will need to:
If your organization is among the many with an aging building, you know just how frustrating it is when something always seems to be breaking. In particular, many houses of worship are requiring costly updates to remain insurable—80% of religious congregations need maintenance upgrades.
To stay on top of your facility’s needs, you can:
Since the COVID-19 pandemic and shutdown, the public has been clamoring for more online offerings—and organizations are providing them. However, having an online presence puts you more at risk for cybercrime. The projected cost of global cybercrime is expected to reach $12 trillion by 2025.
To safeguard your organization and people’s data, you should:
Perhaps most importantly, you can work closely with your insurance company to identify specific, actionable ways to lower your risk and potentially decrease your costs. For more information about how Church Mutual can help you manage risk, visit churchmutual.com/resources.
For a deeper dive into the analysis and strategies presented in this article, click here to download the full whitepaper “2025 commercial insurance trends and how to navigate them.”
This article summarizes key findings from the whitepaper "2025 commercial insurance trends and how to navigate them." For comprehensive insights and actionable tips, click here to download the full whitepaper.
The insurance industry has seen a number of changes with increased rates, increased deductibles or even insurability over the past year. This isn’t because insurance companies are taking more than their fair share—it’s because risk levels have gotten substantially higher.
As we begin 2025, it’s important to have a perspective on some of the trends that have caused insurance rates to change so much. Here’s a closer look:
Weather disasters—including hurricanes, wildfires, tornadoes and floods—are currently exceeding expected probability models. This means insurance companies are having to pay much more in claims than they were anticipating, which leads to higher premiums.
While you can’t change the weather, you can prepare for it:
Social inflation is a term that refers to how insurance companies’ claims are increasing above general economic inflation. This occurs when plaintiffs seek—and receive—large amounts for their injuries in lawsuits, sometimes referred to as “nuclear verdicts.”
As an organization, you should adopt risk management strategies that mitigate the financial impact of potential lawsuits. You should:
There has been a 19% average increase in building supply costs since 2020, which has led to both increases in overall building costs and in insurance premiums. In particular, prices for materials like steel, concrete and lumber have remained significantly higher than pre-pandemic levels.
To navigate these challenges, you will need to:
If your organization is among the many with an aging building, you know just how frustrating it is when something always seems to be breaking. In particular, many houses of worship are requiring costly updates to remain insurable—80% of religious congregations need maintenance upgrades.
To stay on top of your facility’s needs, you can:
Since the COVID-19 pandemic and shutdown, the public has been clamoring for more online offerings—and organizations are providing them. However, having an online presence puts you more at risk for cybercrime. The projected cost of global cybercrime is expected to reach $12 trillion by 2025.
To safeguard your organization and people’s data, you should:
Perhaps most importantly, you can work closely with your insurance company to identify specific, actionable ways to lower your risk and potentially decrease your costs. For more information about how Church Mutual can help you manage risk, visit churchmutual.com/resources.
For a deeper dive into the analysis and strategies presented in this article, click here to download the full whitepaper “2025 commercial insurance trends and how to navigate them.”
This article summarizes key findings from the whitepaper "2025 commercial insurance trends and how to navigate them." For comprehensive insights and actionable tips, click here to download the full whitepaper.
The insurance industry has seen a number of changes with increased rates, increased deductibles or even insurability over the past year. This isn’t because insurance companies are taking more than their fair share—it’s because risk levels have gotten substantially higher.
As we begin 2025, it’s important to have a perspective on some of the trends that have caused insurance rates to change so much. Here’s a closer look:
Weather disasters—including hurricanes, wildfires, tornadoes and floods—are currently exceeding expected probability models. This means insurance companies are having to pay much more in claims than they were anticipating, which leads to higher premiums.
While you can’t change the weather, you can prepare for it:
Social inflation is a term that refers to how insurance companies’ claims are increasing above general economic inflation. This occurs when plaintiffs seek—and receive—large amounts for their injuries in lawsuits, sometimes referred to as “nuclear verdicts.”
As an organization, you should adopt risk management strategies that mitigate the financial impact of potential lawsuits. You should:
There has been a 19% average increase in building supply costs since 2020, which has led to both increases in overall building costs and in insurance premiums. In particular, prices for materials like steel, concrete and lumber have remained significantly higher than pre-pandemic levels.
To navigate these challenges, you will need to:
If your organization is among the many with an aging building, you know just how frustrating it is when something always seems to be breaking. In particular, many houses of worship are requiring costly updates to remain insurable—80% of religious congregations need maintenance upgrades.
To stay on top of your facility’s needs, you can:
Since the COVID-19 pandemic and shutdown, the public has been clamoring for more online offerings—and organizations are providing them. However, having an online presence puts you more at risk for cybercrime. The projected cost of global cybercrime is expected to reach $12 trillion by 2025.
To safeguard your organization and people’s data, you should:
Perhaps most importantly, you can work closely with your insurance company to identify specific, actionable ways to lower your risk and potentially decrease your costs. For more information about how Church Mutual can help you manage risk, visit churchmutual.com/resources.
For a deeper dive into the analysis and strategies presented in this article, click here to download the full whitepaper “2025 commercial insurance trends and how to navigate them.”
