In a move aimed at refining business strategies, Safeco Insurance, a Liberty Mutual company, will take over Columbia Insurance Group's personal lines business across eight states beginning January 1, 2025. Columbia, a regional carrier primarily serving the Central and Midwest U.S., will focus exclusively on its commercial lines, while Safeco will extend its personal insurance coverage in Arkansas, Illinois, Iowa, Kansas, Missouri, Nebraska, Oklahoma, and South Dakota. The agreement provides a clear path for both companies to deepen their expertise and deliver more specialized service to their customers. Known for its commitment to independent agents, the company sees this as a significant opportunity to grow its regional presence. “We are excited to strengthen our partnerships with independent agents and welcome Columbia’s agents and customers to Safeco,” said Luke Bills, President of Independent Agent Distribution, Liberty Mutual Insurance. “This agreement aligns with our mission to empower the independent agency channel, and we look forward to expanding our business across these regions.” For Columbia, the decision to exit personal lines insurance was not made lightly. However, the company remains committed to ensuring a smooth transition for both agents and policyholders as it sharpens its focus on commercial insurance solutions. “While the decision to exit personal lines was difficult, we are confident that this agreement with Safeco will provide a smooth transition for our agents and customers,” said Keith Maciejewski, Chief Underwriting Officer at Columbia Insurance Group. “We’re focused on delivering top-tier service to our commercial clients and look forward to this next chapter.” Safeco has a proven track record of successfully handling similar book transfers. The company’s established process ensures minimal disruption for agents and customers during the transition. Many of Columbia’s agents already have appointments with Safeco, and those who do not will have the opportunity to apply for appointments to continue serving their clients. This strategic partnership marks a key moment for both companies, allowing each to grow and better serve their target markets. Safeco’s expansion in personal lines across the region will offer agents and customers continued high-quality service, while Columbia strengthens its position in the commercial insurance space. About Safeco Insurance In business since 1923, Safeco Insurance sells personal automobile, homeowners and specialty products through a network of more than 10,000 independent insurance agencies throughout the United States. Safeco is a Liberty Mutual Insurance company, based in Boston, Mass. For more information about Safeco Insurance, go to www.safeco.com.

Insurance professionals across North Carolina are closely watching the negotiations between state regulators and insurance companies over proposed increases in homeowner insurance premiums, particularly for coastal regions. A judicial hearing scheduled for October 7 could set the stage for significant changes in the insurance landscape. Here’s a breakdown of where things stand and what insurance agents need to know.

Coastal Homeowners Face Massive Rate Hikes

The N.C. Rate Bureau, representing insurance companies, submitted a proposal earlier this year to raise homeowner insurance premiums by 42% statewide and an astounding 99% in coastal areas around Wilmington. This increase, if approved, would dramatically affect insurance rates for homeowners, particularly in beach communities already vulnerable to extreme weather events. N.C. Insurance Commissioner Mike Causey swiftly rejected the proposal after a public hearing, citing overwhelming opposition from residents and stakeholders. Causey’s decision to block the rate hike has led to an upcoming judicial hearing, which could determine the future of homeowner insurance premiums in North Carolina.

The Rationale Behind the Proposed Increase

Insurance companies argue that the proposed increase is necessary due to several factors, including inflation, rising labor and material costs, and the increasing severity of natural disasters, particularly hurricanes. The cost of reinsurance—insurance for insurance companies—has also risen, putting additional financial strain on insurers operating in high-risk areas. North Carolina’s history of devastating hurricanes, such as 2018’s Hurricane Florence, continues to impact the insurance market. Industry representatives point out that claims from these events are still being processed, with the financial burden continuing to grow.

Regulatory Hurdles in a Controlled Market

North Carolina operates a regulated insurance market, meaning that companies must obtain approval from state regulators before raising rates. This system is designed to protect consumers while allowing insurers to remain profitable. However, it has also led to challenges for insurers, especially in the face of mounting claims and increasing operational costs. While the regulated market has shielded North Carolina from the insurance crisis seen in other coastal states like Florida and Louisiana, where insurers have pulled out due to rising risks, the industry contends that the current system limits their ability to remain competitive and financially solvent.

The Impending Hearing: What’s at Stake?

As the October 7 hearing approaches, both the state and the insurance industry are preparing for what could be a lengthy and costly legal battle. Insurance Commissioner Causey has expressed hope for a negotiated settlement, which has been the outcome in many previous rate disputes. However, this time, negotiations have stalled, and both sides are heading to court. State law mandates that a ruling be issued within 45 days after the hearing. If the court sides with the insurance commissioner, the rate hike could be blocked or reduced. However, the insurance industry has the option to appeal, potentially extending the dispute and delaying any final decisions.

Future Implications for Coastal Insurance

Regardless of the outcome of the hearing, the financial challenges facing coastal homeowners and insurance providers are unlikely to disappear. As natural disasters become more frequent and severe, insurance companies will continue to seek rate increases to cover their growing liabilities. For insurance agents and brokers working with coastal clients, it’s essential to stay informed about the evolving regulatory environment and the potential impact on premiums. As the market adjusts to the realities of climate change and rising costs, agents will play a crucial role in helping homeowners navigate these changes and secure the coverage they need. The October 7 hearing represents a critical moment for the future of coastal insurance in North Carolina, but it’s only one chapter in an ongoing story of rising risks and evolving market dynamics.

A dockworkers' strike that began on October 1, 2024, across East and Gulf Coast ports threatens to disrupt supply chains nationwide. The strike, led by the International Longshoremen’s Association (ILA), stems from disagreements over wages and the automation of dockwork machinery. With construction and manufacturing sectors poised to face significant delays, the insurance industry is bracing for potential ripple effects.

Supply Chain Disruptions and Coverage Implications

The strike affects major ports from Texas to Maine, which are critical entry points for construction materials, heavy machinery, food, and chemicals. This could lead to material shortages, price hikes, and delivery delays—factors that could trigger claims under business interruption and contingent business interruption (CBI) policies. For industries reliant on just-in-time inventory, these delays could disrupt operations, leading to losses that businesses may seek to recover through their insurance policies. As ships back up and distribution to warehouses slows, contractors are already predicting that delays could extend into 2025 if the strike persists for more than a week. This timeline could worsen if insurers are inundated with claims from affected industries.

Rising Costs and Inflationary Pressures

Bill Flemming, senior VP at Cumming Group, and Ken Simonson, chief economist for the Associated General Contractors of America, warn that prolonged strikes could exacerbate shortages in structural steel and equipment, driving up costs. This potential inflation in construction and manufacturing sectors may translate to increased premiums for insured businesses, as insurers reassess the risks associated with supply chain volatility. In addition, price hikes for materials could lead to higher payouts for insurers covering projects that are already underway, as the cost of replacing or sourcing delayed materials escalates.

Contingent Business Interruption: A Crucial Safety Net

CBI coverage could become a key factor in mitigating losses for affected companies. CBI protects businesses from losses resulting from disruptions in their supply chain, particularly when suppliers are unable to deliver due to unforeseen events. For companies that depend on materials moving through the impacted ports, this coverage could help cover lost profits or extra expenses incurred due to delays. However, insurers will need to closely examine the scope of CBI policies to determine how well they apply in this situation. Since the strike stems from a labor dispute, some policies may exclude coverage if labor actions are not explicitly covered under the insured's CBI plan. Businesses and their insurance agents should review the fine print of policies to understand potential gaps.

Potential Long-Term Impacts

If the strike extends beyond a few weeks, recovery could stretch well into 2025, according to supply chain experts. Such a scenario may also lead to insurers reconsidering risk assessments for companies that heavily rely on global supply chains. Underwriters may adjust premiums or recommend new risk management strategies to account for the ongoing threat of labor strikes and supply chain disruptions. In the event of prolonged labor disputes or recurring strikes, the insurance industry may see an uptick in demand for specialized strike insurance or broader business interruption policies to protect businesses from future disruptions. Companies that fail to adequately plan for these risks may face heightened financial vulnerability.

Preparing for the Future

As industries await resolution, businesses should proactively assess their current insurance coverage and potential exposures. Reviewing business interruption policies, exploring extensions for CBI coverage, and working with insurers to adjust limits or add endorsements could help companies better manage the financial fallout from prolonged supply chain issues. For insurers, this strike serves as a reminder to reevaluate policy offerings and claims protocols related to labor disputes and supply chain risks. Staying ahead of these challenges will be crucial as the industry navigates the evolving landscape of global trade and transportation.

 vQuip, a premier provider of specialty insurance programs and risk management solutions for complex, bespoke experience markets is proud to announce the launch of AdventureShield, an innovative, first-of-its-kind risk management solution designed specifically for the high-risk adventure rental sector. AdventureShield offers a comprehensive approach to managing liability for outfitters and ensuring safety for adventure-seekers, transforming the way the recreational rental industry navigates risk.

AdventureShield revolutionizes how outfitters handle complex risks in the adventure and recreational rental space. Outfitted with advanced technology and real-time data analytics, AdventureShield enables businesses to proactively mitigate liability and streamline safety protocols. This cutting-edge platform captures crucial operational data, building a robust defense against negligence claims while offering renters low-limit, trip-specific insurance.

“We've dedicated significant effort to developing AdventureShield, and we're thrilled to bring this innovative solution to outfitters who have long struggled with coverage gaps and risk management shortfalls in the adventure rental market,” said Cam Serigne, Founder and CEO of vQuip. “The brilliance of AdventureShield is its ability to manage risk on a trip-by-trip basis, using cutting-edge risk identification and safety technology that far surpasses traditional practices. By shifting the burden of risks, such as improper use and driver error, away from the outfitter, we're not only lowering costs but also delivering greater financial security to the industry.”

AdventureShield is designed to provide effective relief to outfitters to many of the pain points in the risk management process, particularly those related to risk identification, assessment and financing. By utilizing new premium pools that allow renters to purchase insurance directly on each trip, much of the risk is transferred from the outfitter for that trip. This innovation not only expands the insurance market by providing insurance on a trip-by-trip basis, but also distributes the financial risk more equitably between the outfitter and the renter.

A cornerstone of AdventureShield's effectiveness is its ability to collect the requisite data to protect the business owner against negligence claims. This data is collected in a dynamic tool for risk control that arms outfitters with empirical evidence to assert robust defenses against claims, which may otherwise lead to unjustified liabilities. AdventureShield is available to vQuip’s general liability policyholders and is bundled with the coverage.

ABOUT vQUIP

vQuip is a specialty insurance program architect and risk management pioneer, combining best-in-class loss control technology with innovative program solutions tailored to the unique requirements of complex bespoke experience markets. Headquartered in Charlotte, N.C., vQuip partners with innovative MGAs, fronting partners, reinsurers, and distribution partners to launch solutions that serve the needs of capacity-constrained insurance markets. vQuip's clients use its technology and insurance programs to effectively manage and transfer risk, gaining access to comprehensive and competitive commercial insurance solutions. For more information, visit www.vquip.com

Only a small percentage of holistic business service firms offer dedicated Property & Casualty (P&C) insurance solutions—an oversight Exemplar Companies is addressing with the launch of its new P&C service line, led by industry expert Christine Milone. With this addition, Exemplar strengthens its position as one of the few firms offering a complete range of integrated services. Christine, a recognized leader in P&C, brings extensive expertise in providing insurance strategies for business owners and high-net-worth individuals. Her approach combines innovative risk management with a deep understanding of industries that require specialized coverage, from luxury assets to commercial enterprises. Christine Milone has a proven track record of delivering customized insurance solutions across a wide range of industries, including Real Estate, Non-Profits, Professional Services, Technology, and Private Equity. Her expertise spans both high-net-worth clients and businesses, ensuring comprehensive protection for assets and operations. Her work with clients in sectors such as the Sports Car Series IMSA, a NASCAR affiliate, has positioned her as a leading authority in protecting race teams, businesses, and high-value assets such as sports cars, yachts, airplanes, and collections. Christine’s deep involvement with professional racing teams and her passion for motorsports fuel her ability to protect complex, high-risk ventures and business operations. “Adding Christine to our team advances Exemplar’s mission to provide comprehensive, high-quality services across every aspect of our clients’ businesses,” said Christopher Marston, CEO of Exemplar Companies. “Her expertise in Property & Casualty fills a critical need and enhances our holistic approach to business solutions.”

A Team of Experts

Christine is supported by the skilled Delray Beach team, including Kathleen Brogan, who brings specialized knowledge of yacht and marine insurance. Kathleen’s experience strengthens Exemplar’s ability to deliver customized coverage for high-net-worth clients. Together, Christine, Kathleen, and the team bring a wealth of combined experience to meet the needs of both personal and commercial clients. “I’m excited to be part of Exemplar and bring Property & Casualty insurance to the forefront,” said Christine Milone. “Our focus is on delivering solutions that solve real-world challenges for our clients.”

Strategic Expansion of Exemplar’s Services

Under Christine’s leadership, Exemplar’s new Property & Casualty service line expands the firm’s reach into both personal and commercial insurance. By protecting clients against the risks that matter most, Christine and her team will drive growth in this area and reinforce Exemplar’s position as a trusted partner for forward-thinking businesses and individuals.

Comprehensive Services That Put Clients First

The launch of the Property & Casualty division highlights Exemplar’s commitment to offering integrated services across insurance, tax, law, capital, and wealth management. Exemplar provides straightforward, value-driven solutions without the burden of hourly billing. Christine’s leadership in P&C strengthens this approach, empowering clients to protect and grow their businesses and assets.

Expert Coverage Solutions

In today’s ever-changing risk landscape, having the right Property & Casualty coverage is essential for protecting your personal and business assets. Christine Milone and the team at Exemplar are committed to providing thoughtful, comprehensive solutions that address your challenges. To learn more about how our integrated approach to P&C can help safeguard what matters most, let’s work together to ensure your future is secure.

EPIC Insurance Brokers and Consultants (“EPIC”), a national insurance brokerage and consulting firm, has acquired TDC Life (“TDC”), an Ohio-based life insurance and estate planning firm. This strategic partnership will bring TDC under the Vanbridge Life & Executive Benefits (“Vanbridge”) umbrella and significantly enhance EPIC’s market presence in the life insurance industry. With a legacy dating back to 1958, TDC has a rich history of excellence in life insurance. Under the visionary leadership of Cleves Delp, TDC has set the standard among independent life insurance agencies by embracing sophisticated wealth preservation strategies while demonstrating a never-ending commitment to putting clients first. “Our unwavering focus on client needs and innovative wealth preservation strategies has positioned TDC as a leader in the industry. We are excited to join Vanbridge, a company that shares our legacy of trust and innovation. With our shared vision and commitment to excellence, we will continue to redefine the standards of the life insurance industry,” said Cleves Delp, Founder of TDC. TDC works with a national network of advisors, including investment advisors, attorneys, CPAs, and business managers for athletes and entertainers, to provide best-in-class services for their clients’ complex wealth preservation strategies. TDC’s expertise transcends traditional insurance planning, catering to the unique needs of wealthy individuals, families, and business owners. Waller Helms Advisors acted as exclusive financial advisor to TDC for the acquisition. “Our team is thrilled about the opportunities ahead with Vanbridge and EPIC. Enhancing experiences for our colleagues and clients remains a priority, and this partnership offers meaningful opportunities for our businesses and teams alike,” said Tyler Horning, Principal of TDC Life. “By further collaborating with experts in the specialty practices across EPIC, we are able to expand our portfolio of products and services exponentially, providing even greater value and support to our clients.” “This acquisition marks a pivotal milestone for Vanbridge. Tyler and Cleves bring top-tier professionalism and expertise that will help take our platform to the next level. With our depth and scale, we are thoughtfully positioned to continue leading the independent life insurance and executive benefits advisory markets,” said Mitchell K. Smith, Managing Principal of Vanbridge and Co-President of EPIC Life and Executive Benefits. “We are proud they chose EPIC.” “TDC has a long-standing reputation for excellence in life insurance and estate planning solutions, and their client-centric approach aligns with our vision of providing unparalleled service and innovative insurance solutions,” said Tom Bellig, Managing Principal of Vanbridge and Co-President of EPIC Life and Executive Benefits. “We are excited to welcome the team at TDC to the Vanbridge organization.“ About EPIC Insurance Brokers & Consultants EPIC Insurance Brokers & Consultants is a leader in risk management, providing clients with diverse and specialized property and casualty, employee benefits, private client and specialty insurance solutions. The EPIC team members operate from locations nationwide, bringing strategic and expansive specializations that allow them to collaborate for innovative and comprehensive risk-solution development. For more information on EPIC, please visit www.epicbrokers.com. About Vanbridge Life and Executive Benefits Vanbridge’s Life and Executive Benefits division provides coordinated advice about insurance planning, executive benefits, estate, tax, distributions, business succession, and other related financial matters. Our clients rely on our team to identify relevant areas of risk, ask clarifying and exploratory questions to identify goals, generate custom solutions and manage the implementation in conjunction with their legal and tax advisors, when applicable. Vanbridge’s infrastructure, services, and strategies cater to RIAs, Family Offices, CPA firms and financial service professionals. We have assembled a distinguished interdisciplinary team that combines the best in life and annuity, capital markets, tax, and legal expertise. A true independent firm with offices and leadership across the country, Vanbridge provides objective access to the world’s leading carriers across life insurance, annuities, disability income, long-term care, and linked benefits. Visit: www.vanbridge.com About TDC Life With a legacy dating back to 1958, TDC Life is a leading independent broker of high-end life insurance. Our sophisticated wealth transfer solutions are tailored to the unique and complex needs of affluent families and their advisors. We’re redefining the life insurance experience by doing what’s right, what’s needed, and what’s best for our clients as their trusted partners for life. www.tdclife.com

The US property and casualty (P&C) insurance industry is poised for a strong profit year in 2024, bolstered by better underwriting results and rising investment income, according to Swiss Re’s recent insights. The combined ratio has improved significantly to 98% for the first half of 2024, a seven-percentage-point (ppt) improvement from the previous year. This is largely attributed to a notable 11 ppt reduction in the personal lines loss ratio, despite ongoing pressure from severe storm activity, particularly in homeowners' insurance.

Premium Growth and Investment Income Drive Profitability

Premium growth remained robust in the first half of 2024, rising by approximately 10%, largely driven by personal lines. This growth, coupled with higher reinvestment yields that surpassed portfolio yields, created a tailwind for the industry’s profitability. Swiss Re now forecasts the industry's return on equity (ROE) to reach 9.5% in 2024 and 10% in 2025, up from 3.4% in 2023. Net investment income for the first half of the year increased by nearly 30%, highlighting the continued benefit of higher interest rates.

Challenges Remain: Catastrophe Losses and Rising Competition

While the outlook is positive, the P&C industry still faces challenges, particularly from natural catastrophes. Severe convective storms and homeowners' insurance claims have added over 7 ppts to the first-half loss ratio, with further potential risk from the ongoing hurricane season. Despite this, personal lines showed resilience, with an overall 14 ppt reduction in loss ratio year-over-year. Rising competition is also likely to affect profitability in the coming months, especially as personal auto insurers are now filing for rate decreases. Swiss Re has revised its premium growth forecast to 9.5% for 2024 and a lower 4% for 2025 due to these pressures.

Outlook Remains Favorable for 2024

Despite the risks, the overall outlook for the US P&C industry remains favorable, with strong premium growth and improving underwriting results driving profitability. With ROE expected to remain near industry cost-of-capital levels and investment yields continuing to rise, 2024 is set to be a profitable year for insurers. The industry will continue to monitor challenges from storm activity and rising competition, but the strong underwriting improvements and favorable economic conditions suggest smoother sailing ahead for the P&C sector.

As Florida grapples with skyrocketing home insurance premiums, a new legislative proposal could see the cost of insuring homes in disaster-prone areas spread across the entire nation. Insurance professionals are closely watching this development, as it could reshape the way the industry handles catastrophic risk.

National Catastrophic Insurance Fund Proposed

Florida Representative Jared Moskowitz has introduced a bill proposing the creation of a National Catastrophic Insurance Fund, aimed at distributing the financial burden of major storm-related insurance claims. Moskowitz, a Democrat, argues that such a fund could help mitigate the skyrocketing costs of home insurance in states like Florida, which are frequently hit by hurricanes and other natural disasters. "Even if my bill doesn't move forward, the federal government needs to realize we have to amortize the risk," Moskowitz said. "This burden can’t fall solely on states like Florida. The risk needs to be spread around."

How the Fund Would Work

The proposal includes the introduction of federal post-event bonds, which would help insurance companies cover homeowner claims when disasters strike. These bonds would supplement private reinsurance and alleviate the pressure on insurers, thereby reducing the premiums that consumers pay. The program also includes a cap on reinsurance requirements, a measure that would further relieve insurance companies of excessive risk. Moskowitz claims this would prevent insurance premiums from escalating as rapidly as they have in recent years. In Florida, homeowners paid an average of $10,996 in 2023, a dramatic increase over the national average of $2,377.

Potential Impact

Moskowitz’s proposed legislation, the Natural Disaster Reinsurance Program Act (HR 3525), has yet to gain traction in Congress, but its potential impact is significant. According to an analysis by the South Florida Regional Planning Council, this bill could reduce premium growth in Florida by 25% and decrease annual growth across the U.S. by 12%. However, there are questions surrounding the repayment of these federal bonds. The most likely scenario would see the costs spread across taxpayers, meaning residents in states less prone to natural disasters could indirectly subsidize high-risk areas like Florida.

Industry Reaction and Next Steps

While Moskowitz’s bill faces an uncertain future, it has sparked debate within the insurance industry about the broader implications of distributing catastrophic risk. For insurers, this could provide much-needed stability in regions increasingly affected by climate change, but it may also bring new regulatory challenges. Insurance professionals should keep a close eye on the progression of this bill and its potential effects on reinsurance costs, premium rates, and the industry’s approach to managing risk in high-disaster zones. With natural disasters becoming more frequent and severe, the industry's need for innovative solutions like the National Catastrophic Insurance Fund is becoming increasingly clear. Whether Congress will act on this or propose alternative measures remains to be seen, but one thing is certain: the insurance landscape is poised for change.

The National Hurricane Center (NHC) has issued a notice advising residents along the Gulf Coast, including Florida, to monitor a growing tropical disturbance in the Caribbean Sea. Just days after Hurricane Helene made landfall in Florida’s Big Bend region as a Category 4 storm, this new system is catching the attention of meteorologists, though development is still uncertain.

System Shows Potential for Growth

The NHC’s latest advisory indicates that while this large and disorganized area of low pressure is producing thunderstorms over the western and southwestern Caribbean, conditions could become more favorable for development. Currently, the system is moving slowly west-northwestward, and by late this week or over the weekend, a tropical depression could form in the southern Gulf of Mexico or northwestern Caribbean Sea.

Development Timetable Shifts

Earlier forecasts suggested a tropical depression could form by midweek. However, the NHC has now pushed back the timeline, citing environmental conditions that may slow development. The chance of formation remains low in the next 48 hours (10%), but that probability increases to 40% over the next seven days.

Floridians Still Reeling from Hurricane Helene

This disturbance comes at a time when many Floridians are still recovering from the devastating impacts of Hurricane Helene. The storm caused severe flooding, widespread power outages, and left behind a path of destruction in the Big Bend region, with winds exceeding 140 mph.

Stay Prepared and Informed

With hurricane season still in full swing, residents along the Gulf Coast, particularly in Florida, are urged to stay informed and prepared as the situation evolves. While the exact path and intensity of the new disturbance remain uncertain, the NHC advises continued monitoring as the system moves closer to the Gulf of Mexico.

Most frequent causes of injury:

• Overexertion (29% of claims analyzed).
• Slips, trips and falls (23%).
• Being struck by an object (12%).
• Motor vehicle accidents (5%).
• Caught-in or caught-between hazards (5%).

Top five drivers of severe claims ($250,000 or more), beginning with the costliest:

• Slips, trips and falls.
• Overexertion.
• Being struck by an object.
• Motor vehicle accidents.
• Caught-in or caught-between hazards.

“Factors such as inexperience, workforce shortages and maintenance issues are all contributing to these unfortunate and often avoidable accidents,” said Rich Ives, Senior Vice President of Business Insurance Claim at Travelers. “While the number of injuries overall has been trending downward in recent years, our analysis shows that there’s never been a better time for businesses to invest in workplace safety and injury prevention.”

New Employees Are Most Vulnerable

Similar to previous years, the 2024 report found that employees in their first year on the job continue to be the most vulnerable to workplace injuries, accounting for 35% of all workers compensation claims. This year’s analysis also uncovered increases in missed workdays due to injuries:

• On average, injured employees missed 72 workdays, up one day from last year’s report.
• The construction industry continued to have the highest average number of lost workdays per injury (103 workdays, up from 99), followed by transportation (83 workdays, up from 77).
• Injured small-business employees missed an average of 82 workdays, up from 79.

“There are tangible consequences to any injury, and many include long-term, sometimes permanent, effects,” said Chris Hayes, Assistant Vice President of Workers Compensation and Transportation, Risk Control, at Travelers. “By understanding where the risks were in the past, businesses can better identify what to look for and tailor their risk management and employee safety strategies accordingly to help prevent injuries from happening.” Additional findings from the 2024 Injury Impact Report can be found at Travelers.com/InjuryImpactReport. For best practices on creating safer workspaces, visit the Workplace Safety Resources page on the company’s website. About the 2024 Injury Impact Report Travelers analyzed more than 1.2 million workers compensation claims that it received between 2017 and 2021 from a variety of industries and business sizes. Findings were based solely on indemnity claims, where the injured employees could not immediately return to work and incurred medical costs. About Travelers The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $41 billion in 2023. For more information, visit Travelers.com.