Following years of challenging market conditions and intense underwriting scrutiny, most employment practices liability (EPL) insurance buyers with a good claims history experienced modest premium increases in 2024. Experts cautiously predict that these trends will persist in 2025. However, several factors could contribute to market volatility. For instance, the increasing adoption of artificial intelligence (AI)…
As we step into 2025, small employers in New Jersey and Pennsylvania face unique challenges and opportunities in the ever-evolving HR landscape. Key trends include adapting to new labor laws, enhancing employee wellness programs, leveraging technology for recruitment and retention, and addressing the growing demand for remote or hybrid work options. These shifts are driven…
Employers will likely continue to face challenges in attracting and retaining skilled employees this year. In fact, an EY report revealed that a staggering 38% of employees are expected to leave their jobs in 2025. Despite the looming threat of employee turnover in 2025, there was a consistent decline in employee quits throughout 2024. This…
Employee benefits are undergoing a transformative shift, and employers can seize this opportunity to differentiate themselves as top employers. The modern workforce comprises diverse generations with evolving expectations regarding work-life balance, mental health, and personalized benefits. In this dynamic environment, understanding and implementing the latest trends in employee benefits can set an organization apart. …
The 2025 Employment Law Outlook delves into pivotal employment law trends and topics to provide valuable insights and forecast potential challenges employers may encounter in the coming year. By gaining a forward-looking perspective, employers can enhance their preparedness and ensure sustained success amidst an increasingly complex regulatory landscape. Understanding the key compliance trends from 2024,…
Over the past few years, the commercial insurance sector has been grappling with persistent challenges. Rising claim frequency and severity, coupled with social inflation, evolving cyber risks, and continued losses from catastrophic natural disasters, have created a prolonged hard market. In response, carriers have responded by tightening underwriting standards, reducing capacity, and increasing premiums across…
Moving into 2025, the commercial property insurance market appears to be stabilizing, and most renewals with favorable loss histories will see single-digit rate increases (non-catastrophe (CAT) exposed assets with good loss histories can expect flat to 10% rate increases). While some complex risk profiles are still difficult to place and challenges remain in high-risk areas…
With the ever-evolving landscape of cyber threats, the cyber insurance market can be particularly volatile and dynamic. Frequent market changes make it challenging to predict pricing accurately. The CrowdStrike and Change Healthcare incidents underscored the significant impact of a single cyberattack on multiple organizations and business sectors. Considering the potential consequences of systemic events like…
In 2024, employers across all sizes and industries encountered several trends influencing the employee benefits market. Rising healthcare costs, a competitive labor market, and regulatory concerns shaped how employers managed operational challenges. Several of these concerns, such as healthcare costs and labor market pressures, are expected to persist into the new year. Furthermore, emerging…